The IPO was commanding a grey market premium (GMP) of around 42% ahead of listing, indicating expectations of a stronger listing gain over the issue price.
The SRIT India IPO was a ₹218.40-crore book-built issue comprising an entirely fresh issue of 1.68 crore shares, with no offer-for-sale (OFS) component.
The issue was subscribed 125.16 times overall. The retail portion was subscribed 63.70 times, while the qualified institutional buyers (QIB, excluding anchor investors) and non-institutional investors (NII) portions were subscribed 91.84 times and 312.99 times, respectively.
The IPO opened for subscription on September 28 and closed on September 30, with the company fixing the price band at ₹123–130 per share.
Financial performance
SRIT India reported an improvement in its financial performance in FY26. Total income rose around 15% year-on-year to ₹463 crore from ₹401 crore in FY25, while profit after tax (PAT) increased 26.5% to ₹43 crore from ₹34 crore.
IPO proceeds
The company plans to deploy the net IPO proceeds primarily towards capital expenditure and working capital requirements. It has earmarked ₹12.86 crore for modernisation of existing products and redevelopment, while ₹124 crore will be used to meet working capital requirements.
The remaining proceeds will be deployed towards inorganic growth through potential acquisitions and other strategic initiatives, as well as general corporate purposes. The total estimated utilisation of the net proceeds stands at ₹136.86 crore.
About SRIT India
Incorporated in September 1999, SRIT India is a Bengaluru-headquartered information technology and IT-enabled services (IT/ITeS) solutions company. It provides digital solutions, custom application development and system integration services to government entities and enterprises in India and select overseas markets.
The company operates across three key verticals—healthcare, e-governance, and telecommunications and broadband. Its offerings include healthcare information systems, digital health platforms, e-governance solutions, cybersecurity, enterprise software, networking, connectivity, fibre-optic infrastructure, system integration, automation and managed services.
SRIT India also provides configurable and customised solutions that can be integrated with third-party platforms and has started developing artificial intelligence-enabled solutions across its key verticals.