| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹123 to ₹130 | 115 | 28th Sep, 2026 – 30th Sep, 2026 | ₹218 Cr |
SRIT India Ltd
SRIT India Limited is a Bengaluru-headquartered Information Technology and IT-enabled Services (IT/ITeS) solutions company that provides digital solutions through custom application development, system integration, technology services, and managed services. With over 26 years of experience, the company has established capabilities in designing, implementing and operating digital platforms for Government entities and Enterprises across India and select overseas markets. Its business is organised across three key verticals: healthcare, electronic governance, and telecommunications & broadband, enabling it to address diverse digital transformation and infrastructure requirements. In healthcare, SRIT provides hospital information systems, digital health platforms, revenue cycle management and related implementation, integration and maintenance services. Its electronic governance offerings include e-governance platforms, cybersecurity, enterprise software and integrated digital service delivery solutions, while the telecommunications and broadband vertical covers networking, connectivity, system integration and managed services. The company follows an integrated project execution model, combining in-house software products with third-party technologies and hardware, supported by a diversified partner ecosystem. Over the last decade, it has executed more than 103 projects with an aggregate order value of Rs. 1,235 crores, while its order book stood at Rs. 1,183 crores as of June 2026, providing revenue visibility. Electronic governance accounted for 58.4% of the order book, followed by telecommunications and broadband at 38.0% and healthcare at 3.6%. Government customers contributed 89.4% of FY26 revenue, highlighting SRIT’s strong exposure to public-sector digitalisation
Objective of SRIT India Ltd
The IPO comprises a Fresh Issue aggregating up to Rs.218 crores. The Net Proceeds from the Fresh Issue are proposed to be utilized for the following purposes:
- Funding of capital expenditure requirements towards modernization of existing products and redevelopment
- Funding working capital requirements of our Company; and
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
Rationale To SRIT India Ltd
Investment Rationale
Established track record with end-to-end digital solutions and growing AI capabilities
The company has built a strong track record over the past 26 years in designing, implementing and operating digital platforms for Government and Enterprise customers across healthcare, electronic governance, telecommunications and broadband sectors in India and select overseas markets. Its end-to-end service capabilities span software development, system integration, data migration, cloud or on-premises deployment, infrastructure integration and ongoing operations and maintenance, enabling it to act as a one-stop solution provider across the project lifecycle. The company has executed more than 103 projects with an aggregate order value of Rs. 1,235 crores over the last decade and had 102 ongoing orders as of June 30, 2026, providing visibility into its execution pipeline. Its delivery capabilities are supported by CMMI Level 5 and Systems Security Engineering-CMM frameworks, along with ISO certifications covering information security, IT service management, quality and environmental management. The company has also developed an extensive network of domestic and international technology, service and business partners, which complements its in-house capabilities and enables it to deliver customised solutions across multiple technology domains. It is also increasingly leveraging emerging technologies, particularly artificial intelligence, through initiatives such as AI-based video analytics, conversational AI applications, and technology partnerships. Its modular, standards-based healthcare platform supports secure data integration, clinical interoperability, and scalable digital workflows, highlighting its ability to develop solutions aligned with evolving technology and regulatory requirements. The combination of a proven execution track record, integrated service capabilities, a diversified partner ecosystem, and growing AI expertise positions the company to benefit from increasing demand for integrated, technology-led digital transformation solutions across Government and Enterprise markets.
Diversified order book across multiple verticals, clients and geographies
The company has built a diversified portfolio across healthcare, electronic governance, and telecommunications and broadband, offering modular, configurable software solutions that can be deployed as complete suites or individual modules based on client requirements. By combining in-house software products with third-party technologies and hardware, it delivers customised, cost-effective turnkey solutions across varied industries and end-user requirements. The company caters to a broad base of Government departments and Enterprise clients, while also undertaking projects in collaboration with established partners such as RailTel Corporation of India and other technology-focused entities. As of June 30, 2026, the company’s order book provides visibility into future revenue and reflects continued demand for its integrated IT/ITeS solutions. Its improving execution track record and pre-qualification credentials have also strengthened its ability to participate in higher-value projects and reach a broader client base. The company is further expanding its presence across domestic and international markets, enabling it to leverage global partnerships, access new opportunities and diversify its revenue base geographically. Its recent entry into the power utility sector through a transformer monitoring solutions project also demonstrates the potential to leverage its existing technology and system integration capabilities across adjacent infrastructure segments. Further, the proposed use of IPO proceeds for working capital is expected to strengthen its financial capacity to fund project execution independently, potentially reducing reliance on external partners and financing. The combination of a diversified vertical presence, sizeable order book, expanding geographical footprint and entry into adjacent sectors provides a platform for the company to pursue growth opportunities across the evolving digital infrastructure landscape.
Valuation of SRIT India Ltd
SRIT India Limited is an established IT/ITeS solutions provider, offering digital solutions and automation across healthcare, electronic governance, and telecommunications & broadband. The company operates in a growing industry supported by increasing digitalisation, e-governance adoption, healthcare digitisation and rising demand for technology-led solutions from government and enterprise clients. Its 26-year track record, diversified technology portfolio, recurring clientele and presence across mission-critical digital projects provide a strong foundation for long-term growth. On the financial front, the company has demonstrated healthy operating performance, with Revenue/EBITDA/PAT increasing to Rs.450 Cr/Rs.65 Cr/Rs.43 Cr in FY26. EBITDA margin improved to 14.4% in FY26, while PAT margin stood at 9.6%. The company also reported strong return ratios, with ROE and ROCE at 22.3% and 21.2%, respectively, while debt-to-equity stood at a modest 0.18x. While the valuation is not at a significant discount to the disclosed peer average P/E of 18.3x, the company’s strong growth profile, healthy return ratios, and low leverage support the valuation. Key risks include high dependence on government clients and customer concentration. At the upper price band of Rs.130, the issue is valued at approximately 13.7x FY26 diluted EPS of Rs.9.47. Given the company’s strong growth prospects, healthy return ratios, low leverage, and diversified digital solutions portfolio, we recommend a “SUBSCRIBE” rating for a long-term investment horizon.
What is the SRIT India Ltd IPO?
The initial public offer (IPO) of SRIT India Ltd an early investment opportunity in. A stock market investor can buy SRIT India Ltd IPO shares by applying in IPO before SRIT India Ltd get listed at the stock exchanges. An investor could invest in SRIT India Ltd for short term listing gain or a long term.
How to apply for the SRIT India Ltd IPO through StoxBox?
To apply for the SRIT India Ltd through StoxBox one can apply from the website and also from the app. Click here
When will the SRIT India Ltd IPO open?
SRIT India Ltd is opening on 28th Sep 2026. Apply Now
What is the lot size of the SRIT India Ltd IPO?
The Lot Size of SRIT India Ltd 115 equity shares. Login to your account now.
When is the SRIT India Ltd IPO allotment date?
The allotment Date for SRIT India Ltd IPO 01st oct 2026. Login to your account now.
When is the SRIT India Ltd IPO listing date?
The listing Date for SRIT India Ltd is 6th Oct 2026. Login to your account now
What is the minimum investment required for the SRIT India Ltd IPO?
In the Retail segment the minimum investment required is Rs 14,950 Login to your account now
What is the maximum investment allowed for SRIT India Ltd IPO?
In the Retail segment the maximum investment requirement Rs 1,94,350 Login to your account now
What are the risks associated with investing in the SRIT India Ltd IPO?
- A significant portion of the company’s revenue is derived from government entities, which contributed 89.41% of revenue from operations in FY2026. The business is largely tender-driven, and failure to qualify, win or execute new contracts, or any reduction in government tender activity, could adversely affect revenue visibility, growth, cash flows and profitability.
- The company has a high dependence on its top customers, with the top 10 customers contributing 89.36% of revenue from operations in FY2026. Any loss of key customers, reduction in project awards or pricing pressure from these customers could adversely impact revenue, margins and overall financial performance.
- The company operates a working-capital-intensive business, with trade receivables and contract assets accounting for 63.27% of total assets as of FY2026. Delays in customer payments, milestone certifications or project billing could increase working capital requirements, constrain liquidity and adversely affect cash flows and profitability.
When will the SRIT India Ltd IPO shares be credited to my Demat account?
The SRIT India Ltd will be credited to the account on allotment date which is 01st Oct 2026. Login to your account
Where can I find the SRIT India Ltd IPO prospectus?
The prospectus of SRIT India Ltd IPO prospectus can be found on the website of SEBI, NSE and BSE
