Srit India IPO fully bid on day 1

The offer received bids for 1.17 crore shares as against 1.17 crore shares on offer.

The initial public offer (IPO) of Srit India was subscribed 1 times on the first day of bidding on 28 September 2026, according to stock exchange data at 17:00 IST. The issue received bids for 1,17,29,885 shares against 1,17,60,000 shares on offer.

The issue opened for subscription on 28 September 2026 and will close on 30 September 2026. The price band has been fixed at Rs 123 to Rs 130 per share. The minimum bid is 115 shares. The equity shares are proposed to be listed on the BSE and NSE.

The IPO is entirely a fresh issue of 1,68,00,000 equity shares. It is worth Rs 206.64 crore at the lower price band and Rs 218.40 crore at the upper price band. Following the issue, promoter and promoter group shareholding is expected to decline to 62.71% from 84.91% pre-IPO.

The company's board on 25 September 2026 finalised the allocation of 50,40,000 equity shares to anchor investors at Rs 130 per share. Of the total allocation, 7,69,350 shares, representing 15.26% of the total anchor allocation, were allotted to one domestic mutual fund through one scheme.

SRIT India plans to use Rs 124 crore from the net IPO proceeds to fund working capital requirements. Another Rs 12.87 crore will be used for capital expenditure towards modernisation of existing products and redevelopment. The balance will be utilised for unidentified acquisitions and general corporate purposes.

SRIT India is an information technology and information technology enabled services (IT/ITeS) solutions company providing digital solutions, custom application development and system integration services. The company designs, implements and operates digital platforms for government entities and enterprises in India and select overseas markets.

The company operates across three verticals - healthcare, electronic 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 has executed more than 103 projects over the last decade, with an aggregate order value of approximately Rs 1,234.72 crore. Its projects include healthcare platforms, nationwide banking connectivity, state-wide fibre networks, AI-driven traffic management and power transformer monitoring solutions.

The company has executed projects across 12 Indian states and seven overseas markets, including Qatar, the UAE and Nigeria. In FY2026, domestic operations contributed 94% of total revenue, while international operations accounted for the remaining 6%.

As of 30 June 2026, SRIT India's outstanding order book stood at Rs 1,204.72 crore. The company is also developing artificial intelligence-enabled solutions across its key verticals and aims to expand its healthcare, digital transformation, cloud-enabled and cybersecurity offerings.

Financially, consolidated sales increased 15.6% to Rs 450 crore in FY2026 from Rs 389.35 crore in FY2025. Operating profit rose 30.0% to Rs 64.77 crore from Rs 49.81 crore, while operating profit margin improved to 14.39% from 12.79%. Net profit rose 28.8% to Rs 43.29 crore from Rs 33.60 crore.

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