SRIT India Limited

SRIT India Limited has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).

Because the company is currently in the pre-launch phase, its exact IPO timeline, price band, and grey market premium (GMP) are yet to be officially announced.

1. IPO & Company Overview

Headquartered in Bengaluru, SRIT India Limited is an Information Technology and IT-enabled Services (IT/ITeS) solutions provider. Established in 2003, the company specializes in digital automation, custom software application development, and system integration services. It focuses heavily on executing large, mission-critical infrastructure projects across sectors like healthcare, e-governance, and telecommunications.

Proposed Issue Details

  • IPO Structure: Book-built Mainboard Issue

  • Issue Composition: 100% Fresh Issue (Up to 1.68 Crore equity shares)

  • Face Value: ₹5 per share

  • Proposed Listing: BSE and NSE

  • IPO Dates / Price Band / Lot Size: To Be Announced (TBA)

  • Book Running Lead Manager: Choice Capital Advisors Private Limited

  • Registrar: KFin Technologies Limited

2. Fundamental & Financial Highlights

SRIT India boasts a steady trajectory in top-line revenue, though it carries a heavy reliance on a select pool of public sector customers.

Key Financials (in ₹ Crores)

Financial Element H1 FY26 (Ended Sep 2025) FY25 (Ended Mar 2025) FY24 (Ended Mar 2024) FY23 (Ended Mar 2023)
Total Income ₹237.52 Cr ₹400.50 Cr ₹282.22 Cr ₹162.93 Cr
EBITDA ₹32.07 Cr ₹49.81 Cr ₹40.99 Cr ₹22.51 Cr
Profit After Tax (PAT) ₹19.92 Cr ₹33.60 Cr ₹29.08 Cr ₹15.04 Cr
Net Worth ₹156.18 Cr ₹93.17 Cr ₹80.47 Cr ₹51.30 Cr
Total Borrowings ₹46.03 Cr ₹61.84 Cr ₹24.83 Cr ₹17.60 Cr

Key Performance Indicators (KPIs)

  • FY25 ROE / RoNW: 38.76%

  • FY25 ROCE: 37.42%

  • FY25 Diluted EPS: ₹7.20

  • Debt-to-Equity Ratio (As of Sept 2025): 0.29x

Strengths & Key Risks

  • Strengths: Over the last decade, the company has completed 103+ large-scale projects. Its outstanding order book as of late 2025 stands strong at over ₹1,280 Crore. It operates with an established track record in high-barrier domains like healthcare IT and e-governance.

  • Risks: High business concentration risk. Roughly 88% to 92% of operations revenue relies completely on tenders won from Government entities. Furthermore, its top ten clients command over 90% of aggregate revenue, making it highly vulnerable to delayed government payments or policy changes.

3. Grey Market Premium (GMP)

  • Current GMP: ₹0 / No Premium

Because the price band has not yet been defined by the company or the lead managers, there is currently no active, unofficial grey market trading for SRIT India shares. The GMP will begin to reflect a value only after the formal IPO date announcements and price discovery take place.

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