SRIT India to raise ₹218 crore via IPO on mainboard

SRIT India, a prominent player in the Information Technology and Information Technology-enabled services sector, intends to raise ₹218 crore through an initial public offering on the mainboard. The IPO, which commences on Monday, has been priced at ₹123-₹130 per equity share. The company plans to offer 1.68 crore equity shares in the offering.

The net proceeds generated from the IPO will be utilized for funding capital expenditure towards modernizing existing product development, maintaining working capital, pursuing inorganic growth, and addressing other strategic initiatives for the benefit of the company.

Dr Nambiar Raghavan Madhusoodan, the Managing Director & CEO of SRIT India, highlighted the company's expertise in designing, implementing, and operating mission-critical digital platforms in the domains of e-governance, telecommunications, broadband, and healthcare. The primary objective of deploying the net proceeds from the IPO is to support the company's future growth by enhancing its technology capabilities and expanding its solution portfolio.

Choice Capital Advisors has been designated as the book-running lead manager for the IPO, while Kfin Technologies has been appointed as the registrar.

In a recent development, Ratiraj Tibrewal, Director at Choice Capital Advisors, praised SRIT India's track record in executing large-scale digital transformation projects for government entities and enterprises. As of June, the company's outstanding order book was valued at ₹1,205 crore. During the fiscal year 2026, the company reported revenue from operations of ₹450 crore, accompanied by an Operating EBITDA of ₹65 crore and a Profit After Tax (PAT) of ₹44 crore.