IPO Analysis
SRIT India IPO Analysis: GMP, Financials, Valuation & Risks
SRIT India IPO is a mainboard issue of about ₹218.40 crores with a price band of ₹123 to ₹130 per share.
· 4 min read
AI wrote this article from prospectus and exchange data, and software checked its figures against that data before publishing. How our content is made
Summary
SRIT India IPO is a mainboard book build issue with a price band of ₹123 to ₹130 per share. The issue size is approximately ₹218.40 crores, and the entire issue is a fresh issue.
The latest unofficial grey market premium is ₹31 as of 30 Sept 2026, 8:57 am IST. Subscription on the final day stood at 121.57 times as of 30 Sept 2026, 4:00 pm IST.
IPO snapshot
| Particulars | Details |
|---|---|
| Company | SRIT India |
| IPO type | Mainboard |
| Issue type | Book build Issue |
| Exchange | BSE, NSE |
| Price band | ₹123 to ₹130 per share |
| Face value | ₹5 per equity share |
| Issue size | Approx ₹218.40 crores |
| Fresh issue | Approx ₹218.40 crores |
| Offer for sale | Not available |
Dates table
| Event | Date |
|---|---|
| IPO open | September 28, 2026 |
| IPO close | September 30, 2026 |
| Allotment | October 1, 2026 |
| Refunds | October 5, 2026 |
| Credit to demat | October 5, 2026 |
| Listing | October 6, 2026 |
Business
Publicly available company details in this summary are limited. The promoters of SRIT India are Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar and Martin Poovakkulam Chacko.
The available analysis notes revenue and profit growth, a low debt-to-equity ratio, and healthy return ratios. It also notes dependence on government contracts and customer concentration as key business risks.
Financials
| Period ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 282.22 | 243.88 | 29.08 | 428.96 |
| 2025 | 400.50 | 354.31 | 33.60 | 496.64 |
| 2026 | 462.54 | 407.59 | 43.29 | 614.16 |
The numbers show higher revenue, PAT, and assets across the reported periods. The source does not state the unit, so it is left as published.
Valuation
| Metric | Value |
|---|---|
| ROE | 30.23% |
| ROCE | 28.79% |
| EBITDA margin | 14.39% |
| PAT margin | 9.62% |
| Debt-to-equity ratio | 0.23 |
| EPS | 9.47 (Basic) |
| P/E ratio | N/A |
| RONW | 30.23% |
| NAV | 40.71 |
Interpretation
The reported return ratios are strong, and the debt-to-equity ratio is low. At the same time, the P/E ratio is marked N/A, so a direct price-to-earnings comparison is not available from this summary.
GMP
The latest unofficial grey market premium is ₹31 as of 30 Sept 2026, 8:57 am IST. Based on this unofficial indication, the estimated listing price is ₹161, and the estimated listing gain is 23.85%.
GMP trend
| Date | GMP | Estimated listing gain |
|---|---|---|
| 2026-09-23 | 0 | 0 |
| 2026-09-24 | 13 | 10 |
| 2026-09-25 | 22 | 16.92 |
| 2026-09-26 | 32 | 24.62 |
| 2026-09-27 | 32 | 24.62 |
| 2026-09-28 | 30 | 23.07 |
| 2026-09-29 | 20 | 15.38 |
| 2026-09-30 | 31 | 23.85 |
This is an unofficial market indication, not an exchange figure. It may change quickly.
Strengths
- Successful execution of a ₹2,508.19 million banking connectivity project.
- Implementation of a ₹5,557.80 million state-wide fibre network project.
- Expansion into international markets with projects like the National Health Insurance System in Qatar.
- Revenue and PAT have increased across the reported periods.
- Debt-to-equity ratio is 0.23.
Risks
- High dependency on government contracts for revenue.
- Significant customer concentration risk with top ten customers.
- Delays in statutory payments affecting financial health.
- High subcontractor costs leading to performance risks.
- Ongoing legal proceedings with substantial financial implications.
- Unsecured borrowings posing liquidity risks.
- Foreign currency exposure without hedging mechanisms.
Important dates
| Event | Date |
|---|---|
| Open | September 28, 2026 |
| Close | September 30, 2026 |
| Allotment | October 1, 2026 |
| Refunds | October 5, 2026 |
| Credit to demat | October 5, 2026 |
| Listing | October 6, 2026 |
Who may find this IPO relevant
This IPO may be relevant to readers who want a mainboard issue with reported growth in revenue and profit, along with a relatively low debt-to-equity ratio.
It may also suit readers comparing subscription demand and the latest unofficial grey market premium. For a quick cross-check, see SRIT India IPO analysis page and All IPOs.
FAQs
What is the price band of SRIT India IPO?
The price band is ₹123 to ₹130 per share.
What is the issue size?
The issue size is approximately ₹218.40 crores.
What is the latest unofficial grey market premium?
The latest unofficial grey market premium is ₹31 as of 30 Sept 2026, 8:57 am IST.
What are the IPO dates?
The IPO opens on September 28, 2026 and closes on September 30, 2026.
When is the listing date?
The listing date is October 6, 2026.