Stories
SRIT India Shares Debut at 14% Premium After Massive IPO
- •SRIT India made its Dalal Street debut on Tuesday, October 6, listing at a 13.85% premium on the NSE at ₹148 and a 7.54% premium on the BSE at ₹139.80 against the issue price of ₹130.
- •The ₹218.40-crore IPO was subscribed an impressive 125.16 times overall, driven by strong demand across retail, institutional, and non-institutional investors.
- •For FY26, SRIT India reported a 15% rise in total income to ₹463 crore and a 26.5% increase in profit after tax to ₹43 crore.
- •The net proceeds from the IPO will be utilized for capital expenditure, working capital requirements, product modernization, and potential strategic acquisitions.
- •Incorporated in 1999 and headquartered in Bengaluru, SRIT India delivers IT and ITeS solutions spanning healthcare, e-governance, and telecommunications sectors.
Key Questions Answered
SRIT India shares made their Dalal Street debut on Tuesday, October 6, opening at a premium. On the National Stock Exchange (NSE), shares opened at ₹148, which marked a 13.85% premium over the issue price of ₹130, while on the Bombay Stock Exchange (BSE), the stock opened at ₹139.80, a 7.54% premium.
The initial public offering of SRIT India was subscribed 125.16 times overall. Specifically, the retail portion saw a subscription of 63.70 times, while the qualified institutional buyers and non-institutional investors portions were subscribed 91.84 times and 312.99 times, respectively.
The company intends to deploy the net IPO proceeds primarily toward capital expenditure and working capital requirements, targeting a total estimated utilisation of ₹136.86 crore. Allocations include ₹12.86 crore for product modernisation and redevelopment, ₹124 crore for working capital, and the rest for inorganic growth and general corporate purposes.
