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SRIT IPO Opens September 28: Price Band Set at Rs 123-130, Aims to Raise Rs 218.4 Cr
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Moneycontrol•23-09-2026, 09:53
SRIT IPO Opens September 28: Price Band Set at Rs 123-130, Aims to Raise Rs 218.4 Cr
- •Bengaluru-based IT solutions provider SRIT India will open its maiden public issue for subscription on September 28, with the price band fixed at Rs 123–130 per share.
- •The company aims to raise Rs 218.4 crore through the IPO, comprising an entirely fresh issue of 1.68 crore equity shares, seeking a valuation of Rs 835.5 crore.
- •The IPO subscription closes on September 30, with share allotment expected by October 1 and trading on bourses commencing October 6.
- •SRIT India plans to utilize Rs 15.3 crore for modernization and redevelopment, Rs 124 crore for working capital, and the remaining for inorganic growth and general corporate purposes.
- •The company recorded revenue of Rs 450 crore in FY26, a 15.6% growth, with the government segment contributing 89.41% of the revenue.
Key Questions Answered
SRIT India has fixed its IPO price band at Rs 123-130 per share and aims to raise Rs 218.4 crore through the public issue. The maiden public issue will open for subscription on September 28 and close on September 30.
The company intends to use Rs 15.3 crore of the net proceeds for modernizing and redeveloping existing products, and Rs 124 crore for working capital requirements. The rest of the funds will go toward inorganic growth via unidentified acquisitions and general corporate purposes.
The anchor book opens on September 25, the public issue opens on September 28, and subscription closes on September 30. Share allotment is expected by October 1, and trading on the bourses is scheduled to commence on October 6.
