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SRIT India IPO: GMP Crosses 25%, Issue Opens September 28; Know Every Detail.
- •SRIT India IPO opens on September 28, with applications accepted until September 30.
- •The company aims to raise ₹218.40 crore, with a price band of ₹123 to ₹130 per share.
- •Grey Market Premium (GMP) has surged over 25% to ₹33, indicating potential listing gains.
- •SRIT India provides digital solutions and system automation, with a growing focus on AI-based solutions.
- •IPO funds will be used for product modernization, working capital, and business expansion.
Key Questions Answered
The SRIT India IPO opens for subscription on September 28 and closes on September 30, with its price band set between ₹123 and ₹130 per share. The company aims to raise ₹218.40 crore through the issue, and the shares are expected to be listed on the stock exchanges on October 6.
The Grey Market Premium (GMP) for SRIT India has surged to over 25%, with platforms like Investorgain quoting a GMP of ₹33 over the upper price band. However, the grey market premium only serves as an indicator and does not guarantee actual listing gains.
The proceeds from the IPO will be utilized to modernize and redevelop existing products, fund working capital requirements, and pursue business expansion through strategic acquisitions. A portion of the funds will also be set aside for general corporate purposes.
