The SRIT India IPO is set to open for subscription today, September 28, 2026, giving investors a three-day bidding window. The issue will remain open until September 30. In the grey market, the IPO is currently commanding a 12% GMP, or Rs 15, indicating expectations of a premium listing based on the unofficial market indicator.

The SRIT India IPO is a Rs 218.40-crore book-built issue, comprising an entirely fresh issue of 1.68 crore shares. The IPO has no offer-for-sale (OFS) component.

The allotment for the SRIT India IPO is expected to be finalised on October 1, 2026, while the shares are scheduled to list on both the NSE and BSE on October 6, subject to the proposed timeline.

Read more: Four SME IPOs to open for subscription today: Check price band, lot size and key details

SRIT India IPO price band, lot size

The company has fixed the IPO price band at Rs 123–Rs 130 per share. The lot size is 115 shares, and retail investors need to apply for a minimum of 115 shares. At the upper end of the price band, the minimum investment for retail investors stands at Rs 14,950.

Choice Capital Advisors Pvt. Ltd. is the book-running lead manager to the issue, while KFin Technologies Ltd. is the registrar.

SRIT India IPO GMP Today

The latest grey market premium (GMP) for the SRIT India IPO stands at 12%, or Rs 15, against the upper price band of Rs 130 per share. Based on the current GMP, the estimated listing price is around Rs 145 per share. However, GMP is an unofficial and unregulated indicator, and the actual listing price may differ.

On the financial front, SRIT India’s total income rose from Rs 401 crore in FY25 to Rs 463 crore in FY26, while profit after tax (PAT) increased from Rs 34 crore to Rs 43 crore during the same period.

Read more: Three SME IPOs set to list today: Robokidz, FX Multitech, Vivekanand Cotspin in focus

SRIT India IPO: Objects of the Issue

The company plans to utilise the net IPO proceeds primarily towards capital expenditure and working capital requirements. It has earmarked Rs 12.86 crore for the modernisation of existing products and redevelopment, while Rs 124 crore will be used to meet its working capital requirements.

The remaining proceeds will be deployed towards inorganic growth through potential acquisitions and other strategic initiatives, along with general corporate purposes. The total estimated utilisation of the net proceeds stands at Rs 136.86 crore.

SRIT India reported an improvement in its financial performance in FY26 compared with the previous financial year. The company’s total income increased from Rs 401 crore in FY25 to Rs 463 crore in FY26, while profit after tax (PAT) rose from Rs 34 crore to Rs 43 crore during the same period. This represents a year-on-year growth of around 15% in total income and 26.5% in PAT.

Incorporated in September 1999, SRIT India Ltd. is a Bengaluru-headquartered information technology and IT-enabled services (IT/ITeS) solutions company offering digital solutions, custom application development and system integration services. With more than two decades of industry experience, the company designs, implements and operates digital platforms for government entities and enterprises in India and select overseas markets.

SRIT India operates across three key verticals — healthcare, e-governance, and telecommunications and broadband. Its offerings include healthcare information systems, digital health platforms, e-governance solutions, cybersecurity, enterprise software, networking, connectivity, fibre-optic infrastructure, system integration, automation and managed services. The company also provides configurable and customised solutions that can be integrated with third-party platforms and has started developing AI-enabled solutions across its key verticals.

As of June 30, 2026, the company had 177 permanent employees, seven contract-specific employees and 107 consultants. Its workforce supports functions including application development, project management, operations, solution architecture, support engineering, quality management and service delivery.

Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here