SRIT India
What they do: The company operates in the technology sector, focusing on systems integration and healthcare technology projects. It has recently expanded its operations by incorporating a new LLP for healthcare technology projects.
By IPO Milega Research · Published · Updated
Analysis score 6.4 +1.5 for 91.84x QIB subscription
SRIT India Limited shows strong financial fundamentals with consistent revenue and profit growth, a healthy profit margin, and a low debt-to-equity ratio.
- GMP (unofficial)
- +40.77%
- ₹53 a share
- Subscribed
- 125.16x
- Total
- Retail odds
- 1.6%
- 1 in 64
GMP is an unofficial grey market indication.
- Price band
- ₹123-130
- Lot size
- 115 shares
- Min. investment
- ₹14,950
- Issue size
- 218.40 Cr.
- Open28 Sept 2026
- Close30 Sept 2026
- Allotment1 Oct 2026
- Listing6 Oct 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 91.84x
- S-HNI
- 8.53x
- B-HNI
- 3.61x
- Retail
- 63.7x
₹183 (+40.77%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials8.0
- Performance7.0
- Flexibility8.0
- Timing5.0
- Risk4.0
The Grey Market Premium (GMP) of 163 suggests a potential gain of 25.38% on listing, indicating positive market sentiment despite the company's high dependency on government contracts and external market risks.
Strengths3
- 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.
Concerns5
- 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.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum14,9501 lots, 115 shares
- Retail Maximum1,94,35013 lots, 1495 shares
- S-HNI Minimum2,09,30014 lots, 1610 shares
- S-HNI Maximum9,86,70066 lots, 7590 shares
- B-HNI Minimum10,01,65067 lots, 7705 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 115 | 14,950 |
| Retail Maximum | 13 | 1495 | 1,94,350 |
| S-HNI Minimum | 14 | 1610 | 2,09,300 |
| S-HNI Maximum | 66 | 7590 | 9,86,700 |
| B-HNI Minimum | 67 | 7705 | 10,01,650 |
Timing
5.0/10The timing of the IPO appears to be moderately unfavorable due to the presence of multiple external risk factors and economic uncertainties. While the company has not experienced material interruptions from geopolitical conflicts, the broader market conditions, including potential regulatory actions and economic instability, could pose challenges to the IPO's success.
- Time to market
- The market timing for SRIT India's IPO is not optimal. The presence of geopolitical tensions, economic uncertainties, and potential regulatory surveillance measures could deter investor interest and affect the IPO's performance. The company's contingent liabilities and legal disputes further add to the risk profile, making the timing less favorable.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Neutral
- Time to market
- 4.0
- Listing on
- BSE, NSE
Key milestones
- 28 Sept 2026IPO Opens
- 30 Sept 2026IPO Closes
- 1 Oct 2026Basis of Allotment
- 5 Oct 2026Refunds Initiated
- 5 Oct 2026Credit to Demat Account
- 6 Oct 2026Listing Date
Financials
8.0/10- Revenue
- ₹463 Cr
- +15.5%
- Profit after tax
- ₹43.29 Cr
- +28.8%
- Net margin
- 9.4%
- +1.0 pts
- Assets
- ₹614 Cr
- +23.7%
- Return on equity
- 29.98%
- Debt to equity
- 0.23
- Current ratio
- 1.43
- Revenue CAGR
- 15%
- ROCE
- 28.79%
- Return on net worth
- 30.23%
- NAV per share (₹)
- 40.71
Financial performance trend
Amount ₹ in croresSRIT India Limited shows strong financial fundamentals with consistent revenue and profit growth, a healthy profit margin, and a low debt-to-equity ratio. The company has a robust return on equity and a satisfactory current ratio, indicating good liquidity management.
Risk
4.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks3
- Market risks1
- Operational risks2
- Regulatory risks1
High dependency on government contracts and top customers poses significant financial and operational risks.
How the company offsets these
Diversifying customer base and securing long-term contracts can mitigate revenue concentration risks.
Financial risks3
- High dependency on government contracts for revenue.
- Significant customer concentration risk with top ten customers.
- Unsecured borrowings posing liquidity risks.
Market risks1
- Foreign currency exposure without hedging mechanisms.
Operational risks2
- High subcontractor costs leading to performance risks.
- Delays in statutory payments affecting financial health.
Regulatory risks1
- Ongoing legal proceedings with substantial financial implications.
Performance
7.0/10SRIT India Limited has demonstrated solid growth and a diverse project portfolio, but faces challenges due to high reliance on government contracts and financial leverage.
- Historical growth
- SRIT India Limited has shown a consistent revenue growth pattern, with a notable increase of 15.58% from Fiscal 2025 to 2026., 15.58%
- Market comparison
- Compared to peers, SRIT India Limited has a strong project portfolio but is more reliant on government contracts, which poses a risk compared to more diversified competitors.
- Future potential
- The company is expected to continue growing, leveraging its strong project pipeline and expansion into new markets.
- Operational consistency
- While revenue growth is consistent, the high dependency on government contracts poses a risk to stability.
- Experience
- The management team has a strong background in IT solutions and project execution, particularly in government contracts.
- Track record
- The management has successfully led the company through significant projects and revenue growth.
Key achievements
- 01Successful execution of a ₹2,508.19 million banking connectivity project.
- 02Implementation of a ₹5,557.80 million state-wide fibre network project.
- 03Expansion into international markets with projects like the National Health Insurance System in Qatar.
Flexibility
8.0/10SRIT India Limited has a strong market adaptability, evidenced by its successful execution of large-scale projects across various sectors, including healthcare, electronic governance, and telecommunications. The company's ability to cater to government and enterprise clients and its strategic expansion into AI and digital transformation initiatives highlight its capacity to adapt to market demands and technological advancements.
SRIT India Limited exhibits financial stability with consistent revenue growth and a healthy financial position. The company has increased its revenue from operations significantly over the years, although it faces challenges in maintaining high profit margins. Its debt-equity ratio and current ratio indicate a stable financial structure, supporting its operational and strategic initiatives.
The company demonstrates high operational agility through its ability to execute complex, large-scale projects across multiple sectors. Its comprehensive service offerings, including system integration and managed services, and its capability to deliver AI-enabled solutions, reflect its operational flexibility and responsiveness to client needs.
SRIT India Limited demonstrates strong flexibility and adaptability, driven by its diversified service offerings across healthcare, electronic governance, and telecommunications. The company has a robust track record of executing large-scale projects for government and enterprise clients, showcasing its operational agility and market adaptability. Financially, SRIT has shown consistent revenue growth and maintains a healthy financial position, although it faces challenges in maintaining high margins. The company's strategic focus on AI and digital transformation further enhances its adaptability potential.
- Product diversification
- SRIT India Limited offers a diversified suite of products and services across healthcare, electronic governance, and telecommunications. Its product portfolio includes healthcare IT systems, e-governance platforms, and broadband solutions, allowing it to cater to a wide range of client needs and market segments.
- Future adaptability
- The company's focus on AI and digital transformation positions it well for future adaptability. Its strategic initiatives in developing AI-based solutions and expanding into new sectors like power utilities indicate a strong potential to adapt to emerging market trends and technological advancements.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.