Bengaluru-based IT solutions provider SRIT to open IPO on September 28, sets price band at Rs 123-130

New business data points to the fact that Bengaluru-headquartered IT solutions provider SRIT India has decided to open its maiden public offering for subscription on September 28 and set the price range at Rs 123–130 per share.

The firm aims to mobilize Rs 218.4 crore through the initial public offering (IPO) and is seeking a valuation of Rs 835.5 crore at the upper end of the price range.

The IPO comprises an entirely fresh offering of 1.68 crore equity shares.

The firm will open its one-day anchor book for institutional market participants on September 25 and close the public subscription on September 30.

The IPO share allotment is likely to be finalised by October 1, while trading in SRIT India shares on the bourses is anticipated to commence on October 6.

The software solutions firm approached the capital markets by filing a draft red herring prospectus (DRHP) with SEBI in January 2026, which was subsequently approved by the capital markets regulator in June 2026.

Market participants can bid for a minimum of 115 equity shares, with subsequent bids to be made in multiples of 115 shares. Accordingly, the minimum and maximum application sizes for retail market participants would be Rs 14,950 and Rs 1,94,350, respectively.

Half of the public offering size has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional market participants (NIIs), and 35 percent for retail market participants.

SRIT India, which offers digital solutions and automation of systems, intends to utilise Rs 15.3 crore of the net offering proceeds for the modernisation of existing products and redevelopment, and Rs 124 crore for its working capital requirements.

The remaining funds will be utilised for inorganic expansion through unidentified acquisitions and for general corporate purposes.

The firm’s order book stood at Rs 1,182.8 crore in the fiscal year ended March 2026, declining from Rs 1,216 crore in FY24 and Rs 1,476.9 crore in FY25.

Click Here To Read All IPO News

Promoters’ shareholding in the firm will reduce to 62.59 percent post-offering from 84.74 percent at present. Among public shareholders, Sunil Singhania-backed Abakkus Venture Opportunities Fund held a 1.47 percent stake in SRIT India pre-offering, followed by Navbharat Investment Trust and Fortune Hands Expansion Fund, each of which held a 1.11 percent stake.

SRIT India, which competes with listed peers like Allied Digital Services, Aurionpro Solutions, Mastek, and Protean eGov Techologies, recorded topline of Rs 450 crore in the year ended March 2026, growing 15.6 percent from Rs 389.3 crore in the previous year. The government segment contributed 89.41 percent of topline in the last fiscal, while the enterprise segment contributed 10.59 percent to the topline.

Choice Capital Advisors has been appointed as the sole merchant banker for the SRIT India IPO.