Learn about SRIT India Limited’s Draft Red Herring Prospectus filing, issue structure, business operations, financial performance and key milestones in its proposed mainboard IPO journey.
SRIT India Limited IPO update: SRIT India Limited, a Bengaluru-based information technology and IT-enabled services (IT/ITeS) provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for a proposed initial public offering. The company focuses on e-governance, healthcare IT and telecom solutions, with a strong presence in government-backed digital infrastructure projects.
The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.
SRIT India Limited filed its Draft Red Herring Prospectus with SEBI on January 29, 2026. The SRIT India Limited IPO DRHP was subsequently listed under SEBI’s “Draft Offer Documents filed with SEBI – Public Issues” on February 6, 2026, marking the formal commencement of the regulatory review process.
As per the DRHP, the proposed IPO is expected to comprise the following components:
| Particulars | Details |
|---|---|
Issue Type |
Book-built issue |
Fresh Issue |
Up to 1.68 crore equity shares |
Offer for Sale |
None |
Face Value |
₹5 per equity share |
Issue Size |
To be determined after price discovery |
Proposed Listing |
BSE and NSE |
Price Band |
To be announced in RHP |
BRLM |
Choice Capital Advisors Private Limited |
Registrar |
KFin Technologies Limited |
Allocation |
≤50% QIB, ≥35% Retail, ≥15% NII |
These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.
SRIT India Limited is an IT and IT-enabled services company that develops and operates digital platforms and customised software solutions for government entities, public sector undertakings and select overseas clients.
The company operates across three primary verticals:
SRIT India provides digital platforms and automation solutions to government departments and public sector programmes. These include large-scale citizen service platforms and mission-critical infrastructure systems.
The company offers solutions such as the Renaissance Health Enterprise Suite (RHES), an integrated hospital management system aligned with the Ayushman Bharat Digital Mission. The company offers integrated hospital management and healthcare IT platforms supporting digital health initiatives in India and select overseas markets.
SRIT India has executed projects in telecom and broadband infrastructure, including network and billing platforms. The company has participated in telecom and broadband infrastructure projects involving network and connectivity platforms for public sector clients.
Headquartered in Bengaluru, the company has over 26 years of operating experience. It is certified at CMMI Level 5 and ISO 27001:2022, indicating established process maturity and information security standards.
As disclosed in the DRHP, the company reported an order book of approximately ₹1,280.6 crore as of September 2025, with a significant share derived from government and public-sector contracts. This highlights its positioning as a technology partner for public sector digital transformation initiatives.
According to the DRHP, the net proceeds from the fresh issue are proposed to be utilised towards the following key objectives:
| Fund Allocation | Amount (₹ crore) | Purpose |
|---|---|---|
Capital Expenditure – Product Modernisation |
15.30–15.36 |
Upgrading technology architecture, improving scalability, and enhancing security and user experience of existing software platforms |
Working Capital Requirements |
124 |
Supporting project execution, managing receivables, and sustaining long-term service contracts |
Inorganic Growth and Strategic Initiatives |
Not specified |
Funding potential acquisitions and strategic expansion initiatives |
General Corporate Purposes |
Balance |
Supporting business development, technology investments, and organisational strengthening |
These allocations outline the proposed utilisation of proceeds from the fresh issue, which is intended to support operational capacity and expansion initiatives.
Public IPO summaries indicate consistent growth in SRIT India’s revenue and profitability in recent years.
A simplified snapshot of key financial metrics is provided below:
| Fiscal Year | Revenue from Operations (₹ Cr) | PAT (₹ Cr) | Notes / Highlights |
|---|---|---|---|
FY2023 |
151.84 |
15.04 |
Baseline year reflecting established e-governance and IT services operations. |
FY2024 |
271.00 (approx.) |
29.00 (approx.) |
Strong year-on-year growth ahead of further scale-up. |
FY2025 |
389.30–389.34 |
33.60–33.65 |
Revenue CAGR of about 36.87% (FY2023–FY2025) and PAT CAGR of about 30.73%. |
*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.
The SRIT India Limited IPO is currently at the DRHP review stage. Key milestones in the IPO journey are summarised below:
| Milestone / Stage | Date (or Status) | Details |
|---|---|---|
DRHP filed with SEBI |
January 29, 2026 |
SRIT India Limited IPO filed with SEBI proposing a fresh issue of up to 1.68 crore equity shares of face value ₹5 each. |
DRHP disclosed on SEBI site |
February 6, 2026 |
Listed under “Draft Offer Documents filed with SEBI – Public Issues”. |
SEBI review and observations |
Ongoing / Awaited |
DRHP under regulatory review; observations to be issued prior to RHP filing. |
Filing of Red Herring Prospectus (RHP) |
To be announced |
RHP with final price band, issue size in ₹, lot size and timetable to be filed after addressing SEBI observations. |
IPO Opening Date |
Not yet announced |
Bidding window dates to be announced in the RHP and exchange notifications. |
IPO Closing Date |
To be announced |
To be specified along with opening date in final IPO timetable. |
Listing on BSE/NSE (tentative) |
To be announced |
Equity shares proposed to be listed on both BSE and NSE upon completion of allotment and listing formalities. |
Note: Investors should refer to official filings for final IPO dates to learn more about company’s IPO listing details and price, and listing timelines.
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This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
SRIT India Limited filed its Draft Red Herring Prospectus with SEBI on January 29, 2026. This SRIT India Limited IPO filed with SEBI marked the formal initiation of the mainboard listing process.
The IPO is structured as a book-built issue comprising solely a fresh issue of up to 1.68 crore equity shares of face value ₹5 each. There is no offer-for-sale component. The total issue size in ₹ terms will be determined based on the final price discovered in the RHP.
SRIT India Limited is an IT and IT-enabled services company providing digital solutions for e-governance, healthcare IT and telecom infrastructure. Its platforms support government programmes, hospital systems and telecom networks in India and select overseas markets.
The net proceeds are proposed to be used for capital expenditure towards modernisation and redevelopment of existing products (around ₹15.3–₹15.36 crore), working capital requirements (around ₹124 crore) and supporting inorganic growth opportunities and general corporate purposes.
Subject to regulatory approvals and successful completion of the IPO process, the equity shares of SRIT India Limited are proposed to be listed on both BSE and the National Stock Exchange of India (NSE).