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Listed
Computers - Software & Consulting
SRIT India Limited IPO
₹218 Cr · Fresh Issue · Computers - Software & Consulting
Price Band
₹123 – ₹130
Lot: 1200 shares (₹156,000)
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹218 Cr
Fresh Issue
Market Cap
₹835.53 Cr
At upper band
P/E Ratio
19.3x
P/S: 1.9x
Listing Date
06 Oct 2026
BSE & NSE
IPO Timeline
✓
Opens
28 Sep 2026
✓
Closes
30 Sep 2026
✓
Allotment
1 Oct 2026
✓
Refund
2 Oct 2026
✓
Listing
06 Oct 2026
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.68× the IT/Software sector midpoint with strong 28% revenue CAGR and 22.79% PAT CAGR over two years, supported by a fortress balance sheet (D/E 0.23×). The primary risk is modest 9.4% net margin and reliance on unidentified M&A for growth, which carries execution uncertainty.
Listing Performance
Issue Price
₹130
Allotment price
Listing Price
₹139.8
+7.54% on listing day
Current Price (CMP)
₹103.9
-20.1% vs issue
Listed On
06 Oct 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Valuation well below sector norm
At 19.3× P/E, the company is priced at just 0.68× the IT/Software sector midpoint of 28.5×, offering a 32% discount to peer valuations. This discount persists despite profitable operations and double-digit margin expansion potential, making entry attractive for long-term holders.
✓ Strength
Sustained revenue and profit growth
Revenue grew from ₹282.2 Cr (FY-2) to ₹462.5 Cr (FY0) at 28% CAGR, while net profit expanded from ₹29.1 Cr to ₹43.3 Cr at 22% CAGR. This consistent scaling demonstrates operational execution and market traction in the software consulting segment.
✓ Strength
Strong balance sheet and capital efficiency
Debt/Equity of 0.23× and ROCE of 28.79% indicate conservative leverage and efficient capital deployment. The company generates strong returns on invested capital, reducing financial risk and supporting future growth investments.
⚠ Risk
Margin expansion constrained below peers
Net profit margin of 9.4% and EBITDA margin of 14.39% lag typical IT/Software peers (15–20%+ NPM common), suggesting either lower-margin service mix or pricing pressure. Margin recovery is not guaranteed and will be critical to justify the valuation multiple over time.
⚠ Risk
M&A execution and integration risk
₹81.14 Cr (37% of net proceeds) is earmarked for unidentified acquisitions and strategic initiatives, with no specific targets disclosed. Acquisition integration, cultural fit, and synergy realization are material execution risks that could dilute shareholder value if poorly executed.
₹ Valuation
Attractive entry point with margin caveat
At 19.3× P/E and 1.9× P/S, the company is discounted to sector norms (22–35× P/E range). However, the 9.4% NPM is below the 15% threshold that would justify premium valuations, so margin expansion is essential to sustain upside.
👁 Watch
Monitor post-listing margin trajectory
Track quarterly EBITDA and net margins closely post-listing. Any sustained decline below 14% EBITDA or failure to expand NPM toward 12–13% within 2–3 quarters would signal operational headwinds and warrant position review.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "SRIT India Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹450.00 Cr
Net Profit
₹43.29 Cr
Industry
Computers - Software & Consulting
Issue Type
Fresh Issue
Promoters
DR. NAMBIAR RAGHAVAN MADHUSOODAN, PRASAKTHA VAKKIYL NAMBIAR AND MARTIN POOVAKKULAM CHACKO
Lead Managers
Choice Capital Advisors
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.68× the IT/Software sector midpoint with strong 28% revenue CAGR and 22.79% PAT CAGR over two years, supported by a fortress balance sheet (D/E 0.23×). The primary risk is modest 9.4% net margin and reliance on unidentified M&A for growth, which carries execution uncertainty.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
The minimum lot size is 1200 shares. At the upper band price of ₹130, the minimum investment per retail application is ₹156,000. You can apply for up to 13 lots (₹2,028,000) under the retail category (up to ₹2 lakh).
The IPO opens on 28 Sep 2026. It closes on 30 Sep 2026. Allotment is expected on 1 Oct 2026. Refunds initiate on 2 Oct 2026. Listing on BSE and NSE is on 06 Oct 2026.
The lead managers for the IPO are Choice Capital Advisors. Check the SEBI filing for the registrar details.
The IPO listed on 06 Oct 2026 at ₹139.8 against an issue price of ₹130 (+7.54% on listing day). The current market price (CMP) is approximately ₹103.9 (+-20.1% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 30 Sep 2026. The minimum investment is ₹156,000 for one lot (1200 shares). The company trades at 0.68× the IT/Software sector midpoint with strong 28% revenue CAGR and 22.79% PAT CAGR over two years, supported by a fortress balance sheet (D/E 0.23×). The primary risk is modest 9.4% net margin and reliance on unidentified M&A for growth, which carries execution uncertainty.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 30 Sep 2026. The IPO is priced at a P/E of 19.3x. Market cap at issue price is ₹835.53 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The minimum lot is 1200 shares at ₹130 each, costing ₹156,000 per application. The issue closes on 30 Sep 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'SRIT India Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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