SRIT India Limited, a Bengaluru‑headquartered Information Technology and IT‑enabled Services (IT/ITeS) company, has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator for its proposed initial public offering (IPO). The DRHP is dated January 29, 2026, marking a key step towards the company’s plan to list its equity shares on Indian stock exchanges.
About SRIT India Limited
Incorporated over two decades ago, SRIT India Limited has a 26‑year track record in designing, implementing and operating large‑scale digital platforms. The company primarily works with government entities and enterprises in India, with selective exposure to overseas markets. According to industry reports, SRIT has executed several mission‑critical and high‑impact projects for both central and state governments.
The company operates across three core verticals:
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Healthcare
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Electronic Governance (e‑Governance)
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Telecommunications and Broadband
SRIT’s delivery and security processes are certified at CMMI Level 5, SSE‑CMM, and multiple ISO standards including ISO/IEC 27001:2022, reflecting its focus on quality, data security, and process maturity.
Over the last decade, SRIT has executed more than 103 projects with an aggregate order value of approximately ₹12,347.16 million, covering healthcare digitisation, public service delivery platforms, and telecom infrastructure.
Details of the Issue
As per the DRHP, the IPO will be a 100% book‑built issue comprising a fresh issue of equity shares.
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Type of Issue: Fresh Issue
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Equity Shares: Up to 16,800,000 equity shares
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Face Value: ₹5 per equity share
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Offer for Sale (OFS): Not applicable
The issue is being made in accordance with SEBI ICDR Regulations, with allocations reserved for Qualified Institutional Buyers (QIBs), Non‑Institutional Investors (NIIs), Retail Individual Investors (RIIs), and eligible employees.
Objects of the Issue
The company proposes to utilise the net proceeds from the IPO for the following purposes:
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Capital expenditure towards modernisation of existing products and redevelopment initiatives
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Funding working capital requirements of the company
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Inorganic growth through unidentified acquisitions, strategic initiatives, and general corporate purposes
Additionally, listing of the equity shares is expected to enhance SRIT’s brand visibility, corporate profile, and provide a public market for its shares in India.
Financial Performance Overview
SRIT India Limited has reported consistent growth in both revenue and profitability across the reported financial periods, reflecting the strength of its long-term government contracts and recurring service-based revenues.
Income from Operations:
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FY2023: ₹151.85 crore
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FY2024: ₹271.09 crore
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FY2025: ₹389.35 crore
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Six months ended September 30, 2025: ₹232.62 crore
Total Income:
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FY2023: ₹162.93 crore
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FY2024: ₹282.22 crore
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FY2025: ₹400.50 crore
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H1 FY2026: ₹237.52 crore
Restated Profit After Tax (PAT):
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FY2023: ₹15.04 crore
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FY2024: ₹29.08 crore
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FY2025: ₹33.60 crore
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H1 FY2026: ₹19.92 crore
Overall, the company’s financial performance highlights steady top-line expansion and improving profitability, backed by execution of large-scale, mission-critical projects and sustained demand from government and enterprise clients.
Key Projects and Capabilities
SRIT has implemented several notable projects, including:
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AI‑driven traffic enforcement and transport management systems across multiple districts
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State‑wide healthcare platforms covering thousands of hospitals and lakhs of users
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Pan‑India health insurance and ERP systems for public sector institutions
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State‑wide fibre network and broadband infrastructure projects
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Large‑scale banking connectivity projects, including ATM network upgrades
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International healthcare platforms, including a national health insurance system in Qatar
These projects underline the company’s expertise in handling complex, large‑scale digital infrastructure assignments.
Lead Manager and Registrar
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Book Running Lead Manager (BRLM): Choice Capital Advisors Private Limited
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Registrar to the Issue: KFin Technologies Limited
With increasing government focus on digital governance, healthcare IT, and telecom infrastructure, SRIT India Limited is well‑positioned to benefit from long‑term public sector digitisation initiatives. The proposed IPO is expected to support the company’s growth plans by strengthening its balance sheet and enabling expansion through both organic and inorganic routes.
Investors will now closely track regulatory observations, valuation details, and issue timelines as the IPO process moves forward.
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