SRIT India IPO: Software solutions provider files DRHP with SEBI to raise funds via public offer

SRIT India IPO: Software solutions provider SRIT India has filed preliminary papers with capital regulator Securities and Exchange Board of India to raise funds through an initial public offering.

The proposed initial share sale is exclusively a fresh issuance of 1.68 crore shares, with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).

The net proceeds will be utilised for capital expenditure needs towards modernisation of existing products and redevelopment, working capital requirements, inorganic growth through unidentified acquisitions and corporate general purposes.

"We expect to achieve the benefit of listing of our equity shares on the stock exchanges and enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India," the firm said.

The company will reserve 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Choice Capital Advisors is the sole merchant banker to the issue, while KFin Technologies is the registrar.

About SRIT India

Bengaluru-headquartered SRIT India is an information technology (IT) and IT-enabled solutions company, providing digital solutions and automations of systems through custom application development and integration services. It designs, implements and operates digital platforms for the government entities and enterprises and select overseas markets.

Its activities are organised across three verticals: electronic governance, healthcare, (ii) electronic governance, and telecommunications and broadband.

Owing to consistent service delivery and execution capabilities, SRIT India's revenue from operations has risen from ₹151.84 crore in the financial year 2022-23 to ₹389.34 crore in fiscal 2025 at a compound annual growth rate (CAGR) of 36.87%. Its profit after tax climbed from ₹15.04 crore in fiscal 2023 to ₹33.60 crore in fiscal 2025 at a CAGR of 30.73%.

The company's shares will be listed on the National Stock Exchange (NSE) and BSE.