# SRIT India Limited: IPO analysis > SRIT India Limited (CIN U72200KA1999PLC025692) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 1,68,00,000 shares, priced at ₹123.00 to ₹130.00 per share. In FY26 it reported revenue of ₹450 Cr (+15.6% on FY25) and a net profit of ₹43 Cr. Promoters hold 84.7% before the IPO. Our fact-check of its claims found 5 medium or high concerns across 72 claims checked. - Page: https://ipo.innerkore.com/company/U72200KA1999PLC025692/srit-india-limited/ - CIN: U72200KA1999PLC025692 - Last updated: 1 Oct 2026 ## Key facts - **Company:** SRIT India Limited - **CIN:** U72200KA1999PLC025692 - **Filing stage:** RHP - **Latest SEBI filing:** 1 Oct 2026 - **Price band:** ₹123.00 to ₹130.00 per share - **Bidding opens:** 28 Sep 2026 - **Bidding closes:** 30 Sep 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹450 Cr - **Revenue growth:** +15.6% - **Net profit FY26:** ₹43 Cr - **Revenue CAGR FY24 to FY26:** 28.8% - **Promoter holding (pre-IPO):** 84.7% - **Lead managers:** Choice Capital Advisors Private Limited - **Registrar:** KFin Technologies Limited - **Fact-check flags:** 0 high, 5 medium, 3 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 19.3x P/E. From NSE's price band, on FY26 profit; 4.3x book value. - **Growth** (looks fine): 28.8% a year. Sales FY24 to FY26; latest year +15.6%. - **Profitability** (look closer): 9.6% net margin. FY26; operating margin improving. - **Debt** (looks fine): 0.19x equity. ₹36.2 crore borrowed at the end of FY26. - **Profit into cash** (concern): -28% of profit. Operations brought in ₹-12.1 crore against ₹43.3 crore of profit in FY26. - **One-off income** (look closer): 23% of profit. Other and one-off income is 23% of pre-tax profit; management describes 3 one-off items. - **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. (converted using NSE's price band) - **Red flags** (look closer): 5 to review. 72 claims checked: 0 high, 5 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 271 | 389 | 450 | | Sales growth | – | 43.6% | 15.6% | | Operating profit | 41 | 50 | 65 | | Operating margin | 15.1% | 12.8% | 14.4% | | Net profit | 29 | 34 | 43 | | Net margin | 10.7% | 8.6% | 9.6% | | Net worth | 81 | 94 | 194 | | Borrowings | 22 | 51 | 36 | | Return on equity | 35.9% | 35.9% | 22.3% | ## Non-recurring items (as described by management) - The carrying amount of the investments in these subsidiaries aggregating to ₹1.26 Crore has been written off during FY 2024-25. (p.416) - Restated Profit Before Exceptional Items and Tax (“PBT”) increased by ₹8.76 Crore, or 18.96%, from ₹46.19 Crore in Fiscal 2025 to ₹54.95 Crore in Fiscal 2026. (p.432) - Restated Profit Before Exceptional Items and Tax (PBT) increased by ₹7.85 Crore, or 20.49%, from ₹38.34 Crore in Fiscal 2024 to ₹46.19 Crore in Fiscal 2025. (p.435) ## Use of proceeds (fresh issue) - Funding of capital expenditure requirements towards modernization of existing: ₹13 crore - Funding working capital requirements of our Company: ₹124 crore - Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes (1): amount not fixed yet ## Fact-checked claims - **MEDIUM** (LitigationStatus): Legal Entity Identifier code has been issued by Legal Entity Identifier India Limited and is valid until September 23, 2026.. The search results confirm that Legal Entity Identifier India Ltd. (LEIL) is a recognized issuer authorized by the RBI to facilitate LEI registration for cross-border transactions. However, none of the provided search results mention a specific validity date of September 23, 2026, for the Legal Entity Identifier code. - **MEDIUM** (SubsidiaryPerformance): RICT India Private Limited was incorporated as a private limited company on March 26, 2010, and its business involves ICT solutions.. One search result mentions RICT INDIA PRIVATE LIMITED and details about its generated revenue, but it does not explicitly confirm the incorporation date or the exact business scope as stated in the DRHP claim. Another result mentions outstanding legal proceedings involving RICT India Private Limited. - **MEDIUM** (PromoterBackground): There are no pending litigations involving the Group Company that may have a material impact on the Company.. The search results mention settlements and investigations involving companies related to the Adani group with SEBI, which suggests past regulatory issues. However, the results do not explicitly confirm or deny the claim that there are no pending litigations involving the Group Company. - **MEDIUM** (SubsidiaryPerformance): SRIT Life Sciences LLP was incorporated as a limited liability partnership on April 10, 2026, and its business covers pharmaceutical products and healthcare IT solutions.. The search results mention SRIT Life Sciences LLP in connection with ownership structures related to SRIT India, but they do not confirm the specific incorporation date of April 10, 2026, or the exact business coverage mentioned in the claim. - **MEDIUM** (PromoterBackground): The Promoters have not been a promoter or director of any other company which is debarred from accessing or operating in capital markets under any order passed by SEBI or other regulatory or governmental authority.. The search results mention settlements and investigations involving companies related to the Adani group with SEBI, which might be relevant to the claim regarding debarment. However, the results do not directly confirm or deny the specific statement about the promoters not being involved with debarred entities. - **LOW** (SubsidiaryPerformance): The company was originally incorporated as ‘Sobha Renaissance Information Technology Private Limited’ as a private limited company under the Companies Act, 1956 on September 09, 1999.. The search results corroborate the claim by stating that the company was originally incorporated as ‘Sobha Renaissance Information Technology Private Limited’ as a private limited company. Multiple sources mention this fact in relation to the company's incorporation. - **LOW** (SubsidiaryPerformance): Aurionpro Solutions Limited develops industry-specific IP platforms in banking, payments, and lending, enabling tailored digital transformation.. The search results corroborate the claim by mentioning that Aurionpro Solutions Limited provides business solutions in areas like Transaction Banking Platform and digital banking solutions and payment processing systems. This aligns with the claim of developing IP platforms in banking and payments. - **LOW** (LitigationStatus): Equity Shares issued will be subject to various laws and regulations including the Companies Act, SCRA, SCRR, SEBI ICDR Regulations, SEBI Listing Regulations, and the company's Memorandum and Articles of Association.. The search results mention various legal and regulatory contexts related to entities like SRIT India Private Limited and SRIT India Ltd., which indirectly relates to the claim about various laws and regulations governing equity shares. However, the results do not explicitly confirm or deny the specific list of regulations mentioned in the DRHP. - **NONE** (PromoterBackground): The Promoters have extended unsecured loans to the Company, cumulatively amounting to ₹9.06 Crore as of June 30, 2026.. The provided search results do not contain any direct information corroborating or contradicting the claim regarding the unsecured loans extended by the promoters to SRIT India Limited as of June 30, 2026. The search results primarily relate to SEBI settlement cases involving the Adani group and other market news. - **NONE** (PromoterBackground): The Corporate Social Responsibility Committee was constituted by a resolution passed by the Board dated April 28, 2025.. The provided search results do not contain information confirming or denying the constitution of the Corporate Social Responsibility Committee by a Board resolution dated April 28, 2025. The search results primarily relate to SEBI investigations and IPO updates, which are not directly relevant to this specific claim. - **NONE** (PromoterBackground): The Stakeholders’ Relationship Committee was constituted by a Board resolution dated April 28, 2025, and later reconstituted by a resolution passed on June 23, 2026.. The provided search results do not contain any information regarding the constitution or reconstitution of a Stakeholders’ Relationship Committee for SRIT India Limited by the dates mentioned in the claim (April 28, 2025, and June 23, 2026). - **NONE** (PromoterBackground): The Nomination and Remuneration Committee was constituted by a resolution passed by the Board dated April 28, 2025 and re-constituted by resolutions passed by the Board dated December 10, 2025 and June 23, 2026.. The provided search results do not contain any information regarding the constitution or re-constitution of the Nomination and Remuneration Committee for SRIT India Limited by the Board of Directors on the specified dates (April 28, 2025, December 10, 2025, and June 23, 2026). ## Common questions ### How big is the SRIT India Limited IPO? SRIT India Limited's IPO comprises a fresh issue of 1,68,00,000 shares, according to its Red Herring Prospectus. The price band is ₹123.00 to ₹130.00 per share. ### What are SRIT India Limited's revenue and profit? SRIT India Limited reported revenue from operations of ₹450 Cr in FY26, +15.6% versus FY25. Net profit was ₹43 Cr (FY25: ₹34 Cr). Revenue grew at a compound rate of 28.8% a year from FY24 to FY26. Figures are read from the RHP, as printed there. ### How much do promoters own in SRIT India Limited? Promoters and the promoter group hold 84.7% of SRIT India Limited before the IPO. ### How will SRIT India Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding of capital expenditure requirements towards modernization of existing (₹13 Cr); Funding working capital requirements of our Company (₹124 Cr); Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes (amount not fixed yet). ### What are the red flags in SRIT India Limited's RHP? We fact-checked 72 claims from the filing against the open web: 0 raised a high concern, 5 medium and 3 low. The most notable: The search results confirm that Legal Entity Identifier India Ltd. (LEIL) is a recognized issuer authorized by the RBI to facilitate LEI registration for… One search result mentions RICT INDIA PRIVATE LIMITED and details about its generated revenue, but it does not explicitly confirm the incorporation date or… The search results mention settlements and investigations involving companies related to the Adani group with SEBI, which suggests past regulatory issues.… This is an automated screen, not a verdict; each finding links to its sources. ### What does SRIT India Limited do? तो एक ज़रूरी डिटेल ये है कि Legal Entity Identifier India Ltd. (LEIL) को RBI द्वारा cross-border transactions के लिए authorize किया गया है, लेकिन इस पर कोई specific validity date नहीं मिल रहा है, जो September 23, 2026 का है। ### Who manages the SRIT India Limited IPO? Book running lead managers: Choice Capital Advisors Private Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original SRIT India Limited IPO documents? All 3 filings for SRIT India Limited (Other, RHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [SRIT India Limited - Prospectus](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1790845548477.pdf) (Other filing, filed 1 Oct 2026) - [SRIT India Limited - RHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/SRIT%20India%20Limited_AbridgedProspectus_p.pdf) (Other filing, filed 23 Sep 2026) - [SRIT India Limited - RHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1790594963301.pdf) (Red Herring Prospectus, filed 23 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.