SRIT India IPO GMP today: Issue subscribed 14.34x; grey market premium climbs to ₹33
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The ₹218.40 crore initial public offering (IPO) of SRIT India entered its final day of bidding on Wednesday, with the issue subscribed 14.34 times by 11:15 AM. The IPO of the Bengaluru-based IT and IT-enabled services company witnessed strong demand from non-institutional and retail investors.
According to the latest subscription data, investors had bid for 16.87 crore shares against 1.18 crore shares on offer. The non-institutional investor (NII) portion was subscribed 32.36 times, while the retail portion was subscribed 14.77 times.
The qualified institutional buyer (QIB) category, however, received bids for 2.62 lakh shares against 33.60 lakh shares reserved for the category, translating into a subscription of 0.08 times.
The SRIT India IPO has a price band of ₹123-130 per share, with a lot size of 115 shares. At the upper end of the price band, retail investors need to invest a minimum of ₹14,950 for one lot.
SRIT India IPO GMP indicates 25% potential listing premium
The SRIT India IPO has also generated interest in the grey market ahead of the issue closing on Wednesday. The latest grey market premium (GMP) stood at ₹33 per share as of September 30, according to data available on InvestorGain.com.
At the upper end of the IPO price band of ₹130, a GMP of ₹33 implies an estimated listing price of around ₹163 per share. This translates into a potential premium of 25.38% over the issue price.
However, GMP is an unofficial indicator based on grey market activity and does not guarantee the actual listing price. The eventual listing will depend on market conditions, investor demand and other factors when the shares begin trading.
The basis of allotment for the SRIT India IPO is expected to be finalised on October 1, while the shares are scheduled to list on both the NSE and BSE on October 6.
SRIT India IPO details
The IPO is entirely a fresh issue of 1.68 crore equity shares and does not include an offer-for-sale component. The company plans to use the proceeds for capital expenditure towards the modernisation and redevelopment of existing products, working capital requirements, inorganic growth through unidentified acquisitions and other strategic initiatives, besides general corporate purposes.
SRIT India has already raised ₹65.52 crore from anchor investors. The company allotted 50.40 lakh shares to anchor investors at ₹130 apiece on September 25, ahead of the IPO opening.
SRIT India is a Bengaluru-based IT and IT-enabled services company providing digital solutions, custom application development and system integration services. Its operations span healthcare, electronic governance, telecommunications and broadband.
The company reported a 15% increase in revenue and a 29% rise in profit after tax (PAT) in FY26 compared with FY25. Its total income stood at ₹462.54 crore in FY26, up from ₹400.50 crore a year earlier, while PAT rose to ₹43.29 crore from ₹33.60 crore.
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