SRIT India raises $22.6M in IPO, lists on NSE and BSE
What's the deal? Sobha Renaissance Information TechnologyDealroom has a profile for this one. Try Dealroom →, which trades as SRIT IndiaDealroom has a profile for this one. Try Dealroom →, raised US$29.6M in its initial public offering and listed on the NSEDealroom has a profile for this one. Try Dealroom → and BSEDealroom has a profile for this one. Try Dealroom → on October 6, 2026. The Bengaluru-based IT and IT-enabled services firm sold 16,800,000 shares at a price band of US$1.67 to US$1.77 each, pricing the issue at US$29.7M at the top end.
Why now? The IPO ran from September 28 to September 30, 2026, with anchor bidding on September 25. Half the issue was reserved for qualified institutional buyers, at least 15% for non-institutional investors, and at least 35% for individual investors.
What's the endgame? Per its prospectus, SRIT plans to use net proceeds for capital expenditure to modernise products, working capital, acquisitions and other strategic initiatives, and general corporate purposes. The company builds and runs digital platforms for government bodies and enterprises in India and select overseas markets.
By the numbers: SRIT reported FY26 revenue of US$61.1M, an EBITDA margin of 14.39%, and a profit margin of 9.62%. Its operations span e-governance, telecommunications and broadband, and healthcare.
Choice Capital AdvisorsDealroom has a profile for this one. Try Dealroom → was book running lead manager; KFin TechnologiesDealroom has a profile for this one. Try Dealroom → served as registrar.
The signal: A modestly sized, profitable IT services firm tapping public markets points to continued appetite among Indian investors for smaller listings tied to government digitisation work.
Read more: outlookbusiness.com
Image credit: Generated with Gemini
