Bengaluru-based software solutions company Srit India has filed draft document with Securities and Exchange Board of India to raise funds via IPO for funding its capital expenditure and working capital requirements.
The IPO comprises of entirely fresh issue of 1.68 crore equity shares by the company.
The information technology and information technology enabled services solutions company offers digital solutions and automations of systems for healthcare, electronic governance, and telecommunications and broadband verticals.
It will spend Rs 15.3 crore of IPO proceeds for modernisation of existing products and redevelopment, and Rs 124 crore for funding its working capital requirements.
Further, the remainder funds will be utilised for achieving inorganic growth through unidentified acquisitions, and general corporate purposes.
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Promoters - Nambiar Raghavan Madhusoodan and his wife Prasaktha Vakkiyl Nambiar, and Martin Poovakkulam Chacko - hold 86.55 percent shareholding in Srit India, while the public shareholders own 13.45 percent stake in the company including 1.11 percent shares each of Fortune Hands Growth Fund, and Navbharat Investment Trust.
On the financial front, Srit India that competes with Mastek, Railtel Corporation of India, Protean eGov Technologies, Allied Digital Services, and Aurionpro Solutions has reported profit of Rs 20 crore on revenue of Rs 232.6 crore for six months period ended September 2025.
Profit in the fiscal 2025 grew by 15.8 percent to Rs 33.65 crore, increasing from Rs 29 crore in previous year. Revenue during the same period surged 43.6 percent to Rs 389.3 crore, up from Rs 271 crore.
Choice Capital Advisors is appointed as the merchant banker for the Srit India IPO.
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