SRIT India IPO - QuickView
SRIT India IPO — QuickView I went through the RHP, and honestly, this is not a “story-only” IPO. SRIT has been in the IT business since 1999 , working across e-governance, telecom & healthcare, with government/public-sector clients and a 26-year operating track record. Financials look decent: Revenue grew from ₹271 Cr → ₹450 Cr and PAT from ₹29 Cr → ₹43 Cr between FY24–FY26. At the ₹123–130 price band , FY26 EPS of ₹9.47 implies roughly 13.0–13.7x P/E . The disclosed peer average is 18.3x, so the headline valuation doesn't look stretched. Promoters: RHP does not disclose criminal proceedings, SEBI penalties, regulatory actions or material civil proceedings against the promoters. That’s a positive from a governance-screening perspective. But here’s what I don't want to ignore: FY26 operating cash flow was negative ₹12 Cr despite ₹43 Cr PAT . The company also has a sizeable working-capital requirement, which is why ₹124 Cr of IPO proceeds is earmarked for wor...