SRIT India and Shah Investors rise strongly
On Tuesday, October 6, SRIT India and Shah Investor’s Home both launched successfully on stock exchanges, opening above their initial public offering (IPO) prices. SRIT India led with a robust performance, rising by approximately 19% from its issue price in early trading.
At the NSE, SRIT India opened at ₹148, reflecting a 13.85% increase over its ₹130 IPO price. On the BSE, it started at ₹139.80, a 7.54% premium. SRIT India Limited specializes in IT and IT-enabled services (IT/ITeS), offering digital solutions, custom application development, and system integration. The company creates, deploys, and manages digital platforms for government bodies and businesses in India and selected international markets.
The IPO raised ₹218 crore. The stock peaked at ₹155.09 on the NSE and ₹155.05 on the BSE, reaching the upper circuit limit and achieving a nearly 19% gain over the issue price.
This strong debut followed high demand for the IPO, which was oversubscribed by 125.16 times. The company secured ₹218.40 crore from the fresh issue, primarily for working capital and capital expenditures.
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Shah Investor’s Home had a more subdued start, opening at ₹171 on both the NSE and BSE, a 2.39% premium over its ₹167 IPO price. The stock later hit its upper circuit at ₹179.55 on both exchanges.
At the time of reporting, it traded at ₹176.70, marking a nearly 6% gain from the issue price. The IPO for Shah Investor’s Home also attracted strong interest, with subscriptions reaching 38.12 times the offer size. The company raised approximately ₹90 crore, mainly for working capital needs.
Dr. Ravi Singh, Chief Research Officer at Master Capital Services, acknowledged the company’s established retail broking business, noting that investors will monitor revenue and profit growth. For SRIT India, Dr. Singh emphasized its 26-year history in IT/ITeS and digital solutions, including major government projects. He advised investors to focus on revenue growth, profitability, expansion execution, and cash flow, citing long-term potential driven by increasing demand for digital transformation and technology infrastructure.
