Shares of SRIT India and made a positive debut on the stock exchanges on Tuesday, October 6, with both stocks listing above their respective IPO issue prices. SRIT India emerged as the stronger performer, gaining nearly 19 per cent from its issue price during early trade.
SRIT India shares listed at ₹148 on the NSE, marking a 13.85 per cent premium over the IPO price of ₹130. On the BSE, the stock debuted at ₹139.80, a 7.54 per cent premium.
SRIT India Limited is an Information Technology and Information Technology enabled Services (IT/ITeS) solutions company providing digital solutions, custom application development and system integration services. The company designs, implements and operates digital platforms for Government entities and Enterprises in India and select overseas markets. The Public issue was of ₹218Cr.
The stock subsequently climbed to ₹155.09 on the NSE and ₹155.05 on the BSE, hitting the upper circuit and translating into a gain of nearly 19 per cent over the issue price.
The strong debut followed intense demand for the IPO, which was subscribed 125.16 times overall. The company raised ₹218.40 crore through a fresh issue, with the proceeds earmarked primarily for working capital and capital expenditure.
Shares of Shah Investor’s Home made a more modest debut, listing at ₹171 on both the NSE and BSE, representing a 2.39 per cent premium over the IPO price of ₹167.
The stock later climbed to its upper circuit of ₹179.55 on the exchanges. At the time of reporting, it was trading at ₹176.70, translating into listing gains of nearly 6 per cent from the issue price.
Shah Investor’s Home had also received strong investor interest during its IPO, with the issue subscribed 38.12 times overall. The company raised around ₹90 crore, with the proceeds mainly intended to meet its working capital requirements.
Dr. Ravi Singh, Chief Research Officer at Master Capital Services, noted the company’s established retail broking business and said investors will watch for sustained revenue and profit growth, margin expansion, client-base growth and steady operating cash flows in the coming quarters.
For SRIT India, he highlighted the company’s 26-year track record in IT/ITeS and digital solutions, including large government projects, and said investors should track revenue growth, profitability, execution of expansion plans and cash-flow generation, with long-term prospects supported by rising demand for digital transformation and technology infrastructure.