Armour Security (India) Ltd. IPO
Armour security was established in 1999 and specializes in providing comprehensive private security and integrated facility management solutions across India. The Company offers a wide range of services including security planning and management, integrated facility management, housekeeping services, and manpower provision comprising skilled, semi-skilled and unskilled personnel to meet diverse client requirements. With over two decades of operational experience, ARMOUR SECURITY (INDIA) LTD. has built a strong presence in the security manpower services and facility management sector. From its inception with a single office in Defence Colony, Delhi, the Company has expanded its footprint across multiple states, consistently delivering reliable, quality-driven services to government, institutional and private clients.
Price Band₹55 - ₹57 |
Dates14 Jan - 19 Jan |
GMP₹0 (0.00%) |
Subscriptions1.87 times |
Issue Size₹26.51 Crs |
Armour Security IPO Key Dates
Opening Date
14 Jan 26
Closing Date
19 Jan 26
Basis Of Allotment
20 Jan 26
Initiations Of Refund
21 Jan 26
Credit Of Shares
21 Jan 26
Listing Date
22 Jan 26
Armour Security IPO Objects
- Funding of Working Capital requirements
- Funding Capital expenditure requirements for purchasing machinery, equipment & vehicles
- Payment of, in part or full, certain outstanding borrowings of the Company
- General Corporate Purposes
Armour Security IPO Details
Price Band₹55 - ₹57 |
Listing AtNSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹26.51 Cr (0.47 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹26.51 Cr (0.47 Cr Shares) |
Face Value₹10 per equity share |
Armour Security IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Individual Investor |
Minimum
2
4,000
2,28,000
Maximum
2
4,000
2,28,000
|
|||
| Small HNI |
Minimum
3
6,000
3,42,000
Maximum
8
16,000
9,12,000
|
|||
| Big HNI |
Minimum
9
18,000
10,26,000
|
|||
Armour Security IPO Subscription
Updated as on 19-Jan-2026 19:00:07 hrs
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 1.00 | 46,000 | 46,000 |
| NII | 1.19 | 21,90,000 | 26,04,000 |
| bNII | 1.32 | 14,60,000 | 19,30,000 |
| sNII | 0.92 | 7,30,000 | 6,74,000 |
| Individual Investor | 2.58 | 21,80,000 | 56,24,000 |
| Total | 1.87 | 44,16,000 | 82,74,000 |
Armour Security IPO GMP
The estimated Grey Market Premium of Armour Security IPO is ₹0 per share (0.00%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 50% of Net Offer |
| NII | Not less than 15% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Market Maker | 2,34,000 Eq.Shares |
Armour Security IPO Financials
| Particulars | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue | 19.68 | 35.66 | 32.93 | 28.85 |
| PAT | 2.90 | 3.97 | 2.62 | 2.26 |
| Net Worth | 21.34 | 18.43 | 14.46 | 3.49 |
| Borrowings | 6.01 | 4.69 | 1.80 | 0.85 |
| Assets | 32.10 | 27.37 | 23.61 | 15.51 |
| NAV (₹) | 17.46 | 15.08 | 11.83 | 6.43 |
| EPS (₹) | 2.38 | 3.25 | 3.67 | 4.16 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | VALUES |
|---|---|
| EBITDA | 13.94% |
| PAT | 11.14% |
| ROE | 21.56% |
| ROCE | 24.47% |
| Debt to Equity | 0.25 |
| PE Ratio | 17.54 |
| PB Ratio | 3.78 |
| Mkt Cap (in Crs.) | 96.16 |
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Armour Security IPO Peer Comparision
| Particulars | Armour Security | Kapston Services |
|---|---|---|
| Revenue | 35.66 | 689.43 |
| PAT | 3.97 | 17.84 |
| EPS (₹) | 3.25 | 8.79 |
| NAV (₹) | 15.08 | 43.81 |
| RONW | 21.56% | 20.07% |
| EBITDA | 13.94% | 4.49% |
| PAT Mrgn | 11.14% | 2.59% |
| PE Ratio | 17.54 | 34.12 |
| Debt to Equity | 0.25 | 1.81 |
All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 31st, 2025 for Peers
Armour Security IPO Peer Comparision
| Particulars | Armour Security |
|---|---|
| Revenue | 35.66 |
| PAT | 3.97 |
| EPS (₹) | 3.25 |
| NAV (₹) | 15.08 |
| RONW | 21.56% |
| EBITDA | 13.94% |
| PAT Mrgn | 11.14% |
| PE Ratio | 17.54 |
| Debt to Equity | 0.25 |
| Kapston Services |
|---|
| 689.43 |
| 17.84 |
| 8.79 |
| 43.81 |
| 20.07% |
| 4.49% |
| 2.59% |
| 34.12 |
| 1.81 |
All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 31st, 2025 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| Vinod Gupta | 48.40% |
| Arnima Gupta | 48.40% |
| Total | 96.80% |
Management Details
| Name | Designation |
|---|---|
| Krishna Singh | Chairman |
| Arnima Gupta | MD |
| Subodh Jindal | CFO |
Company Details
Name: Armour Security (India) Ltd.
Address: B-87, Second Floor Defense Colony, New Delhi, Delhi, India, 110024.
Number: 9198101398 33
Email: cs@armoursecurities.com
Website: www.armoursecurities.com
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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Armour Security IPO is a SME IPO having an issue size of Rs. ₹26.51 Crs. Armour Security IPO is priced at ₹55 - ₹57 per share. The issue opens on 14 Jan 26 and closes on 19 Jan 26.
Armour Security IPO opens on 14 Jan 26 and closes on 19 Jan 26.
The estimated Grey Market Premium of Armour Security IPO is ₹0 per share (0.00%).
The minimum lot size of Armour Security IPO is 2000 shares & the minimum application amount is Rs. 114000.
The allotment date of Armour Security IPO is 20 Jan 26.
The listing date of Armour Security IPO is 22 Jan 26.
Armour Security IPO is subscribed 1.87 times.
Armour Security IPO is priced at ₹55 - ₹57 per share.
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