Valuation
Market Cap
₹96.16 Cr
P/E Ratio
17.54x
P/B Ratio
3.78x
Armour Security IPO Dates
Conflicting IPOs
IPOs with overlapping timeline
Business Overview
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.
Lots & IPO Size
Armour Security IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 4,000 | ₹2,28,000 |
| Ind (Max) | 2 | 4,000 | ₹2,28,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,42,000 |
| S-HNI (Max) | 8 | 16,000 | ₹9,12,000 |
| B-HNI (Min) | 9 | 18,000 | ₹10,26,000 |
Armour Security IPO Size
Objects of Issue
- 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 Live Subscription
Updated as on 19-Jan-2026 19:00:07 hrs
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 1.00x | 46,000 | 46,000 |
| NII | 1.08x | 21,90,000 | 23,70,000 |
| bHNI | 1.16x | 14,60,000 | 16,96,000 |
| sHNI | 0.92x | 7,30,000 | 6,74,000 |
| Individual | 2.58x | 21,80,000 | 56,24,000 |
| Total | 1.82x | 44,16,000 | 80,40,000 |
Armour Security IPO Details Live GMP
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 21 Jan | ₹0 (0%) | ₹57 |
| 20 Jan | ₹0 (0%) | ₹57 |
| 19 Jan | ₹0 (0%) | ₹57 |
| 18 Jan | ₹4 (7%) | ₹61 |
| 17 Jan | ₹4 (7%) | ₹61 |
| 16 Jan | ₹4 (7%) | ₹61 |
| 15 Jan | ₹4 (7%) | ₹61 |
| 14 Jan | ₹4 (7%) | ₹61 |
| 13 Jan | ₹4 (7%) | ₹61 |
| 12 Jan | ₹1 (1.8%) | ₹58 |
| 11 Jan | ₹1 (1.8%) | ₹58 |
| 10 Jan | ₹1 (1.8%) | ₹58 |
| 09 Jan | ₹1 (1.8%) | ₹58 |
Armour Security IPO Peer Comparison
(Rs. in crores)
| 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 Financial Performance
(Rs. in crores)
| 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 |
Key Performance Indicators (KPIs)
EBITDA
13.94%
PAT
11.14%
ROE
21.56%
ROCE
24.47%
Debt to Equity
0.25
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Promoter Holding
Promoter
96.80%
Public
3.20%
Management
Registrar & Lead Managers
Registrar
Skyline Financial Services
Lead Managers (1)
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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Frequently Asked Questions (FAQs)
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How to apply Armour Security IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Armour Security IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Armour Security IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Armour Security IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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