Armour Security India IPO
Bookbuilding IPO | ₹27.00 Cr | Listing at NSE SME
IPO Open
Wed, Jan 14, 2026
IPO Close
Mon, Jan 19, 2026
Price Band
₹55.00 to ₹57.00
Market Cap (Pre-IPO)
₹96.16 Cr
IPO Details
| IPO Date | Jan 14, 2026 to Jan 19, 2026 |
| Listing Date | Tentative: Jan 22, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹55.00 to ₹57.00 |
| Lot Size | 2000 Shares (Minimum: ₹114,000.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Issue Size | ₹27.00 Crores |
| Total Shares Offered | 4,650,000 shares |
| Offer For Sale | 4,650,000 shares |
Armour Security India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 46,000 (0.99%) |
| Retail Shares Offered | 21,80,000 (46.88%) |
| NII Shares Offered | 21,90,000 (47.10%) |
Armour Security India IPO Lot Size
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹228,000 |
| Retail (Max) | 2 | 4,000 | ₹228,000 |
| S-HNI (Min) | 3 | 6,000 | ₹342,000 |
| S-HNI (Max) | 8 | 16,000 | ₹912,000 |
| B-HNI (Min) | 9 | 18,000 | ₹1,026,000 |
Armour Security India Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2025 |
|---|---|
| Assets | 32.10 |
| Total Income | 19.69 |
| Profit After Tax | 2.90 |
| EBITDA | 4.30 |
| NET Worth | 21.34 |
| Reserves and Surplus | 9.12 |
| Total Borrowing | 6.01 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 21.56% |
| ROCE (Return on Capital Employed) | 24.47% |
| Debt/Equity | 0.25 |
| RoNW (Return on Net Worth) | 21.56% |
| PAT Margin (Profit After Tax Margin) | 11.14% |
| EBITDA Margin | 13.94% |
| Price to Book Value | 3.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.14 | 2.95 |
| P/E (x) | 26.61 | 19.33 |
| Promoter Holding | 96.80% | 0.00% |
Company Promoters
- The promoters of the company are Mr. Vinod Gupta and Mrs. Arnima Gupta.
Company Overview
Incorporated in August 1999, Armour Security India specializes in providing a range of security services including armed guarding, manpower services, and consultancy, primarily focused on commercial and residential security needs across various sectors.
The company is known for its comprehensive security solutions and reputation for reliable service within the Indian market.
The company has PAN India operations with branches in various states to navigate the ever-changing dynamics of the security market.
The company offers its clientele a comprehensive private security solution, encompassing security planning and management services.
The company offers individual security personnel and full teams tailored to sectors like corporate, industrial, banking, healthcare, government, education, and universities.
The company offers integrated facility management, housekeeping, and manpower services, comprising skilled, semi-skilled, and unskilled personnel.
The company's services include the following:-
- Private Security Services: Private security services provide trained security guards based on client requirements.
- Integrated Facility Management Services: Offerings include daily cleaning services, waste disposal, building systems maintenance and security.
- House Keeping Services: Offers office cleaning services, including dusting, surface cleaning, carpet cleaning, and bathroom maintenance.
- Event Management Services: Event Management for weddings, parties, conferences, and product launches.
- Firefighting Services: Firefighting services include training in drills, equipment use, and safety procedures.
- Security Training: Offers training for security officers on critical security issues and policies.
- Supervision Services: Supervision Services tailored to client needs and industry standards.
- Other Manpower Services: Offers skilled, semi-skilled, or unskilled blue-collar manpower for various tasks, including data entry operators, pantry staff, gardeners, drivers, cooks, attendants, plumbers, electricians, and clerks as clients need.
As of February 28th, 2025, the company had 37 permanent employees and 1269 contractual employees.
Company Strengths
- Diversified Services Portfolio
- Expertise and Experience.
- Compliance and Certifications.
- Customer Retention.
- Technology Integration
Use of Proceeds
| 1) | Funding of Working Capital requirement | 15.90 |
| 2) | Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles | 1.61 |
| 3) | Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company | 2.40 |
| 4) | General Corporate Expenses. |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Armour Security India IPO Peer Comparison
Armour Security India peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Armour Security India Limited | 3.25 | 0.00 | 15.08 | 0.00 | 21.56 | 0.00 | - |
| Rithwik Facility Management Services Ltd | 8.79 | 0.00 | 43.81 | 34.12 | 20.07 | 6.98 | Consolidated |
Quick Info
| Sector | Security Services, Manpower Services, and Integrated Facility Management |
| Exchange | NSE SME |
| Market Cap (Pre-IPO) | ₹96.16 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Jan 14, 2026 |
| IPO Close | Jan 19, 2026 |
| Allotment Date | Jan 20, 2026 |
| Credit to Demat | Jan 21, 2026 |
| Listing Date | Tentative: Jan 22, 2026 |
Lead Manager(s)
Sobhagya Capital Options Pvt.Ltd.
Registrar
Skyline Financial Services Pvt.Ltd.
02228511022
Description
- Armour Security IPO is a book build issue of ₹26.51 crores. The issue is entirely a fresh issue of 0.47 crore shares of ₹26.51 crore.
- Armour Security IPO opens for subscription on Jan 14, 2026 and closes on Jan 19, 2026. The allotment for the Armour Security IPO is expected to be finalized on Jan 20, 2026. Armour Security IPO will list on NSE SME with a tentative listing date fixed as Jan 22, 2026.
- Armour Security IPO price band is set at ₹55 to ₹57 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,28,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,42,000.