Comparison between Armour Security IPO and Oval Projects Engineering IPO.
Armour Security IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Oval Projects Engineering IPO is a SME Bookbuilding proposed to list at BSE SME.
| Armour Security IPO | Oval Projects Engineering IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Sobhagya Capital Options Pvt.Ltd. | SMC Capitals Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | MAS Services Ltd. |
| Market Maker | NNM Securities Pvt.Ltd. | SMC Global Securities Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Armour Security IPO is up to ₹25.17 Cr whereas the issue size of the Oval Projects Engineering IPO is up to ₹44.16 Cr. The final issue price of Armour Security IPO is ₹57.00 per share and of Oval Projects Engineering IPO is ₹85.00 per share.
| Armour Security IPO | Oval Projects Engineering IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹55.00 per share | ₹80.00 per share |
| Issue Price (Upper) | ₹57.00 per share | ₹85.00 per share |
| Issue Price (Final) | ₹57.00 per share | ₹85.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 2000 shares | 1600 shares |
| Fresh Issue Size | 44,16,000 shares | 51,95,200 shares |
| Fresh Issue Size (Amount) | up to ₹25.17 Cr | up to ₹44.16 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 44,16,000 shares | 51,95,200 shares |
| Issue Size Total (Amount) | up to ₹25.17 Cr | up to ₹44.16 Cr |
Armour Security IPO opens on Jan 14, 2026, while Oval Projects Engineering IPO opens on Aug 28, 2025. The closing date of Armour Security IPO and Oval Projects Engineering IPO is Jan 19, 2026, and Sep 01, 2025, respectively.
| Armour Security IPO | Oval Projects Engineering IPO | |
|---|---|---|
| Anchor Bid Date | Aug 26, 2025 | |
| Issue Open | Jan 14, 2026 | Aug 28, 2025 |
| Issue Close | Jan 19, 2026 | Sep 01, 2025 |
| Basis Of Allotment (Tentative) | Jan 20, 2026 | Sep 02, 2025 |
| Initiation of Refunds (Tentative) | Jan 21, 2026 | Sep 03, 2025 |
| Credit of Share (Tentative) | Jan 21, 2026 | Sep 03, 2025 |
| Listing date (Tentative) | Jan 22, 2026 | Sep 04, 2025 |
| Anchor Lockin End date 1 | Oct 03, 2025 | |
| Anchor Lockin End date 2 | Dec 01, 2025 |
Armour Security IPO P/E ratio is 17.53, as compared to Oval Projects Engineering IPO P/E ratio of 13.91.
| Armour Security IPO | Oval Projects Engineering IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)
| Company Financials (Restated Consolidated)Oval Projects Engineering Ltd.'s revenue increased by 31% and profit after tax (PAT) rose by 112% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 96.8 | 72.19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 70.12 | 53.07 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 17.53 | 13.91 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹96.16 Cr. | ₹176.54 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 21.56% | 20.85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 24.47% | 21.32% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹3.25 | ₹6.11 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 21.56% | 20.85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Armour Security IPO Retail Individual Investors (RII) are offered 21,80,000 shares while in Oval Projects Engineering IPO retail investors are offered 21,80,000 shares. Qualified Institutional Buyers (QIB) are offered 46,000 shares in Armour Security IPO and 6,24,000 shares in Oval Projects Engineering IPO.
| Armour Security IPO | Oval Projects Engineering IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 9,36,000 shares |
| Market Maker Reservation | 2,34,000 shares | 3,04,000 shares |
| QIB | 46,000 shares | 6,24,000 shares |
| NII | 21,90,000 shares | 14,40,000 shares |
| RII | 21,80,000 shares | 21,95,200 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 44,16,000 shares | 51,95,200 shares |
Armour Security IPO subscribed 1.82x in total, whereas Oval Projects Engineering IPO subscribed 1.61x.
| Armour Security IPO | Oval Projects Engineering IPO | |
|---|---|---|
| QIB (times) | 1.00x | 6.21x |
| NII (times) | 1.08x | 0.82x |
| Big NII (times) | 1.16x | 1.46x |
| Small NII (times) | 0.92x | 0.48x |
| RII (times) | 2.58x | 0.83x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.82x | 1.61x |
