Comparison between Armour Security IPO and Super Iron Foundry IPO.
Armour Security IPO is a SME Fixed Price IPO proposed to list at NSE SME while Super Iron Foundry IPO is a SME Fixed Price proposed to list at BSE SME.
| Armour Security IPO | Super Iron Foundry IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Fixed Price |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Sobhagya Capital Options Pvt.Ltd. | Horizon Management Pvt.Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | MUFG Intime India Pvt.Ltd. |
| Market Maker | NNM Securities Pvt.Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| 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 Super Iron Foundry IPO is up to ₹64.64 Cr. The final issue price of Armour Security IPO is ₹57.00 per share and of Super Iron Foundry IPO is ₹108.00 per share.
| Armour Security IPO | Super Iron Foundry IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹55.00 per share | |
| Issue Price (Upper) | ₹57.00 per share | |
| Issue Price (Final) | ₹57.00 per share | ₹108.00 per share |
| Discount (Retail) | ₹0.00 per share | |
| Discount (Employee) | ||
| Market Lot Size | 2000 shares | 1200 shares |
| Fresh Issue Size | 44,16,000 shares | 59,85,600 shares |
| Fresh Issue Size (Amount) | up to ₹25.17 Cr | up to ₹64.64 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 | 59,85,600 shares |
| Issue Size Total (Amount) | up to ₹25.17 Cr | up to ₹64.64 Cr |
Armour Security IPO opens on Jan 14, 2026, while Super Iron Foundry IPO opens on Mar 11, 2025. The closing date of Armour Security IPO and Super Iron Foundry IPO is Jan 19, 2026, and Mar 13, 2025, respectively.
| Armour Security IPO | Super Iron Foundry IPO | |
|---|---|---|
| Anchor Bid Date | ||
| Issue Open | Jan 14, 2026 | Mar 11, 2025 |
| Issue Close | Jan 19, 2026 | Mar 13, 2025 |
| Basis Of Allotment (Tentative) | Jan 20, 2026 | Mar 17, 2025 |
| Initiation of Refunds (Tentative) | Jan 21, 2026 | Mar 18, 2025 |
| Credit of Share (Tentative) | Jan 21, 2026 | Mar 18, 2025 |
| Listing date (Tentative) | Jan 22, 2026 | Mar 19, 2025 |
| Anchor Lockin End date 1 | ||
| Anchor Lockin End date 2 |
Armour Security IPO P/E ratio is 17.53, as compared to Super Iron Foundry IPO P/E ratio of 46.84.
| Armour Security IPO | Super Iron Foundry IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)
| Company Financials (Restated)
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 96.8 | 96.53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 70.12 | 70.53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 17.53 | 46.84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹96.16 Cr. | ₹252.65 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 21.56% | 7.53% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 24.47% | 7.22% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.25 | 6.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹3.25 | ₹2.31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 21.56% | 6.97% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Armour Security IPO Retail Individual Investors (RII) are offered 21,80,000 shares while in Super Iron Foundry IPO retail investors are offered 21,80,000 shares. Qualified Institutional Buyers (QIB) are offered 46,000 shares in Armour Security IPO and 0 shares in Super Iron Foundry IPO.
| Armour Security IPO | Super Iron Foundry IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 0 shares |
| Market Maker Reservation | 2,34,000 shares | 3,15,600 shares |
| QIB | 46,000 shares | 0 shares |
| NII | 21,90,000 shares | 29,92,800 shares |
| RII | 21,80,000 shares | 29,92,800 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 44,16,000 shares | 59,85,600 shares |
Armour Security IPO subscribed 1.82x in total, whereas Super Iron Foundry IPO subscribed 1.56x.
| Armour Security IPO | Super Iron Foundry IPO | |
|---|---|---|
| QIB (times) | 1.00x | |
| NII (times) | 1.08x | 1.34x |
| Big NII (times) | 1.16x | |
| Small NII (times) | 0.92x | |
| RII (times) | 2.58x | 1.79x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.82x | 1.56x |
