Comparison between Armour Security IPO and GLEN Industries IPO.
Armour Security IPO is a SME Bookbuilding IPO proposed to list at NSE SME while GLEN Industries IPO is a SME Bookbuilding proposed to list at BSE SME.
| Armour Security IPO | GLEN Industries 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. | GYR Capital Advisors Pvt.Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | Kfin Technologies 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 | 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 GLEN Industries IPO is up to ₹59.79 Cr. The final issue price of Armour Security IPO is ₹57.00 per share and of GLEN Industries IPO is ₹97.00 per share.
| Armour Security IPO | GLEN Industries IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹55.00 per share | ₹92.00 per share |
| Issue Price (Upper) | ₹57.00 per share | ₹97.00 per share |
| Issue Price (Final) | ₹57.00 per share | ₹97.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ₹5.00 per share | |
| Market Lot Size | 2000 shares | 1200 shares |
| Fresh Issue Size | 44,16,000 shares | 61,71,600 shares |
| Fresh Issue Size (Amount) | up to ₹25.17 Cr | up to ₹59.79 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 | 61,71,600 shares |
| Issue Size Total (Amount) | up to ₹25.17 Cr | up to ₹59.79 Cr |
Armour Security IPO opens on Jan 14, 2026, while GLEN Industries IPO opens on Jul 08, 2025. The closing date of Armour Security IPO and GLEN Industries IPO is Jan 19, 2026, and Jul 10, 2025, respectively.
| Armour Security IPO | GLEN Industries IPO | |
|---|---|---|
| Anchor Bid Date | Jul 07, 2025 | |
| Issue Open | Jan 14, 2026 | Jul 08, 2025 |
| Issue Close | Jan 19, 2026 | Jul 10, 2025 |
| Basis Of Allotment (Tentative) | Jan 20, 2026 | Jul 11, 2025 |
| Initiation of Refunds (Tentative) | Jan 21, 2026 | Jul 14, 2025 |
| Credit of Share (Tentative) | Jan 21, 2026 | Jul 14, 2025 |
| Listing date (Tentative) | Jan 22, 2026 | Jul 15, 2025 |
| Anchor Lockin End date 1 | Aug 10, 2025 | |
| Anchor Lockin End date 2 | Oct 09, 2025 |
Armour Security IPO P/E ratio is 17.53, as compared to GLEN Industries IPO P/E ratio of 9.33.
| Armour Security IPO | GLEN Industries IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)
| Company Financials (Restated Consolidated)GLEN Industries Ltd.'s revenue increased by 18% and profit after tax (PAT) rose by 113% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 96.8 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 70.12 | 72.99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 17.53 | 9.33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹96.16 Cr. | ₹233.40 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 21.56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 24.47% | 16.94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.25 | 2.28 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹3.25 | ₹10.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 21.56% | 45.43% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Armour Security IPO Retail Individual Investors (RII) are offered 21,80,000 shares while in GLEN Industries IPO retail investors are offered 21,80,000 shares. Qualified Institutional Buyers (QIB) are offered 46,000 shares in Armour Security IPO and 12,04,800 shares in GLEN Industries IPO.
| Armour Security IPO | GLEN Industries IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 18,00,000 shares |
| Market Maker Reservation | 2,34,000 shares | 3,25,200 shares |
| QIB | 46,000 shares | 12,04,800 shares |
| NII | 21,90,000 shares | 9,06,000 shares |
| RII | 21,80,000 shares | 21,07,200 shares |
| Employee | 0 shares | 1,53,600 shares |
| Others | ||
| Total | 44,16,000 shares | 61,71,600 shares |
Armour Security IPO subscribed 1.82x in total, whereas GLEN Industries IPO subscribed 260.28x.
| Armour Security IPO | GLEN Industries IPO | |
|---|---|---|
| QIB (times) | 1.00x | 192.46x |
| NII (times) | 1.08x | 476.25x |
| Big NII (times) | 1.16x | 588.85x |
| Small NII (times) | 0.92x | 251.24x |
| RII (times) | 2.58x | 225.15x |
| Employee (times) | 0.36x | |
| Other (times) | ||
| Total (times) | 1.82x | 260.28x |
