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Armour Security IPO vs Super Iron Foundry IPO

Comparison between Armour Security IPO and Super Iron Foundry IPO.

IPO Details

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 IPOSuper Iron Foundry IPO
LogoArmour Security IPO LogoSuper Iron Foundry IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeBookbuildingFixed Price
Listing AtNSE SMEBSE SME
Lead ManagersSobhagya Capital Options Pvt.Ltd.Horizon Management Pvt.Ltd.
RegistrarSkyline Financial Services Pvt.Ltd.MUFG Intime India Pvt.Ltd.
Market MakerNNM Securities Pvt.Ltd.Giriraj Stock Broking Pvt.Ltd.
DRHPDRHP DRHP
RHPRHP RHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

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 IPOSuper 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 Size2000 shares1200 shares
Fresh Issue Size44,16,000 shares59,85,600 shares
Fresh Issue Size (Amount)up to ₹25.17 Crup to ₹64.64 Cr
OFS Issue Size0 shares0 shares
OFS Issue Size (Amount)up to ₹0.00 Crup to ₹0.00 Cr
Issue Size Total44,16,000 shares59,85,600 shares
Issue Size Total (Amount)up to ₹25.17 Crup to ₹64.64 Cr

IPO Timetable

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 IPOSuper Iron Foundry IPO
Anchor Bid Date
Issue OpenJan 14, 2026Mar 11, 2025
Issue CloseJan 19, 2026Mar 13, 2025
Basis Of Allotment (Tentative)Jan 20, 2026Mar 17, 2025
Initiation of Refunds (Tentative)Jan 21, 2026Mar 18, 2025
Credit of Share (Tentative)Jan 21, 2026Mar 18, 2025
Listing date (Tentative)Jan 22, 2026Mar 19, 2025
Anchor Lockin End date 1
Anchor Lockin End date 2

Financials & KPIs

Armour Security IPO P/E ratio is 17.53, as compared to Super Iron Foundry IPO P/E ratio of 46.84.

 Armour Security IPOSuper Iron Foundry IPO
Financials

Company Financials (Restated)

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets32.1027.3723.6115.51
Total Income19.6936.5633.1028.97
Profit After Tax2.903.972.622.26
EBITDA4.304.973.673.12
NET Worth21.3418.4314.463.49
Reserves and Surplus9.126.212.243.48
Total Borrowing6.014.691.800.85
Amount in ₹ Crore

Company Financials (Restated)

Period Ended31 Dec 202431 Mar 202431 Mar 202331 Mar 2022
Assets226.62232.32209.20197.75
Total Income94.91156.87126.23132.31
Profit After Tax9.533.941.280.88
NET Worth70.5956.5652.6251.33
Reserves and Surplus53.5040.0636.1234.83
Total Borrowing110.96118.63120.44125.72
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)96.896.53
Promoter Shareholding (Post-Issue)70.1270.53
P/E Ratio17.5346.84
Market Cap₹96.16 Cr.₹252.65 Cr.
ROE21.56%7.53%
ROCE24.47%7.22%
Debt/Equity0.256.26
EPS₹3.25₹2.31
RoNW21.56%6.97%

Shares Offered

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 IPOSuper Iron Foundry IPO
Anchor Investor Reservation0 shares0 shares
Market Maker Reservation2,34,000 shares3,15,600 shares
QIB46,000 shares0 shares
NII21,90,000 shares29,92,800 shares
RII21,80,000 shares29,92,800 shares
Employee0 shares0 shares
Others
Total44,16,000 shares59,85,600 shares

Bids Received (Subscription)

Armour Security IPO subscribed 1.82x in total, whereas Super Iron Foundry IPO subscribed 1.56x.

 Armour Security IPOSuper Iron Foundry IPO
QIB (times)1.00x
NII (times)1.08x1.34x
Big NII (times)1.16x
Small NII (times)0.92x
RII (times)2.58x1.79x
Employee (times)
Other (times)
Total (times)1.82x1.56x

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Compare:

Armour Security IPO Vs Super Iron Foundry IPO