Bookbuilding IPO | ₹27 Cr | Listed at NSE SME
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 bidding started from Jan 14, 2026 and ended on Jan 19, 2026. The allotment for Armour Security IPO was finalized on Jan 20, 2026. The shares got listed on NSE SME on Jan 22, 2026.
Armour Security IPO price band is set at ₹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.
Sobhagya Capital Options Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is NNM Securities Pvt.Ltd..
Refer to Armour Security IPO RHP for detailed Information.
IPO Open
Wed, Jan 14, 2026
IPO Close
Mon, Jan 19, 2026
Issue Price
₹57 per share
Market Cap (Pre-IPO)
₹96.16 Cr
| IPO Date | 14 to 19 Jan, 2026 |
| Listed on | Thu, Jan 22, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹55 to ₹57 |
| Issue Price | ₹57 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 46,50,000 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 2,34,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹1 Cr) |
| Net Offered to Public | 44,16,000 shares (agg. up to ₹25 Cr) |
| Share Holding Pre Issue | 1,22,20,000 shares |
| Share Holding Post Issue | 1,68,70,000 shares |
| NSE Symbol | ARMOUR |
| ISIN | INE0TZX01019 |
Armour Security IPO offers total 46,50,000 shares. Out of which 46,000 (0.99%) allocated to QIB, 21,90,000 (47.10%) allocated to NII 21,80,000 (46.88%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,34,000 (5.03%) |
| QIB Shares Offered | 46,000 (0.99%) |
| NII (HNI) Shares Offered | 21,90,000 (47.10%) |
| − bNII > ₹10L | 14,60,000 (31.40%) |
| − sNII < ₹10L | 7,30,000 (15.70%) |
| Retail Shares Offered | 21,80,000 (46.88%) |
| Total Shares Offered | 46,50,000 (100.00%) |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,28,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,28,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,42,000 |
| S-HNI (Max) | 8 | 16,000 | ₹9,12,000 |
| B-HNI (Min) | 9 | 18,000 | ₹10,26,000 |
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:-
As of February 28th, 2025, the company had 37 permanent employees and 1269 contractual employees.
Competitive Strength:
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 32.10 | 27.37 | 23.61 | 15.51 |
| Total Income | 19.69 | 36.56 | 33.10 | 28.97 |
| Profit After Tax | 2.90 | 3.97 | 2.62 | 2.26 |
| EBITDA | 4.30 | 4.97 | 3.67 | 3.12 |
| NET Worth | 21.34 | 18.43 | 14.46 | 3.49 |
| Reserves and Surplus | 9.12 | 6.21 | 2.24 | 3.48 |
| Total Borrowing | 6.01 | 4.69 | 1.80 | 0.85 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of Working Capital requirement | 15.11 |
| 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 | 3.00 |
| 4 | General Corporate Expenses. | 3.60 |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 13.61% | 21.56% |
| ROCE | 15.45% | 24.47% |
| Debt/Equity | 0.28 | 0.25 |
| RoNW | 13.61% | 21.56% |
| PAT Margin | 14.76% | 11.14% |
| EBITDA Margin | 21.84% | 13.94% |
| Price to Book Value | 3.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.25 | 3.44 |
| P/E (x) | 17.53 | 16.55 |
| Promoter Holding | 96.80% | 70.12% |
| Market Cap | ₹96.16 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management Expenses (including Book Running Lead Manager Fees, Underwriter Fees, Legal Advisors, Market Maker, Registrar, etc.) | 1.68 |
| 2 | Advertising and Marketing Expenses | 1.26 |
| 3 | Regulatory and other fees | 0.07 |
| 4 | Printing, Stationery and Postage | 0.01 |
| 5 | Other Expenses (including Peer Review Auditor, Issue Related Certifications and Confirmations, Out of Pocket Expenses, Bankers to the Issue, etc.) | 0.16 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹57.00 |
| Open | ₹45.60 |
| Low | ₹43.35 |
| High | ₹45.60 |
| Last Trade | ₹43.35 |
Lead Manager Reports
Armour Security IPO is a SME IPO of 46,50,000 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹57 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Jan 14, 2026, and closes on Mon, Jan 19, 2026.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Armour Security IPO using UPI as a payment gateway. Zerodha customers can apply in Armour Security IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Armour Security IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Armour Security IPO opens on Wed, Jan 14, 2026 and closes on Mon, Jan 19, 2026.
Armour Security IPO lot size is 2000, and the minimum amount required for application is ₹2,28,000, with 2 lots being the minimum application size.
You can apply in Armour Security IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Armour Security IPO will be done on Tuesday, January 20, 2026, and the allotted shares will be credited to your demat account by Wed, Jan 21, 2026. Check the Armour Security IPO allotment status.
The Armour Security IPO listing date is on Thu, Jan 22, 2026.
