Incorporated in August 1999, Armour Security India Ltd. provides a wide range of security and manpower services across India.
Armour Security IPO 2026 – Dates, Price Band, Lot Size, Review & Full Details
Book Building IPO | NSE SME
IPO Snapshot
14 January 2026
19 January 2026
20 January 2026
22 January 2026 (Tentative)
₹55 – ₹57 per share
2,000 shares
₹26.51 Crore
Bookbuilding IPO (Fresh Issue)
Armour Security IPO Key Details
| Particular | Details |
|---|---|
| IPO Dates | 14 to 19 January 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹55 to ₹57 per share |
| Total Issue Size | 46,50,000 shares (₹26.51 Cr) |
| Market Cap (Pre-IPO) | ₹96.16 Crore |
| Listing At | NSE SME |
| Issue Type | Book Building IPO |
| Sale Type | Fresh Capital |
| Registrar | Skyline Financial Services Pvt. Ltd. |
| Lead Manager | Sobhagya Capital Options Pvt. Ltd. |
| Market Maker | NNM Securities Pvt. Ltd. |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Wednesday, 14 January 2026 |
| IPO Closes | Monday, 19 January 2026 |
| Allotment | Tuesday, 20 January 2026 |
| Refunds | Wednesday, 21 January 2026 |
| Shares Credited | Wednesday, 21 January 2026 |
| Listing | Thursday, 22 January 2026 |
IPO Lot Size & Investment Details
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Minimum & Maximum) | 2 | 4,000 | 2,28,000 |
| S-HNI (Minimum) | 3 | 6,000 | 3,42,000 |
| S-HNI (Maximum) | 8 | 16,000 | 9,12,000 |
| B-HNI (Minimum) | 9 | 18,000 | 10,26,000 |
IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Market Maker | 2,34,000 (5.03%) |
| QIB | 46,000 (0.99%) |
| NII (HNI) | 21,90,000 (47.10%) |
| • bNII | 14,60,000 (31.40%) |
| • sNII | 7,30,000 (15.70%) |
| Retail | 21,80,000 (46.88%) |
| Total | 46,50,000 (100%) |
About Armour Security India Ltd.
Incorporated in August 1999, Armour Security India Ltd. provides a wide range of security and manpower services across India.
The company offers armed and unarmed guarding, integrated facility management, housekeeping, event management, firefighting services, supervision services, and other manpower solutions catering to corporate, industrial, banking, healthcare, government, education, and residential sectors.
The company operates on a PAN-India basis with multiple branch offices. As of February 28, 2025, the company had 37 permanent employees and 1,269 contractual employees.
Competitive Strengths
- Diversified security and manpower services portfolio
- Strong industry experience and operational expertise
- Compliance-driven operations with certifications
- High customer retention rate
- Use of technology in security operations
Financial Performance (₹ Crore)
| Particular | 30 Sep 2025 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| 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 |
| Total Assets | 32.10 | 27.37 | 23.61 | 15.51 |
| Total Borrowing | 6.01 | 4.69 | 1.80 | 0.85 |
Objects of the Issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Working capital requirements | 15.90 |
| Capital expenditure (machinery, equipment & vehicles) | 1.61 |
| Repayment / prepayment of borrowings | 2.40 |
| General corporate expenses | — |
Key Performance Indicators (KPI)
| 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% |
| Post-IPO P/E | 16.55x | |
Promoters
Mr. Vinod Gupta and Mrs. Arnima Gupta.
IPO Registrar
Skyline Financial Services Pvt. Ltd.
Phone: 022-28511022
Email: grievances@skylinerta.com
IPO Lead Manager
- Sobhagya Capital Options Pvt. Ltd.
Lead Manager reports include performance summary and tracker.
Company Contact Details
Armour Security India Ltd.
B-87, Second Floor, Defence Colony,
New Delhi – 110024
Phone: +91 9810139833
Email: cs@armoursecurities.com
Frequently Asked Questions (FAQ)
What is the Armour Security IPO date?
The IPO opens on 14 January 2026 and closes on 19 January 2026.
What is the price band of Armour Security IPO?
The price band is ₹55 to ₹57 per share.
What is the lot size of Armour Security IPO?
The minimum application size is 4,000 shares.
When will Armour Security IPO allotment be finalised?
The allotment is expected on 20 January 2026.
Where will Armour Security IPO list?
The IPO will list on NSE SME.