Armour Security IPO
Armour Security IPO
Overview
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 opens for subscription on Jan 14, 2026 and closes on Jan 19, 2026. The allotment for the Armour Security IPO is expected to be finalized on Jan 20, 2026. Armour Security IPO will list on NSE SME with a tentative listing date fixed as Jan 22, 2026. Armour Security IPO price band is set at ₹55 to ₹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. Corpwis Advisors Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue.
Total Shares
46,50,000
Issue Size
₹27 Cr
Price Band
₹55 – ₹57
Lot Size
2000 shares
Min. Investment
₹2,28,000
Max. Investment
₹2,28,000
Open Date
14 Jan, 2026
Close Date
19 Jan, 2026
Allotment
20 Jan, 2026
Listing
22 Jan, 2026
Max. Investment
₹2,28,000
Announced
14 Jan, 2026
Opening Date
14 Jan, 2026
Closing Date
19 Jan, 2026
Basis of Allotment
20 Jan, 2026
Initiation of Refunds
21 Jan, 2026
Credit of Shares
21 Jan, 2026
Listing Date
22 Jan, 2026
Live GMP
Est. Listing: ₹61
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About Armour Security IPO
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
Armour Security IPO Share Price
Issue Breakdown
Shareholding
Dilution: 38.1% increase in shares
Armour Security IPO Financial Health
Armour Security IPO Lot Size
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 | 4000 | ₹2,28,000 |
| Individual investors (Retail) (Max) | 2 | 4000 | ₹2,28,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,42,000 |
| S-HNI (Max) | 8 | 16000 | ₹9,12,000 |
| B-HNI (Min) | 9 | 18000 | ₹10,26,000 |
(All values in CR)
Armour Security IPO Valuations
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 21.56 |
| ROCE | 24.47 |
| Debt/Equity | 0.25 |
| RoNW | 21.56 |
| PAT Margin | 11.14 |
| EBITDA Margin | 13.94 |
| Price to Book Value | 3.78 |
(All values in CR)
Armour Security IPO Strength & Risk
Armour Security India IPO – Strengths
Provides integrated services including security manpower and facility management
Operates in a growing private security and facility management industry
Long-standing experience and established operational track record
Uses technology systems to manage workforce and operations efficiently
Holds required regulatory approvals and industry certifications
Diversified client base across multiple sectors
Demonstrated stable revenue generation from core services
Armour Security India IPO – Risks
Business is manpower-intensive leading to high employee-related costs
Dependence on a limited number of large clients
Revenue largely concentrated in specific regions
Working capital intensive operations may impact cash flows
Subject to strict regulatory and labour law compliance
Faces intense competition from unorganised and leading organised players
SME listing may result in lower liquidity and higher price volatility
Armour Security IPO Subscriptions Status
Armour Security IPO subscribed 0.50 times. The public issue subscribed 0.39 times in the individual investors category, 1.00 times in QIB (Ex Anchor), and 0.60 times in the NII category by January 16, 2026 6:54:59 PM (Day 2).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Market Maker | 1.00 | 2,34,000 | 2,34,000 | 1.334 |
| QIB (Ex Anchor) | 1.00 | 46,000 | 46,000 | 0.262 |
| NII | 0.60 | 21,90,000 | 13,20,000 | 7.524 |
| bNII (> ₹10L) | 0.86 | 14,60,000 | 12,56,000 | 7.159 |
| sNII (< ₹10L) | 0.09 | 7,30,000 | 64,000 | 0.365 |
| Individual Investors | 0.39 | 21,80,000 | 8,56,000 | 4.879 |
| Total | 0.50 | 44,16,000 | 22,22,000 | 12.665 |
Armour Security IPO GMP
Armour Security SME IPO last GMP is ₹4, last updated Jan 17th 2026 01:00 PM. With the price band of 57.00, Armour Security SME IPO's estimated listing price is ₹61 (cap price + today's GMP).The expected percentage gain/loss per share is 7.02%. >> Armour Security SME IPO Retail Subject to Sauda: ₹6100 The lowest GMP is ₹1.00, while the highest GMP is ₹4.00.
Last updated 17 Jan, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 17 Jan, 2026 | 57 | ₹4 | 6100 | ₹61 (7.02%) | 8000 | 17 Jan, 2026 |
| 16 Jan, 2026 | 57 | ₹4 | 6100 | ₹61 (7.02%) | 8000 | 16 Jan, 2026 |
| 15 Jan, 2026 | 57 | ₹4 | 6100 | ₹61 (7.02%) | 8000 | 15 Jan, 2026 |
| 14 Jan, 2026 | 57 | ₹4 | 6100 | ₹61 (7.02%) | 8000 | 14 Jan, 2026 |
| 13 Jan, 2026 | 57 | ₹4▲ | 6100 | ₹61 (7.02%) | 8000 | 13 Jan, 2026 |
| 12 Jan, 2026 | 57 | ₹2▲ | 3000 | ₹59 (3.51%) | 4000 | 12 Jan, 2026 |
| 11 Jan, 2026 | 57 | ₹1 | 1500 | ₹58 (1.75%) | 2000 | 11 Jan, 2026 |
| 10 Jan, 2026 | 57 | ₹1 | 1500 | ₹58 (1.75%) | 2000 | 10 Jan, 2026 |
| 09 Jan, 2026 | 57 | ₹1 | 1500 | ₹58 (1.75%) | 2000 | 09 Jan, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Armour Security IPO
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Find Armour Security IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.