Armour Security India IPO
IPO Listing Details
- Listing Date
22 Jan 2026
- Listing Price
₹ 45.60
- Listing Change
-
- Last Traded Price
₹ 30.40
Armour Security India IPO Details
-
Open Date
14 Jan 2026
-
Close Date
19 Jan 2026
-
Listing Date
22 Jan 2026
- IPO Price Range
₹ 55 to ₹57
- IPO Size
₹ 27 Cr
- Listing Exchange
NSE SME
Armour Security India IPO Timeline
Armour Security India IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 14-Jan-2026 | 0.00 | 0.02 | 0.08 | 0.05 |
| 16-Jan-2026 | 1.00 | 0.60 | 0.39 | 0.50 |
| 19-Jan-2026 | 1.00 | 1.08 | 2.58 | 1.82 |
Last Updated: 19 January 2026 6:32 PM by 5paisa
Armour Security (India) Limited is a pan-India service company providing customised security, facility management, and staffing solutions to government bodies, public sector undertakings, and private enterprises. The company delivers end-to-end manpower-led services designed around client-specific operational, safety, and compliance needs. With a presence across multiple states and a diversified service portfolio, Armour Security operates as a structured, process-driven service provider catering to varied sectors such as infrastructure, healthcare, education, industrial, and commercial establishments.
Established in: 1999
Managing Director: Mrs. Arnima Gupta
Peers:
Kapston Services Limited
Armour Security India Objectives
1. Working capital funding ₹15.90 crore
2. Capital expenditure for machinery, equipment, and vehicles ₹1.61 crore
3. Partial or full repayment of existing borrowings ₹2.40 crore
4. General corporate purposes
Armour Security IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹27 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹27 Cr |
Armour Security IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | 2,20,000 |
| Retail (Max) | 2 | 4000 | 2,28,000 |
| S-HNI (Min) | 3 | 6000 | 3,30,000 |
| S-HNI (Max) | 8 | 16000 | 9,12,000 |
| B-HNI (Min) | 9 | 18000 | 9,90,000 |
Armour Security IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.00 | 46,000 | 46,000 | 0.262 |
| Non-Institutional Buyers | 1.08 | 21,90,000 | 23,70,000 | 13.509 |
| bNII (bids above ₹10L) | 1.16 | 14,60,000 | 16,96,000 | 9.667 |
| sNII (bids below ₹10L) | 0.92 | 7,30,000 | 6,74,000 | 3.842 |
| Individual Investors (IND category bidding for 2 Lots) | 2.58 | 21,80,000 | 56,24,000 | 32.057 |
| Total** | 1.82 | 44,16,000 | 80,40,000 | 45.828 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 28.85 | 32.93 | 35.66 |
| EBITDA | 3.12 | 3.67 | 4.97 |
| PAT | 2.26 | 2.62 | 3.97 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 15.51 | 23.61 | 27.37 |
| Share Capital | 0.01 | 12.22 | 12.22 |
| Total Liabilities | 15.51 | 23.61 | 27.37 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | 0.45 | 0.54 | 0. 25 |
| Net Cash Generated From / (used in) Investing Activities | - 0.54 | - 2.00 | - 4.01 |
| Net Cash Generated From / (used in) Financing Activities | 0.11 | 2.78 | 2.54 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.40 | 0.42 | 1.73 |
Strengths
1. Wide range of integrated security and manpower services
2. Experienced management with strong industry understanding
3. Trained and deployable workforce across service lines
4. Long-standing and stable client relationships
Weaknesses
1. Operates in a highly fragmented, competitive industry
2. Dependence on a limited number of key clients
3. Constraints in conducting complete background verification
4. Sensitivity to pricing pressure impacting margins
Opportunities
1. Expanding demand for security and facility management services
2. Ability to cross-sell services to existing clients
3. Scope for efficiency gains through technology adoption
4. Potential to introduce new and value-added service offerings
Threats
1. Regulatory and litigation risks increasing compliance costs
2. Competition from established and new players with pricing power
3. Shortage of skilled and quality manpower
4. Business disruption risks from non-compliance issues
1. Integrated service offering enables cross-selling and strong client stickiness
2. Deep engagement with government, PSUs, and regulated institutions ensures steady demand
3. Compliance-led operations with certifications and licenses enhancing credibility
4. Scalable manpower-driven model supported by process discipline and technology adoption
1. Rising outsourcing of security and facility services across public and private sectors
2. Increasing regulatory focus driving demand for compliant, organised service providers
3. Expansion of urban infrastructure boosting need for integrated manpower solutions
4. Technology-led workforce management creating efficiency and margin improvement scope
5. Long-term growth supported by diversified end-user industries and recurring contracts
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FAQs
Armour Security IPO opens from January 14, 2026 to January 19, 2026.
The size of Armour Security IPO is approximately ₹27 crore.
The price band of Armour Security IPO is fixed at ₹55 to ₹57 per share.
To apply for Armour Security IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Armour Security. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is TBA shares, requiring an investment of approximately ₹2,28,000.
The share allotment date of Armour Security IPO is January 20, 2026.
The Armour Security IPO will likely be listed on January 22, 2026.
Sobhagya Capital Options Pvt. Ltd is the book-running lead manager.
1. Allocation of ₹15.90 crore to support day-to-day operational funding
2. Investment of ₹1.61 crore towards upgrading machinery, equipment, and vehicles
3. Utilisation of ₹2.40 crore for repayment or prepayment of outstanding debt
4. Balance funds to be used for general corporate requirements