SME
IPO ·
NSE SME
Armour Security India Ltd
Listed
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
Issue details
Price band
₹55 – ₹57
Face value
₹10
Lot size
2,000 shares
Minimum investment
₹2,28,000
Issue size
₹26.51 Cr
Fresh issue
₹25.17 Cr
Offer for sale
—
Issue type
Book Built
Exchange
NSE SME
Key dates
Opens
14 Jan 2026
Closes
19 Jan 2026
UPI mandate cut-off
5:00 PM on 19 Jan 2026
Allotment
20 Jan 2026
Refunds
21 Jan 2026
Shares in demat
21 Jan 2026
Listing
22 Jan 2026
Subscription and listing
Subscription
1.45x
Listing price
₹45.60
Registrar
Skyline Financial Services Pvt Ltd
Lead manager
Sobhagya Capital Options
Subscription by category
Total
1.45x
Total applications
1,466
Listing day
Issue price
₹57
Open
₹45.60
High
₹45.60
Low
₹43.35
Day close
₹43.35
Listing gain at open
-20.00%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
46,000
0.99%
NII 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%
Market Maker Shares Offered
2,34,000
5.03%
Total Shares Offered
46,50,000
100.00%
Finaccle’s quick read
Neutral
FY25 income up 10%, PAT up 52%, ROE 13.61%, D/E 0.28, post-issue P/E 16.55x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
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.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
13.61%
ROCE
15.45%
Debt / equity
0.28
PAT margin
14.76%
P/E post issue
16.55
Market cap
₹96.16 Cr
Use of IPO money
Funding of Working Capital Requirement
₹15.11 Cr
Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles
₹1.61 Cr
Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company
₹3.00 Cr
General Corporate Expenses
₹3.60 Cr
Issue Expenses
₹3.18 Cr
Strengths
✓
PAT up 52% in FY25 to ₹3.97 Cr
✓
PAT margin of 14.76%
✓
Moderate leverage: debt to equity 0.28
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.