Armour Security IPO will open for subscription on January 14, 2026 and will close on January 19, 2026. The IPO is a book build issue through which the company plans to raise approximately ₹27 crores. The issue consists entirely of a fresh issue of ₹27 crores along with an offer for sale of up to equity shares with a face value of ₹10 each.
The price band for the Armour Security IPO is fixed at ₹55 to ₹57 per share. The IPO will be listed on the NSE SME platform on January 22, 2026. The basis of allotment is expected to be finalised on January 20, 2026.
Contents
Armour Security IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | January 14, 2026 |
| IPO Close Date | January 19, 2026 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹55 to ₹57 per share |
| Issue Size | Approx ₹27 crores |
| Fresh Issue | Approx ₹27 crores |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
Armour Security IPO
Open: 14-19 Jan
Issue Size: ₹27 Cr.
Objective: Finance working capital, buy machinery/vehicles, and reduce debt.
Exchange: NSE SME
Armour Security IPO Review
Armour Security operates in the private security and facility management segment, offering manpower-based security solutions across multiple locations. The company has demonstrated consistent revenue growth over the last three financial years, along with stable profitability.
Margins have remained steady, supported by operational efficiency and controlled debt levels. Given the company’s improving financial performance, low debt profile, and steady demand for organised security services, the IPO appears more suitable for investors looking at long-term participation in the SME segment rather than short-term listing gains.
Track GMP: Armour Security IPO GMP Today
Armour Security IPO Market Lot Size
The minimum market lot for Armour Security IPO is 4,000 equity shares, requiring an application amount of ₹2,28,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4,000 | ₹2,28,000 |
| Retail 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 |
Armour Security IPO Reservation
| Investor Category | Shares Offered | % Allocation |
|---|---|---|
| Anchor Investors | – | – |
| QIB (Ex-Anchor) | – | 50% |
| NII | – | 15% |
| Retail | – | 35% |
Armour Security IPO Anchor Investors
| Particulars | Details |
|---|---|
| Anchor Bidding Date | January 2026 |
| Anchor Investors List | View PDF |
| Shares Offered | |
| Anchor Size | Cr. |
| Lock-in End Date (50% – 30 Days) | 2026 |
| Lock-in End Date (50% – 90 Days) | 2026 |
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Armour Security IPO Important Dates
| Event | Date |
|---|---|
| IPO Open Date | January 14, 2026 |
| IPO Close Date | January 19, 2026 |
| Basis of Allotment | January 20, 2026 |
| Refunds Initiation | January 21, 2026 |
| Credit to Demat Account | January 21, 2026 |
| IPO Listing Date | January 22, 2026 |
| Bidding Cut-off Time | January 19, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of Armour Security India Limited are Mr. Vinod Gupta and Mrs. Arnima Gupta.
| Particulars | Shares | % Holding |
|---|---|---|
| Promoter Holding Pre-Issue | 1,22,20,000 | 96.80% |
| Promoter Holding Post-Issue | 1,68,70,000 |
Objects of the Issue
The company proposes to utilise the net proceeds from the IPO primarily to meet its working capital requirements. A portion of the funds will be used for capital expenditure towards the purchase of machinery, equipment, and vehicles.
The company also plans to use part of the proceeds for prepayment or repayment of certain outstanding borrowings, along with general corporate purposes to support business operations.
About Armour Security India Limited
Armour Security India Limited is engaged in providing security manpower and facility support services to commercial, residential, industrial, and institutional clients across India. The company offers trained security guards and supervisory staff, focusing on disciplined operations and compliance with statutory requirements.
Its business is supported by long-term client contracts, which provide revenue stability. With rising demand for organised security services, the company aims to strengthen operations and expand its service footprint.
Armour Security IPO Financials
Amount in ₹ Crores
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2022 | 26.91 | 26.52 | 0.29 | 11.95 |
| 2023 | 28.97 | 25.96 | 2.26 | 15.51 |
| 2024 | 33.10 | 29.60 | 2.62 | 23.61 |
| Sep 2024 | 17.32 | 13.99 | 2.49 | 23.78 |
Armour Security IPO Valuation – FY2024
| KPI | Value |
|---|---|
| ROE | 18.10% |
| ROCE | 22.26% |
| EBITDA Margin | 11.08% |
| PAT Margin | 7.82% |
| Debt to Equity | 0.12 |
| EPS | ₹2.14 |
| P/E Ratio | N/A |
| RoNW | 18.10% |
| NAV | ₹11.83 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Rithwik Facility Management Services Ltd | 8.63 | 17.62 | 12.78% | 67.54 | Cr. |
IPO Lead Manager
- Corpwis Advisors Private Limited
Company Address
| Particulars | Details |
|---|---|
| Company Name | Armour Security India Limited |
| Address | B-87, Second Floor |
| Area | Defence Colony |
| City | New Delhi |
| State | New Delhi |
| PIN Code | 110024 |
| Phone | +91 9810139833 |
| cs@armoursecurities.com | |
| Website | https://www.armoursecurities.com/ |
IPO Registrar
Skyline Financial Services Private Limited
Phone: 022-28511022
Email: grievances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Armour Security IPO FAQs
What is Armour Security IPO?
Armour Security IPO is an SME IPO through which the company plans to raise ₹27 crores. The issue is priced at ₹55 to ₹57 per share and will be listed on the NSE SME platform.
When will Armour Security IPO open for subscription?
The IPO will open on January 14, 2026 and close on January 19, 2026.
What is the investor allocation in Armour Security IPO?
The allocation is 50% for QIBs, 15% for NIIs, and 35% for retail investors.
How can investors apply for Armour Security IPO?
Investors can apply through ASBA using their bank account, via UPI through stockbrokers, or by submitting an offline application through registered brokers.
What is the issue size of Armour Security IPO?
The total issue size of the IPO is ₹27 crores.
What is the lot size for Armour Security IPO?
The minimum application is for 4,000 equity shares, amounting to ₹2,28,000.
When is the allotment date for Armour Security IPO?
The basis of allotment is expected to be finalised on January 20, 2026.
When will Armour Security IPO be listed?
The IPO is scheduled to list on January 22, 2026 on the NSE SME platform.
Expert Comment
Armour Security presents a steady SME offering backed by consistent revenue growth, improving profitability, and a low debt structure.
While the business operates in a manpower-intensive segment, predictable cash flows and rising demand for organised security services support its long-term outlook. Investors with a medium-to-long-term perspective and comfort with SME risks may consider this IPO.
