The Armour Security IPO is a book-built issue with a total size of ₹26.51 crore. The offering consists entirely of a fresh issue of 0.47 crore equity shares, aggregating to ₹26.51 crore, with no offer for sale component.
The IPO will open for subscription on January 14, 2026, and close on January 19, 2026. The basis of allotment is expected to be finalized on January 20, 2026. Shares of Armour Security India Limited are proposed to be listed on the NSE SME platform, with a tentative listing date of January 22, 2026.
The price band for the Armour Security IPO has been fixed at ₹55 to ₹57 per equity share. The minimum application lot size is 2,000 shares. At the upper end of the price band, the minimum investment required for retail investors is ₹2,28,000, corresponding to 4,000 shares. For HNI investors, the minimum application size is three lots (6,000 shares), requiring an investment of ₹3,42,000.
1. IPO Important Dates
| Event | Date |
|---|---|
| IPO Opening Date | January 14, 2026 |
| IPO Closing Date | January 19, 2026 |
| Basis of Allotment | January 20, 2026 |
| Refunds Initiated | January 21, 2026 |
| Shares Credited to Demat | January 21, 2026 |
| Listing Date | January 22, 2026 |
(Note: Listing on NSE SME platform) |
2. Issue Size & Price Band
| Parameter | Details |
|---|---|
| Total Issue Size | ~₹26.51 – ₹27 Crore |
| Fresh Issue | 46,50,000 Shares (100% Fresh) |
| Face Value | ₹10 per share |
| Price Band | ₹55 – ₹57 per share |
| Issue Type | Book Building SME IPO |
| Listing Exchange | NSE SME |
| (Figures from IPO filings and market listings) |
3. Market Lot Size & Investment Requirement
| Investor Category | Lot Size | Shares | Investment @ ₹57 |
|---|---|---|---|
| Retail (Min/Max) | 2 Lots | 4000 | ₹2,28,000 |
| S-HNI (Min) | 3 Lots | 6000 | ₹3,42,000 |
| S-HNI (Max) | 8 Lots | 16000 | ₹9,12,000 |
| B-HNI (Min) | 9 Lots | 18000 | ₹10,26,000 |
| (Application must be in multiples of 2000 shares) |
4. About the Company
Armour Security India Ltd. is a private security and facility services company incorporated in August 1999. It offers a wide range of services nationwide, including:
- Security manpower services
- Integrated facility management
- Housekeeping & allied services
- Manpower provision for corporate, residential & government clients
The company operates across multiple states in India and serves a diversified client base.
5. Key Products & Solutions
Armour Security India provides:
🔹 Security services – Guarding, surveillance, access control
🔹 Facility Management – Housekeeping, maintenance, support services
🔹 Manpower Solutions – Skilled, semi-skilled and unskilled personnel
🔹 Integrated Services – Customized packages for industrial, commercial, and institutional clients
This service portfolio helps clients maintain safety, compliance, and operational efficiency.
6. Financial Performance Snapshot
| Financial Year | Revenue (₹ crore) | Profit (₹ crore) |
|---|---|---|
| FY 2023 | ~₹28.85 | ~₹2.26 |
| FY 2024 | ~₹32.93 | ~₹2.62 |
| FY 2025 | ~₹36.56 | ~₹3.97 |
Highlights:
✔ Revenues have shown consistent growth year-on-year.
✔ Profits have improved along with scale of operations.
✔ Strong service demand from corporate and institutional clients. (IPOupdates.in)
7. IPO Objectives
Armour Security India aims to utilize the net IPO proceeds for:
📌 Working Capital Requirements
📌 Funding Capital Expenditure (machinery, equipment and vehicles)
📌 Pre-payment / Repayment of Outstanding Borrowings
📌 General Corporate Purposes
These objectives are targeted at business expansion and operational strengthening.
8. Allotment & Listing Process
Allotment Timeline
- Allotment Finalization: January 20, 2026
- Refunds Initiated: January 21, 2026
- Shares Credited to Demat: January 21, 2026
- Listing Date: January 22, 2026
Reservation Structure
While specific quotas such as QIB, NII and Retail aren’t always fully broken down for SME issues, the allotment happens as per SEBI rules for SME IPOs via the registrar Skyline Financial Services Pvt Ltd.
9. IPO Review – Strengths & Considerations
Strengths ✔️
✅ Established business with 25+ years of operations
✅ Consistent revenue and profit growth
✅ Diversified service portfolio across security and facility management
✅ Pan-India presence with varied client segments
10. Weaknesses / Risks ⚠️
⚠️ Labour-Intensive Model: Heavy dependence on contractual workforce can lead to wage cost pressures and attrition
⚠️ Service Concentration: A large portion of revenue comes from security and facility services – limited diversification beyond core offerings
⚠️ SME Listing Risks: SME stocks often have lower liquidity and can be volatile post-listing compared to mainboard stocks.
11. Company Address
Armour Security India Ltd.
B-87, Second Floor, Defence Colony
New Delhi – 110024, India
📧 Email: cs@armoursecurities.com
📞 +91 98101 39833
🌐 www.armoursecurities.com (ipoupdates.in)
Disclaimer
The information shared here is intended solely for educational and general awareness purposes. Any securities, investments, or IPO-related details mentioned should not be interpreted as financial advice or investment recommendations. Readers are encouraged to conduct their own independent research or seek guidance from a qualified financial professional before making investment decisions.
IPO-related updates are provided for informational use only. Market trends, past performance, or investor interest do not ensure future outcomes. We are not registered with SEBI. Investments in IPOs and the securities market involve inherent risks, and individuals should carefully evaluate their financial situation or consult a certified financial advisor before investing.
