ArMee Infotech IPO Opens for Subscription
ArMee Infotech IPO opened for subscription on September 23, 2026, and will remain open until September 25. The IPO is entirely a fresh issue of 80 lakh equity shares, raising ₹300 crore at the upper end of the price band. The shares are scheduled to list on both BSE and NSE on September 30.
| Particular | Details |
|---|---|
| IPO Name | ArMee Infotech IPO |
| IPO Dates | Sep 23–25, 2026 |
| Price Band | ₹350–₹375 |
| Issue Size | ₹300 Cr |
| Issue Type | Fresh Issue |
| Shares Offered | 80 Lakh |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Minimum Investment | ₹15,000 |
| Listing | BSE & NSE |
| Allotment | Sep 28, 2026 |
| Refund / Demat | Sep 29, 2026 |
| Listing Date | Sep 30, 2026 |
| Lead Managers | JM Financial, IIFL Capital Services, Saffron Capital Advisors |
| Registrar | Cameo Corporate Services |
ArMee Infotech IPO GMP Today
The latest reported grey-market premium is around ₹12 per share, according to IPOWatch's latest update. At the upper price band of ₹375, this indicates an unofficial estimated price of around ₹387, or a premium of approximately 3.20%. Economic Times, however, described the current grey-market premium as around 3%, broadly consistent with the ₹12 figure.
| GMP Particular | Latest Update |
|---|---|
| GMP | ₹12 |
| Upper Price Band | ₹375 |
| Indicative Price | ₹387 |
| Indicative Premium | ~3.20% |
GMP is an unofficial and unregulated market indicator. It can change quickly during the IPO period and does not guarantee the actual listing price.
ArMee Infotech IPO Subscription Status
The IPO opened today, so subscription activity is still developing. The issue has 20 lakh shares reserved for QIBs, 18 lakh for NIIs and 42 lakh for retail investors.
| Category | Shares Offered |
|---|---|
| QIBs including anchors | 20.00 Lakh |
| NIIs | 18.00 Lakh |
| Retail | 42.00 Lakh |
| Total | 80.00 Lakh |
The latest subscription tracker checked had not yet published meaningful live bidding figures. Subscription numbers can change substantially during the three-day bidding window.
ArMee Infotech Business Overview
ArMee Infotech is an Ahmedabad-based IT infrastructure and services company providing technology solutions to government departments, public-sector organisations, institutions and private enterprises. Its operations cover IT hardware and software supply, installation, systems integration and maintenance.
The company also provides IT managed services, including technical manpower, annual maintenance services and skill-development programmes. In addition, it has expanded into renewable energy through solar EPC projects, power-purchase-agreement-based solar projects and Battery Energy Storage System activities.
ArMee Infotech Revenue Segments
IT infrastructure remains the company's main business segment. In FY2026, this segment contributed nearly 86% of revenue, while IT managed services contributed more than 5% and renewable-energy EPC contributed approximately 9%.
The company provides products such as computers, servers, interactive panels, peripherals and related software. Its project capabilities extend beyond product supply to installation, integration and maintenance.
This combination of product sales and service activities gives ArMee Infotech exposure to both technology procurement and recurring service requirements.
ArMee Infotech IPO Financial Performance
ArMee Infotech reported revenue from operations of approximately ₹1,410.09 crore in FY2026, compared with ₹1,313.31 crore in FY2025. Profit after tax increased to ₹45.47 crore in FY2026 from ₹41.67 crore in FY2025, according to the restated financial information.
| Financial Year | Revenue | EBITDA | PAT |
|---|---|---|---|
| FY2024 | ₹1,020.57 Cr | ₹715.76 Cr* | ₹501.30 Cr* |
| FY2025 | ₹1,313.31 Cr | ₹586.43 Cr* | ₹416.69 Cr* |
| FY2026 | ₹1,410.09 Cr | ₹75.64 Cr | ₹45.47 Cr |
*The FY2024–FY2025 figures in the cited database show unusually high EBITDA/PAT compared with later-period figures and may reflect a change or inconsistency in the presentation of restated financial information. FY2026 figures are the more recent reported numbers.
Moneycontrol separately reported FY2026 revenue of ₹1,396.6 crore and profit of ₹45.5 crore, highlighting the small difference that can arise between financial-data presentations.
ArMee Infotech Financial Highlights
For FY2026, ArMee Infotech reported EBITDA of ₹75.64 crore and PAT of ₹45.47 crore. The reported EBITDA margin was 5.36% and PAT margin was 3.22%. Total debt stood at approximately ₹174.36 crore in the restated financial data.
| Financial Indicator | FY2026 |
|---|---|
| Revenue | ₹1,410.09 Cr |
| EBITDA | ₹75.64 Cr |
| EBITDA Margin | 5.36% |
| PAT | ₹45.47 Cr |
| PAT Margin | 3.22% |
| Net Worth | ₹182.18 Cr |
| Total Debt | ₹174.36 Cr |
| ROE | 24.96% |
| ROCE | 24.10% |
| Debt/Equity | 0.96x |
The financial data indicates continued revenue growth, while profitability and margins remain important factors to monitor as the company expands.
ArMee Infotech IPO Objects of the Issue
The IPO proceeds are primarily intended to support business expansion through performance bank guarantees and to fund working capital. The company also plans to repay or prepay a portion of its outstanding borrowings.
| IPO Objective | Amount |
|---|---|
| Performance Bank Guarantees | ₹155 Cr |
| Working Capital | ₹60 Cr |
| Debt Repayment / Prepayment | ₹6.50 Cr |
| General Corporate Purposes | Balance |
The ₹155 crore allocation for performance bank guarantees is particularly significant because such guarantees can help the company participate in larger contracts and expand its project execution capacity.
ArMee Infotech Business Expansion
The company plans to use the IPO capital to support larger business opportunities, particularly in its IT infrastructure and services operations. Performance bank guarantees are commonly required when bidding for and executing sizeable institutional and government contracts.
ArMee Infotech also operates in renewable energy, where solar EPC and related projects can provide another source of business. Its ability to secure and execute larger contracts will remain an important part of its growth trajectory.
ArMee Infotech IPO Valuation
At the upper price band of ₹375, the company is seeking a valuation of approximately ₹1,190 crore.
The valuation should be considered alongside the company's recent revenue growth, profitability, debt level, business mix and the substantial capital requirements associated with expanding its contract pipeline.
ArMee Infotech IPO Key Risks
ArMee Infotech operates in a competitive IT infrastructure and systems-integration market. Revenue can depend on securing new orders from government, institutional and private-sector customers.
The company also has exposure to working-capital requirements because large technology and infrastructure contracts can involve significant procurement and execution costs before customer payments are received.
Another consideration is debt. The company reported substantial outstanding borrowings, while only ₹6.5 crore of IPO proceeds is earmarked for repayment or prepayment.
The renewable-energy business also brings project execution, regulatory, funding and technology-related risks. In addition, changes in technology can affect demand for existing hardware and service offerings.
ArMee Infotech IPO Important Dates
ArMee Infotech IPO opened on September 23 and will close on September 25, 2026. The basis of allotment is scheduled for September 28, refunds and demat credit are expected on September 29, and listing is scheduled for September 30 on BSE and NSE.
| IPO Event | Date |
|---|---|
| IPO Opening | Sep 23, 2026 |
| IPO Closing | Sep 25, 2026 |
| Allotment | Sep 28, 2026 |
| Refund | Sep 29, 2026 |
| Demat Credit | Sep 29, 2026 |
| Listing | Sep 30, 2026 |
ArMee Infotech IPO Latest News Summary
ArMee Infotech IPO has opened with a price band of ₹350–₹375 and an issue size of ₹300 crore. The entire issue is a fresh issue of 80 lakh shares, with no offer-for-sale component. The company is scheduled to list on BSE and NSE on September 30.
The latest reported GMP is around ₹12, implying an unofficial indicative price of approximately ₹387 at the upper price band. Subscription activity is still developing on the opening day.
ArMee Infotech reported FY2026 revenue of about ₹1,410.09 crore and PAT of ₹45.47 crore. The company plans to use the IPO proceeds mainly for performance bank guarantees, working capital and business expansion.
The key developments to watch during the IPO period are category-wise subscription demand, movement in the unofficial GMP, contract wins and the company's ability to manage working capital and debt while expanding its IT and renewable-energy businesses.
Disclaimer: IPO GMP is an unofficial and unregulated market indicator and can change at any time. Subscription figures may change throughout the bidding period and depend on the reporting time. This article is for informational purposes only and should not be considered investment advice.
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