Listed
SME IPO
ARMOURSECURITY
Armour Security
Armour Security IPO ke live GMP, listing timeline, price band, subscription momentum aur key issue details yahan track karein.
IPO Details
Complete IPO information
| Current GMP |
₹-11.4 |
| Estimated Listing Gain |
-20.00% |
| Price Band |
₹55.00 - ₹57.00 |
| Issue Price |
₹57.00 |
| Listing Price |
₹45.60 |
| Lot Size |
2,000 Shares |
| Issue Type |
SME |
| Issue Size |
TBA |
| Registrar |
TBA |
| Exchange |
NSE, BSE |
| Retail Quota |
TBA |
| Overall Subscription |
TBA |
| Listing Date |
22 Jan 2026 |
| Minimum Investment |
₹2,28,000 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
14 Jan 2026
02
Bidding Closes
19 Jan 2026
Grey Market Premium
Daily GMP status
| Date |
GMP |
Change |
Gain |
| 21 Jan 2026 |
₹0.00 |
-₹4.00
|
0.00% |
| 19 Jan 2026 |
₹4.00 |
-
|
7.02% |
| 16 Jan 2026 |
₹4.00 |
+₹2.00
|
7.02% |
| 13 Jan 2026 |
₹2.00 |
+₹1.00
|
3.51% |
| 12 Jan 2026 |
₹1.00 |
-
|
1.75% |
Market Lot
Application size breakdown
| Category |
Lots |
Shares |
Amount |
| Retail Minimum |
2 Lot |
4,000 |
₹2,28,000 |
| Retail Maximum |
2 Lot |
4,000 |
₹2,28,000 |
| S-HNI Minimum |
3 Lot |
6,000 |
₹3,42,000 |
| S-HNI Maximum |
8 Lot |
16,000 |
₹9,12,000 |
| B-HNI Minimum |
9 Lot |
18,000 |
₹10,26,000 |
Analysis
Armour Security IPO 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 |
Analysis
Armour Security IPO Market Lot
| 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 |
68 |
8,16,000 |
₹9,12,000 |
| B-HNI Minimum |
77 |
9,18,000 |
₹10,26,000 |
Analysis
Armour Security IPO Reservation
| Investor Category |
Shares Offered |
Percentage (%) |
| Anchor Investor |
– |
– |
| QIB (Ex. Anchor) |
46,000 Shares |
0.99% |
| NII |
21,90,000 Shares |
47.10% |
| Retail |
21,80,000 Shares |
46.88% |
Analysis
Armour Security IPO Dates
| IPO Open Date |
January 14, 2026 |
| IPO Close Date |
January 19, 2026 |
| Basis of Allotment |
January 20, 2026 |
| Refunds |
January 21, 2026 |
| Credit to Demat Account |
January 21, 2026 |
| IPO Listing Date |
January 22, 2026 |
| IPO Bidding Cut-off Time |
January 19, 2026 – 5 PM |
Analysis
Armour Security IPO – Promoters & Holding Pattern
Promoters: Mr. Vinod Gupta and Mrs. Arnima Gupta
| Particulars |
Shares |
Shareholding (%) |
| Promoter Holding (Pre Issue) |
1,22,20,000 |
96.80% |
| Promoter Holding (Post Issue) |
1,68,70,000 |
– |
Analysis
Armour Security IPO – Objects of the Issue & Utilisation of Proceeds
| Purpose |
Amount (₹ Cr) |
| Funding of Working Capital requirement |
15.90 |
| Funding capital expenditure for purchase of machinery, equipment and vehicles |
1.61 |
| Pre‑payment / re‑payment (in part or full) of certain outstanding borrowings |
2.40 |
| General Corporate Purpose |
– |
Analysis
About Armour Security IPO
Armour Security India, founded in August 1999, has been engaged in offering a wide range of security services such as armed guards, manpower support, and consultancy for commercial and residential clients across different sectors. Armour Security India has built a reputation for providing complete security solutions and reliable services in India.
The company offers Private Security Services, Integrated Facility Management Services, Housekeeping Services, Event Management Services, Firefighting Services, Security Training, Supervision Services, and Other Manpower Services. From security planning to management services, the company provides complete private security solutions serving sectors like corporate, industrial, banking, healthcare, government, education, and universities.
Analysis
Armour Security IPO – Company Financial Report
| Period Ended |
Revenue (₹ Cr) |
Expense (₹ Cr) |
PAT (₹ Cr) |
Assets (₹ Cr) |
| 2023 |
28.97 |
25.96 |
2.26 |
15.51 |
| 2024 |
33.10 |
29.60 |
2.62 |
23.61 |
| 2025 |
36.56 |
31.25 |
3.97 |
27.37 |
| September 2025 |
19.69 |
15.81 |
2.90 |
32.10 |
Analysis
Armour Security IPO Valuation – FY2025
| KPI |
Values |
| ROE |
21.56% |
| ROCE |
24.47% |
| EBITDA Margin |
13.94% |
| PAT Margin |
11.14% |
| Debt to Equity Ratio |
0.25 |
| Earning Per Share (EPS) |
₹3.25 (Basic) |
| Price / Earnings (P/E) Ratio |
N/A |
| Return on Net Worth (RoNW) |
21.56% |
| Net Asset Value (NAV) |
₹15.08 |
Analysis
Armour Security IPO – Peer Group Comparison
| Company |
EPS |
P/E Ratio |
RoNW (%) |
NAV |
Income |
| Kapston Services Limited |
8.79 |
34.12 |
20.07% |
43.81 |
₹688.70 Cr. |
