Armour Security India Ltd.
ARMOURSME
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Overview
Armour Security (India) Limited, established in 1999, provides comprehensive security and facility management solutions across India. The company's services include private security, housekeeping, integrated facility management, and manpower staffing for skilled, semi-skilled, and unskilled roles. Serving a diverse clientele of government departments, public sector undertakings, and private enterprises, Armour Security has expanded its operations from a single office in Delhi to multiple states, focusing on customized service delivery, regulatory compliance, and quality assurance.
Opening Date
Jan 14, 2026
Closing Date
Jan 19, 2026
Listing Date
Jan 22, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
27 Cr
Fresh Issue
26.51 Cr
Offer for Sale
0 Cr
Price Band
₹55 - ₹57
Lot Size
2000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the Fresh Issue are to utilize the net proceeds for the following purposes:
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Funding of working capital requirements amounting to ₹15.11 crores to support expanded operations, participate in larger government tenders by meeting Earnest Money Deposit (EMD) requirements, and bridge the timing gap between employee payroll and client payment cycles.
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Funding capital expenditure of ₹1.61 crores for purchasing new machinery, equipment, and vehicles to support the company's entry into the event-based security services segment, including acquiring baggage inspection systems, metal detectors, and vehicles for the Quick Response Team.
- •
Pre-payment or re-payment of certain outstanding borrowings, in part or full, with an allocation of ₹3.00 crores to reduce outstanding debt, lower debt servicing costs, and improve the company's debt-to-equity ratio.
- •
Financing general corporate purposes to support business growth and operational needs, with the amount not to exceed 15% of the gross issue proceeds.
Key Performance Indicator
P/E Ratio
17.53
EPS
3.25
ROE
13.61%
ROCE
15.45%
RONW
13.61%
Debt to Equity Ratio
—
PAT Margin
14.76%
EBITDA Margin
21.84%
P/B
3.78
SWOT Analysis
Strengths
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Diverse Service Portfolio
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Experienced Management with Industry Expertise
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Trained Workforce
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Strong Customer Relationship
Weaknesses
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Highly Fragmented and Competitive Market
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Dependency on Key Clients
Opportunities
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Overall Market Growth and Expansion
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Cross-Promotion Opportunities
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Cost and Business Process Optimisation with Technological Advancements
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New service Offerings
Threats
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Regulatory Compliance and Litigation Risk can cause business disruptions and increase in Compliance costs.
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Competitive Risks from established players and New Entrants with Better Pricing Power
- •
Quality Manpower Shortages Risks
Subscription Rate
Frequently Asked Questions about Armour Security India Ltd.
Armour Security (India) Limited, established in 1999, provides comprehensive security and facility management solutions across India. The company's services include private security, housekeeping, integrated facility management, and manpower staffing for skilled, semi-skilled, and unskilled roles. Serving a diverse clientele of government departments, public sector undertakings, and private enterprises, Armour Security has expanded its operations from a single office in Delhi to multiple states, focusing on customized service delivery, regulatory compliance, and quality assurance.
The Armour Security India Ltd. IPO is scheduled to open for subscription on Jan 14, 2026 and close on Jan 19, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Armour Security India Ltd. IPO is ₹55 to ₹57. Investors can place bids within this range once the issue opens.
The minimum lot size for the Armour Security India Ltd. IPO is 2000 shares. The minimum investment amount ₹1,14,000.
The total issue size of the Armour Security India Ltd. IPO is approximately ₹27.00. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Armour Security India Ltd. IPO has been subscribed 0.5 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Armour Security India Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Armour Security India Ltd. are expected to list on stock exchanges on Jan 22, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Armour Security India Ltd. IPO are proposed to be used for The main objectives of the Fresh Issue are to utilize the net proceeds for the following purposes:, Funding of working capital requirements amounting to ₹15.11 crores to support expanded operations, participate in larger government tenders by meeting Earnest Money Deposit (EMD) requirements, and bridge the timing gap between employee payroll and client payment cycles., Funding capital expenditure of ₹1.61 crores for purchasing new machinery, equipment, and vehicles to support the company's entry into the event-based security services segment, including acquiring baggage inspection systems, metal detectors, and vehicles for the Quick Response Team., Pre-payment or re-payment of certain outstanding borrowings, in part or full, with an allocation of ₹3.00 crores to reduce outstanding debt, lower debt servicing costs, and improve the company's debt-to-equity ratio., Financing general corporate purposes to support business growth and operational needs, with the amount not to exceed 15% of the gross issue proceeds.
Before applying for the Armour Security India Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
