ArMee Infotech IPO
ArMee Infotech IPO — date, price band, lot size & details 2026
ArMee Infotech listed on 30 Sep 2026 at ₹375, flat to the ₹375 issue price.
ArMee Infotech Limited is an Ahmedabad-based IT infrastructure and managed services company serving government, corporate, BFSI and education customers, and has diversified into retail Experience Zones and renewable energy. As on 30 June 2026 it had 99 ongoing projects across IT, solar EPC, PPA and battery storage work.
Stock price
ArMee Infotech is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 13 October.
- Open 23 Sep 2026
- Close 25 Sep 2026
- Allotment 28 Sep 2026
- Refund/credit 29 Sep 2026
- Listing 30 Sep 2026
Latest news
Our news coverage of ArMee Infotech, newest first.
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Sep, 2026 |
|---|---|
| Price Band | ₹350 – ₹375 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹300 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Cameo Corporate Services Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹375 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹15,000 |
| Retail (max) | 13 | 520 | ₹1,95,000 |
| S-HNI (min) | 14 | 560 | ₹2,10,000 |
| S-HNI (max) | 66 | 2,640 | ₹9,90,000 |
| B-HNI (min) | 67 | 2,680 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 8
- 01Sales have grown well, from Rs 1,023.99 crore in FY2024 to Rs 1,315.78 crore in FY2025 and Rs 1,410.09 crore in FY2026.
- 02EBITDA improved from Rs 58.64 crore in FY2025 to Rs 75.64 crore in FY2026.
- 03Return ratios are healthy, with RoNW of 24.96% and RoCE of 24.10%.
- 04Net worth has nearly doubled in two years, from Rs 95.18 crore in FY2024 to Rs 182.18 crore in FY2026.
- 05The order pipeline is substantial at 99 ongoing projects as on 30 June 2026.
- 06It has moved beyond core IT into renewable energy, covering solar EPC, power purchase agreements and battery storage, which are growing areas.
- 07Long standing work with government and PSU customers is hard for a newcomer to displace, since these buyers favour vendors with a track record.
- 08It has a record of more than 20 years, having been founded in 2003.
Risks · 8
- 01The price band, issue size and lot size have not been announced yet, so the valuation cannot be judged at this stage and no P/E is available.
- 02Profit has not really grown. It was Rs 50.13 crore in FY2024, fell to Rs 41.67 crore in FY2025 and recovered only to Rs 45.47 crore in FY2026, still below where it was two years ago.
- 03Borrowing has exploded, from Rs 27.26 crore in FY2024 to Rs 48.10 crore in FY2025 and Rs 174.36 crore in FY2026, which is more than six times in two years.
- 04The profit margin is thin at 3.26%. On income of Rs 1,410.09 crore the company kept Rs 45.47 crore.
- 05The business is heavily concentrated in one state. Of its 99 ongoing projects, 74 are in Gujarat.
- 06Rs 155 crore of the issue money is earmarked for winning new government and PSU projects. Such work is tender driven, priced competitively and paid slowly.
- 07Renewable energy EPC and battery storage are new lines for an IT company, and they need different skills and carry different execution risk.
- 08The post issue promoter holding is not stated in the data available to us, so the extent of dilution is not clear.
Three years of numbers
All figures in ₹ crore, as reported in the ArMee Infotech offer document.
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 958.87 | 828.54 | 673.50 |
| Total Income | 1,410.09 | 1,315.78 | 1,023.99 |
| Profit After Tax | 45.47 | 41.67 | 50.13 |
| EBITDA | 75.64 | 58.64 | 71.58 |
| NET Worth | 182.18 | 136.67 | 95.18 |
| Total Borrowing | 174.36 | 48.10 | 27.26 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the ArMee Infotech RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
ArMee Infotech IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹19.16 | ₹14.33 |
| P/E Ratio (x) | 19.57 | 26.17 |
| Market Cap at Offer Price (₹ Cr) | ₹889.94 | ₹1,189.93 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹375 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹221.50 Cr of the issue is earmarked to named objects.
ArMee Infotech IPO Anchor Investors
4 anchor investors across 4 fund houses committed ₹39.94 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Abundantia Capital Vcc-Abundantia Capital Iii | Abundantia | 531,720 | 19.94 | 49.93% |
| Vikasa India Eif I Fund-Incube Global Opportunities | Vikasa | 266,560 | 10.00 | 25.03% |
| Amitsg Ventures Fund | Amitsg Ventures | 133,360 | 5.00 | 12.52% |
| Vbcube Ventures Fund Ii | Vbcube | 133,360 | 5.00 | 12.52% |
| Total anchor allocation | 39.94 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its work covers four areas. IT infrastructure means supplying IT hardware and software along with installation, integration, maintenance and support. IT managed services covers providing technical manpower, skill development and training, and annual maintenance contracts. Retail sales is a newer line, where it runs Experience Zones selling IT products, consumer electronics and gaming merchandise. Renewable energy is the other new line, covering solar engineering, procurement and construction work, developing solar projects under power purchase agreements, and battery energy storage system projects.
As on 30 June 2026 it had 99 ongoing projects. Of these, 65 were IT infrastructure, 21 were IT managed services, 10 were renewable energy EPC, 1 was a renewable energy power purchase agreement and 2 were battery storage projects. Of the 99 projects, 74 were in Gujarat and 11 in Maharashtra.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
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The bankers & the filings
Who is running the book, and the documents this page is built from.
Company contact
Frequently asked
What is the GMP of ArMee Infotech?
The current Grey Market Premium is ₹6, or 1.60% over the issue price.
What is the ArMee Infotech IPO price band?
₹350 to ₹375, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 September 2026, with listing on 30 September 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Cameo Corporate Services Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
