Armour Security SME IPO
Armour Security IPO — date, price band, GMP & allotment 2026
Armour Security, engaged in providing advanced security solutions and services across India, is launching its IPO to expand operations and enhance technology infrastructure. The company offers integrated security systems for residential, commercial, and industrial clients. With growing demand for surveillance and safety solutions, this IPO aims to strengthen Armour Security’s market presence and fund strategic growth initiatives.
Stock price
Armour Security 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 11 September.
- Open 14 Jan 2026
- Close 19 Jan 2026
- Allotment 20 Jan 2026
- Refund/credit 21 Jan 2026
- Listing 22 Jan 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 14 to 19 Jan, 2026 |
|---|---|
| Price Band | ₹55 to 57 |
| Face Value | ₹₹10 |
| Lot Size | 2000 Shares |
| Issue Size | ₹26.51 Cr. Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE SME |
| Registrar | Skyline Financial Services Private Limited |
| Min Investment | ₹ 2,28,000 |
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 2000 shares at the ₹57 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 4,000 | ₹2,28,000 |
| Retail (max) | 2 | 4,000 | ₹2,28,000 |
| HNI (min) | 3 | 6,000 | ₹3,42,000 |
Three years of numbers
All figures in ₹ crore, as reported in the Armour Security offer document.
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 32.10 | 27.37 | 23.61 | 15.51 |
| Total Income | 19.69 | 36.56 | 33.10 | 28.97 |
| Profit After Tax | 2.90 | 3.97 | 2.62 | 2.26 |
| EBITDA | 4.30 | 4.97 | 3.67 | 3.12 |
| NET Worth | 21.34 | 18.43 | 14.46 | 3.49 |
| Reserves and Surplus | 9.12 | 6.21 | 2.24 | 3.48 |
| Total Borrowing | 6.01 | 4.69 | 1.80 | 0.85 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Armour Security RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Armour Security IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹3.44 |
| P/E Ratio (x) | 16.55 |
| Market Cap at Offer Price (₹ Cr) | ₹48.05 |
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 ₹57 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
₹23.32 Cr of the issue is earmarked to named objects.
About the company
The company offers a range of services including manned guarding, electronic surveillance, and facility management solutions. Its business model is largely service-oriented, generating revenue through long-term contracts and recurring client engagements. Armour Security emphasises customised security solutions based on client requirements, enabling it to build long-term relationships and maintain a steady flow of business across its key operating regions.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91 9810139833
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Sobhagya Capital Options Pvt.Ltd.
4 issues handledBest listing: Accretion Nutraveda (+48.1%). Weakest: UHM Vacation (-20.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Armour Security?
The current Grey Market Premium is ₹0.
What is the Armour Security IPO price band?
₹55 to ₹57, on a face value of ₹₹10.
When is the allotment?
The basis of allotment is 20 January 2026, with listing on 22 January 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Skyline Financial Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard 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.
