Armour Security IPO Details
The key details of Armour Security’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹26.51 Cr |
| Price Range | ₹55 - ₹57 |
| Retail Quota | 50% |
| QIB Quota | -- |
| NII Quota | 50% |
| Employee Discount | -- |
| Listing at | NSE |
| Minimum Quantity | 4,000 |
| Investment (cut-off price) | ₹2,28,000 |
| Pre IPO Promotor Holding | 96.80% |
| Post IPO Promotor Holding | Update soon |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Armour Security IPO Timelines
The IPO process for Armour Security includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
14/01/2026
Start Date19/01/2026
End Date21/01/2026
Refund Initiation21/01/2026
Credit of Shares to Demat Ac22/01/2026
Listing DateArmour Security IPO Lot Size
The Armour Security IPO has a fixed lot size of 2,000 shares, at an upper price band of ₹57 per share. For retail investors, the minimum and maximum application is 4,000 shares (2 lots) amounting to ₹2,28,000. For Small HNI (S-HNI) investors, the minimum application is 6,000 shares (3 lots) worth ₹3,42,000, while the maximum is 16,000 shares (8 lots) amounting to ₹9,12,000. Big HNI (B-HNI) investors need to apply for at least 18,000 shares (9 lots), totaling ₹10,26,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4000 | ₹2,28,000 |
| Retail Maximum | 2 | 4000 | ₹2,28,000 |
| S-HNI Minimum | 3 | 6000 | ₹3,42,000 |
| S-HNI Maximum | 8 | 16000 | ₹9,12,000 |
| B-HNI Minimum | 9 | 18000 | ₹10,26,000 |
Armour Security IPO Subscription Status
The subscription status for Armour Security IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 1.00x | 1.08x | 2.58x | -- | 1.82x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Armour Security IPO Company Financials
Armour Security reports robust performance in FY2025 with Total Income of ₹36.56 crores, managing expenses at ₹31.25 crores, and achieving a strong PAT (Profit After Tax) of ₹3.97 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹28.97 | ₹25.96 | ₹2.26 |
| FY 2024 | ₹33.10 | ₹29.60 | ₹2.62 |
| FY 2025 | ₹36.56 | ₹31.25 | ₹3.97 |
| FY 2026 | ₹19.69 | ₹15.81 | ₹2.90 |
About Company
Armour Security India, incorporated in August 1999, specializes in delivering comprehensive security and manpower solutions across India. The company provides armed and unarmed guarding, security consultancy, and security planning and management services, catering to commercial and residential clients across multiple sectors. With PAN India operations supported by branches in various states, the company is positioned to address the evolving requirements of the Indian security market and has established a reputation for reliability and service quality.
The company offers a wide range of services including private security, integrated facility management, housekeeping, event management, firefighting, supervision, and security training. Its manpower solutions cover skilled, semi skilled, and unskilled personnel for industries such as corporate, industrial, banking, healthcare, government, and education. As of February 28th, 2025, Armour Security India employed 37 permanent staff members and engaged 1269 contractual personnel, enabling it to deliver scalable and customized service solutions to its clientele.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 1999 | Human Resources | Arnima Gupta |
Know Before Investing
Armour Security IPO Strengths
- Armour Security India delivers comprehensive manned guarding, electronic surveillance, and facility management services across residential, commercial, industrial, and institutional clients, offering one-stop solutions.
- Operates with low capital requirements by leveraging trained personnel rather than heavy equipment, enabling scalability and high EBITDA margins typical of service businesses.
- Serves residential societies, corporate offices, factories, hospitals, and malls across multiple geographies, reducing single-client or sector dependency.
- Experienced leadership with focus on training, compliance, and technology integration (CCTV, access control) supports service quality and client retention.
- Long-term contracts with residential/commercial clients provide revenue visibility and customer stickiness in essential security services.
Armour Security IPO Risks
- Heavy reliance on security guards exposes margins to wage inflation, attrition, and compliance with labour laws including minimum wages and PF obligations.
- Dependence on key contracts for significant revenue creates risk if major clients terminate, renegotiate, or consolidate with competitors.
- Fragmented security services market with numerous regional players pressures margins through competitive bidding, especially for institutional contracts.
- Stricter PSARA licensing, private security regulations, and labour compliance requirements increase operational complexity and potential penalties.
- Ensuring trained, reliable guards consistently across locations remains critical; skill gaps or high turnover can impact service quality and client satisfaction.
- Corporate and industrial clients sensitive to economic slowdowns may reduce security spend during downturns, affecting order renewals.
Swot Analysis for Armour Security IPO
Strengths
Comprehensive Security Solutions, Large Trained Workforce, ERP Technology Integration
Weaknesses
Labour-Intensive Cost Structure, Customer Concentration Risk, Working Capital Pressure
Opportunities
Corporate Security Demand, Government Contracts Expansion, Tier-2 City Penetration
Threats
Intense Price Competition, Client Tender Volatility, Economic Sensitivity
Company Details
Armour Security India Ltd.
B-87, Second Floor Defence Colony New Delhi, New Delhi, 110024
Phone: +91 9810139833
Email: cs@armoursecurities.com
Website: https://www.armoursecurities.com/
IPO Registar Details
Skyline Financial Services Pvt. Ltd.
Phone: 02228511022
Email: grievances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
FAQs
The key objectives of Armour Security SME IPO are:
- Funding of Working Capital requirement
- Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles
- Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company
- General Corporate Expenses.
Sobhagya Capital Options Pvt. Ltd. is the book-running lead managers for the Armour Security IPO.
Armour Security’s growth potential is driven by India’s rapidly expanding private security market growing at 15% – 20% annually. Rising urbanization, corporate formalization, repeat institutional contracts, and scalable manpower deployment across multiple states support steady expansion as organized security services gain preference.
The issue price for the Armour Security IPO is set between ₹55 to ₹57 per share.
To invest in two lot of Armour Security IPO, you need ₹2,20,000 at the lower price band (₹55 per share) or ₹2,28,000 at the upper price band (₹57 per share) for a lot size of 4,000 shares.
Armour Security IPO shares are scheduled to be listed on the National Stock Exchange (NSE) on January 22, 2025.
Refund/unblocking of funds for Armour Security IPO will begin on January 21, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Armour Security IPO shares on listing day (January 22, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.