The Armor Security IPO is a book build issue of ₹26.51 crore. The issue is entirely a fresh issue of 0.47 crore shares worth ₹26.51 crore.
The Armor Security IPO will open for subscription on January 14, 2026, and close on January 19, 2026. Allotment for the Armor Security IPO is expected to be finalized on January 20, 2026. The Armor Security IPO will be listed on NSE SME, with an expected listing date of January 22, 2026.
The price band for the Armor Security IPO has been fixed at ₹55 to ₹57 per share. The lot size for a single application is 2,000. The minimum investment amount required for an individual investor (retail) is ₹2,28,000 (4,000 shares) (based on the upper price). The minimum lot size for HNI investors is 3 lots (6,000 shares), which amounts to ₹3,42,000.
About Armour Security India Ltd.
Incorporated in August 1999, Armour Security India specializes in providing a range of security services including armed guarding, manpower services, and consultancy, primarily focused on commercial and residential security needs across various sectors.
The company is known for its comprehensive security solutions and reputation for reliable service within the Indian market.
The company has PAN India operations with branches in various states to navigate the ever-changing dynamics of the security market.
The company offers its clientele a comprehensive private security solution, encompassing security planning and management services.
The company offers individual security personnel and full teams tailored to sectors like corporate, industrial, banking, healthcare, government, education, and universities.
The company offers integrated facility management, housekeeping, and manpower services, comprising skilled, semi-skilled, and unskilled personnel.
The company's services include the following:-
- Private Security Services: Private security services provide trained security guards based on client requirements.
- Integrated Facility Management Services: Offerings include daily cleaning services, waste disposal, building systems maintenance and security.
- House Keeping Services: Offers office cleaning services, including dusting, surface cleaning, carpet cleaning, and bathroom maintenance.
- Event Management Services: Event Management for weddings, parties, conferences, and product launches.
- Firefighting Services: Firefighting services include training in drills, equipment use, and safety procedures.
- Security Training: Offers training for security officers on critical security issues and policies.
- Supervision Services: Supervision Services tailored to client needs and industry standards.
- Other Manpower Services: Offers skilled, semi-skilled, or unskilled blue-collar manpower for various tasks, including data entry operators, pantry staff, gardeners, drivers, cooks, attendants, plumbers, electricians, and clerks as clients need.
Incorporated in August 1999, Armour Security India provides private security and manpower services, catering to commercial, residential, and institutional clients across India.
Offers PAN-India operations with branches across multiple states, enabling nationwide service delivery.
Provides end-to-end security solutions, including armed guarding, security planning, supervision, and consultancy services.
Serves diverse sectors such as corporate, industrial, banking, healthcare, government, education, and universities.
Expanded offerings include integrated facility management, housekeeping, event security, firefighting services, security training, and skilled/semi-skilled/unskilled manpower supply.
Workforce includes 37 permanent employees and 1,269 contractual employees as of February 28, 2025, highlighting a labour-intensive operating model.
IPO proceeds will be used for working capital (₹15.90 cr), capex for machinery/equipment/vehicles (₹1.61 cr), debt repayment (₹2.40 cr), and general corporate expenses.
Strength
Diversified service portfolio – Security, facility management, housekeeping, and manpower services reduce reliance on a single offering.
Strong industry experience – Long operating history builds credibility and client trust.
Compliance-driven operations – Certifications and regulatory adherence support large institutional and government contracts.
Weakness
Service concentration risk – Majority revenue comes from security manpower and facility management; demand shifts can impact performance.
Customer concentration & government dependence – Significant reliance on a few clients and government contracts increases revenue volatility.
Labour-intensive business risks – Dependence on contractual workforce exposes the company to wage inflation, attrition, and compliance challenges.
Competitive Strength:
- Diversified Services Portfolio
- Expertise and Experience.
- Compliance and Certifications.
- Customer Retention.
- Technology Integration
Armour Security India
January 14, 2026 – January 19, 2026
| GMP Rumors * | ₹1 |
|---|---|
| Price | ₹55 - ₹57 |
| Lot size | 2000 |
| Issue size | ₹26.51 cr |
| Allotment | Jan 20, 2026 |
| Listing | Jan 22, 2026 |
Armour Security India Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 4000 | 228000 | 0 |
| sHNI | 3 | 6000 | 342000 | 0 |
| bHNI | 9 | 18000 | 1026000 | 0 |
Armour Security India Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 0 | 100% |
Armour Security India About
IPO Details
| Total Issue Size | 46,50,000 shares (aggregating up to ₹26.51 Cr) |
| Fresh Issue | 46,50,000 shares (aggregating up to ₹26.51 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,22,20,000 shares |
| Share Holding Post Issue | 1,68,70,000 shares |
| Reserved for Market Maker | 2,34,000 shares (aggregating up to ₹1.33 Cr) |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII Shares Offered | Not less than 15% of the Net Isssue |
Key Performance Indicators (KPI)
Details will be added soon.
Company Financial (In ₹Crore)
Details will be added soon.
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