Armour Security Ipo
Armour Security IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Corpwis Advisors Pvt.Ltd.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ₹2,28,000 |
| Retail Maximum | 2 | 4,000 | ₹2,28,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,42,000 |
| S-HNI Maximum | 8 | 16,000 | ₹9,12,000 |
| B-HNI Minimum | 9 | 18,000 | ₹10,26,000 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | 46,000 Shares | 0.99% |
| NII Shares Offered | 21,90,000 Shares | 47.10% |
| Retail Shares Offered | 21,80,000 Shares | 46.88% |
| IPO Open Date: | January 14, 2026 |
| IPO Close Date: | January 19, 2026 |
| Basis of Allotment: | January 20, 2026 |
| Refunds: | January 21, 2026 |
| Credit to Demat Account: | January 21, 2026 |
| IPO Listing Date: | January 22, 2026 |
| IPO Bidding Cut-off Time: | January 19, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,22,20,000 | 96.80% |
| Promoter Holding Post Issue | 1,68,70,000 | -% |
| Purpose | Crores |
| Funding of Working Capital requirement | ₹15.90 |
| Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles | ₹1.61 |
| Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company | ₹2.40 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹28.97 | ₹25.96 | ₹2.26 | ₹15.51 |
| 2024 | ₹33.10 | ₹29.60 | ₹2.62 | ₹23.61 |
| 2025 | ₹36.56 | ₹31.25 | ₹3.97 | ₹27.37 |
| Sep 2025 | ₹19.69 | ₹15.81 | ₹2.90 | ₹32.10 |
| KPI | Values |
| ROE: | 21.56% |
| ROCE: | 24.47% |
| EBITDA Margin: | 13.94% |
| PAT Margin: | 11.14% |
| Debt to equity ratio: | 0.25 |
| Earning Per Share (EPS): | ₹3.25 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 21.56% |
| Net Asset Value (NAV): | ₹15.08 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Kapston Services Limited | 8.79 | 34.12 | 20.07% | 43.81 | 688.70 Cr. |
| Cookie | Duration | Description |
|---|---|---|
| cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
| cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
| cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
| cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
| cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
| viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
| IPO Open Date | January 14, 2026 |
| IPO Close Date | January 19, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹55 to ₹57 Per Share |
| Issue Size | Approx ₹27 Crores |
| Fresh Issue | Approx ₹27 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |