Armour Security India IPO
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Armour Security India IPO details
Schedule of Armour Security India
| Issue open date | 14 Jan 2026 |
| Issue close date | 19 Jan 2026 |
| UPI mandate deadline | 19 Jan 2026 (5 PM) |
| Allotment finalization | 20 Jan 2026 |
| Refund initiation | 21 Jan 2026 |
| Share credit | 21 Jan 2026 |
| Listing date | 22 Jan 2026 |
| Mandate end date | 03 Feb 2026 |
| Lock-in end date for anchor investors (50%) | 19 Feb 2026 |
| Lock-in end date for anchor investors (remaining) | 20 Apr 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Armour Security India
Armour Security (India) Limited was incorporated in August 1999 and operates in the private security and integrated facility management space. The company was originally incorporated as a private limited entity and was converted into a public limited company in May 2024. It is promoted by Mrs Arnima Gupta and Mr Vinod Gupta, who bring decades of experience in the security services sector. The company provides end-to-end security manpower services and integrated facility management solutions. Its offerings include manned guarding, security planning and management, housekeeping services, and deployment of skilled, semi-skilled, and unskilled manpower. Operations span multiple states across India, serving a diversified client base across sectors. Armour Security follows a contract-based, B2B business model with recurring revenues driven by long-term client relationships. Its strengths lie in over two decades of operating experience, established compliance frameworks, scalable manpower deployment, and integrated service capabilities that enable clients to outsource critical security and facility functions efficiently
Financials of Armour Security India
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Total issue size | 26.51 |
| Fresh Issue – Proceeds go to the company | 26.51 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding of working capital requirements | 15.9 (59.98%) |
| Capital expenditure for machinery, equipment and vehicles | 1.61 (6.07%) |
| Pre-payment / repayment of outstanding borrowings |
3 (11.32%) |
| General corporate purposes | 6 (22.63%) |
Strengths
- Over two decades of experience in security and facility management services.
- Diversified offerings across security, housekeeping, and integrated facility management.
- Promoter-led leadership with deep industry knowledge and execution experience.
- Pan-India presence supported by branch offices across multiple states.
- Strong focus on compliance, training, and technology-enabled service delivery.
Risks
- High dependence on a limited number of clients for a significant share of revenue.
- Manpower-intensive operations with reliance on workforce availability and retention.
- Exposure to complex labour laws and regulatory compliance requirements.
- Highly competitive industry with pressure on pricing and margins.
- No prior public market for the company’s equity shares.
Allotment Status for Armour Security (India)
To check your IPO allotment status:
- Visit the Skyline Financial Services IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.
Subscription Figures for Armour Security (India)
As per media reports (Link), the Grey Market Premium (GMP) of Armour Security (India) is reported at ₹4 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 05:00 PM on January 20, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 0.46 | 0.46 | 1x |
| NII | 21.90 | 23.70 | 1.08x |
| Retail | 21.80 | 56.24 | 2.58x |
| Total | 44.16 | 80.40 | 1.82x |