ArMee Infotech Limited (AIL) is an IT infrastructure and managed services company providing technology solutions to Government, PSU and private-sector clients. The company has also diversified into Renewable Energy and retail through Experience Zones.
Services:
- IT Infrastructure: IT hardware, software, installation, integration, maintenance, ICT labs and smart classes.
- IT Managed Services: Technical manpower, training, maintenance and turnkey IT solutions.
- Renewable Energy: Solar EPC, solar PPA and BESS projects.
- Experience Zones: Retail centres offering IT products, consumer electronics and gaming products.
As of June 30, 2026, the company had 99 ongoing projects, comprising 65 IT Infrastructure projects, 21 IT Managed Services projects, 10 Renewable Energy EPC projects, 1 Renewable Energy PPA project and 2 Renewable Energy BESS projects. The consolidated order book stood at approximately ₹3,287.37 crore.
Geographically, 74 projects were located in Gujarat and 11 in Maharashtra, while the remaining projects were spread across Bihar, Andhra Pradesh, Uttar Pradesh, Madhya Pradesh, Rajasthan, Telangana, Tamil Nadu, Uttarakhand and New Delhi.
As of June 30, 2026, AIL had 263 employees, including 219 skilled and semi-skilled technical personnel, along with 1,648 contractual employees engaged through third-party service providers.
ArMee Infotech IPO – Details
| IPO Opening Date | 23 September 2026 |
| IPO Closing Date | 25 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 80,00,000 Shares Worth ₹300.00 Crore Fresh Issue: 80,00,000 Shares Worth ₹300.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹350 – ₹375 per share |
| Market Lot | 40 Shares |
| Min Order | 40 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Cameo Corporate Services Ltd. |
| QIB Shares Offered | 25% |
| NII (HNI) Shares Offered | 22.50% |
| Retail Shares Offered | 52.50% |
ArMee Infotech IPO – Date Schedule
| IPO Open Date | 23 September 2026 |
| IPO Close Date | 25 September 2026 |
| Basis of Allotment | 28 September 2026 |
| Initiation of Refund | 29 September 2026 |
| Credit of Shares to Demat Account | 29 September 2026 |
| IPO Listing Date | 30 September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2026 |
ArMee Infotech IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹15,000 |
| Retail (Max) | 13 | 520 | ₹1,95,000 |
| S-HNI (Min) | 14 | 560 | ₹2,10,000 |
| S-HNI (Max) | 66 | 2640 | ₹9,90,000 |
| B-HNI (Min) | 67 | 2680 | ₹10,05,000 |
Competitive Strength
- Proven track record in executing projects for Government / PSU clients.
- Consistent track record of financial performance.
- Ability to service clients and projects across diverse sectors.
- Experienced Board of Directors and management with extensive domain knowledge.
Company Promoters
- Ami Ridhish Patel
- Kiritkumar Chimanbhai Patel
- Ridhish Kiritbhai Patel
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹1,023.99 Cr | ₹960.21 Cr | ₹50.13 Cr | ₹27.26 Cr |
| 31 March 2025 | ₹1,315.78 Cr | ₹1,262.59 Cr | ₹41.67 Cr | ₹48.10 Cr |
| 31 March 2026 | ₹1,410.09 Cr | ₹1,349.10 Cr | ₹45.47 Cr | ₹174.36 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 28.52% |
| ROCE | 24.10% |
| Debt/Equity | 0.96 |
| RoNW | 24.96% |
| PAT Margin | 3.26% |
| EBITDA Margin | 5.42% |
| NAV | 76.77 |
| Price to Book Value | 4.88 |
| Pre IPO | Post IPO | |
| EPS (₹) | 19.16 | 14.33 |
| P/E (x) | 19.57 | 26.17 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Expansion of business by procuring new Government/PSU projects. | ₹155.00 |
| Funding working capital requirements. | ₹60.00 |
| Prepayment or repayment of certain outstanding borrowings availed by the Company. | ₹6.50 |
| General Corporate Purposes. |
ArMee Infotech IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Dynacons Systems & Solutions Limited | 16.41 |
| 2 | 10 | Orient Technologies Limited | 243.15 |
| 3 | 5 | KPI Green Energy Limited | 12.77 |
| 4 | 10 | Oriana Power Limited | 9.62 |
✅Strengths
- Strong Order Book with 99 ongoing projects.
- Diversified Services across IT and renewable energy.
- Government Client Base with extensive PSU experience.
- Multi-Sector Presence across public and private clients.
- Growing Project Portfolio with pan-India expansion plans.
⚠️Risks
- Client Concentration with significant revenue from top clients.
- Geographic Concentration in key states.
- Tender Dependence for winning new projects.
- Partner Dependence on key technology suppliers.
- New Renewable Business with limited experience.
ArMee Infotech IPO Promoter Holding
| Pre Issue Share Holding | 92.72% |
| Post Issue Share Holding | – |
ArMee Infotech IPO Prospectus
Company Contact Information
| ArMee Infotech Ltd. ArMee House, 17, Goyal Intercity Row, House Thaltej Road, Ahmedabad, Gujarat, 380054 Phone: 91 79 4911 4911 Email: cs@armeeinfotech.com Website: https://armeeinfotech.com/ |
ArMee Infotech IPO Registrar
| Cameo Corporate Services Ltd. Phone: 044-28460390/28460391/28460392 Email: ArMee@cameoindia.com Website: https://ipostatus1.cameoindia.com/ |
ArMee Infotech IPO Lead Manager(s)
| 1. Khandwala Securities Ltd. 2. Saffron Capital Advisors Pvt. Ltd. |
ArMee Infotech IPO FAQs
| What is the ArMee Infotech IPO? ArMee Infotech IPO is a main-board IPO. The issue is priced at ₹350 to ₹375 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the ArMee Infotech IPO open? The IPO is to open on 23 September 2026 for QIB, NII, and Retail Investors. |
| What is ArMee Infotech IPO Investors Portion? The investors’ portion for QIB – 25%, NII – 52.50%, and Retail – 22.50%. |
| What is the ArMee Infotech IPO Size? ArMee Infotech IPO size is ₹300.00 Crore. |
| What are the ArMee Infotech IPO Minimum and maximum lot sizes for Retail? The minimum bid is 40 Shares with ₹15,000, while the maximum bid is 520 Shares with ₹1,95,000. |
| What is the ArMee Infotech IPO Allotment Date? ArMee Infotech IPO allotment date is 28 September 2026. |
| What is the ArMee Infotech IPO Listing Date? ArMee Infotech IPO listing date is 30 September 2026. The IPO is to be listed on the BSE and the NSE. |
