Armour Security (India) Ltd. is engaged in the business of providing manpower services and integrated facility management solutions, with a strong focus on private security services across India.
The company offers end-to-end private security solutions, including security planning, deployment, supervision, and management services. Its service portfolio is designed to meet the evolving safety and operational needs of clients across sectors such as corporate offices, industrial units, banking and financial institutions, healthcare facilities, government establishments, educational institutions, and universities.
Armour Security operates on a pan-India basis, with branch offices across multiple states, enabling it to manage region-specific operational and regulatory requirements efficiently. This geographic presence allows the company to respond effectively to the dynamic nature of the Indian security services market.
In addition to private security services, the company provides integrated facility management services, including housekeeping, cleaning, waste management, and building maintenance services.
It also offers skilled, semi-skilled, and unskilled manpower solutions, supplying workforce support for various operational roles such as data entry operators, pantry staff, drivers, gardeners, technicians, and other support personnel, as per client requirements.
The company’s service offerings also include event security and management services, firefighting and fire safety services, security training programs, and supervision services, ensuring compliance with client-specific and industry standards.
As of February 28th, 2025, the company had 37 permanent employees and 1269 contractual employees.
Armour Security India IPO – Details
| IPO Opening Date | 14 January 2026 |
| IPO Closing Date | 19 January 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 46,50,000 Shares Worth ₹27.00 Crore Fresh Issue: 46,50,000 Shares Worth ₹27.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹55 – ₹57 per share |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Skyline Financial Services Pvt.Ltd. |
| QIB Shares Offered | 1% |
| NII Shares Offered | 49.6% |
| Retail Shares Offered | 49.4% |
Armour Security India IPO – Date Schedule
| IPO Open Date | 14 January 2026 |
| IPO Close Date | 19 January 2026 |
| Basis of Allotment | 20 January 2026 |
| Initiation of Refund | 21 January 2026 |
| Credit of Shares to Demat | 21 January 2026 |
| IPO Listing Date | 22 January 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 19, 2026 |
Armour Security India IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,28,000 |
| Retail (Max) | 2 | 4,000 | ₹2,28,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,42,000 |
| S-HNI (Max) | 8 | 16,000 | ₹9,12,000 |
| B-HNI (Min) | 9 | 18,000 | ₹10,26,000 |
Competitive Strength
- Diversified Services Portfolio.
- Expertise and Experience.
- Compliance and Certifications.
- Customer Retention.
- Technology Integration.
Company Promoters
- Mr. Vinod Gupta
- Mrs. Arnima Gupta
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹28.97 Cr | ₹25.96 Cr | ₹2.26 Cr | ₹0.85 Cr |
| 31 March 2024 | ₹33.10 Cr | ₹29.60 Cr | ₹2.62 Cr | ₹1.80 Cr |
| 31 March 2025 | ₹36.56 Cr | ₹31.25 Cr | ₹3.97 Cr | ₹4.69 Cr |
| 30 September 2025 | ₹19.69 Cr | ₹15.81 Cr | ₹2.90 Cr | ₹6.01 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 13.61% |
| ROCE | 15.45% |
| Debt/Equity | 0.28 |
| RoNW | 13.61% |
| PAT Margin | 14.76 |
| EBITDA Margin | 21.84 |
| Price to Book Value |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.25 | 3.44 |
| P/E (x) | 17.53 | 16.55 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| 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 purposes. | – |
✅Strengths
- Over 25 years of operating experience in security and manpower services.
- End-to-end service portfolio: security, facility management, housekeeping & manpower.
- Pan-India presence with multi-state operations.
- Diversified client base across corporate, industrial, banking, healthcare & government sectors.
- Asset-light business model enables scalability.
- Large contractual workforce supporting long-term service contracts.
⚠️Risks
- High dependence on contractual labour.
- Strict labour law compliance requirements.
- Highly competitive and fragmented industry.
- Client concentration risk from large contracts.
- Margin pressure due to rising wages & statutory costs.
- Operational risks due to pan-India execution.
Armour Security India IPO Promoter Holding
| Pre-Issue Share Holding | 96.80% |
| Post Issue Share Holding | – |
Armour Security India IPO Prospectus
Company Contact Information
| 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/ |
Armour Security India IPO Registrar
| Skyline Financial Services Pvt.Ltd. Phone: 02228511022 Email: grievances@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
Armour Security India IPO Lead Manager(s)
| 1. Sobhagya Capital Options Pvt.Ltd. |
Armour Security India IPO FAQ
| What is the Armour Security India IPO? Armour Security India IPO is an SME IPO. The issue is priced at ₹55 – ₹57 per equity share. The IPO is to be listed on NSE SME. |
| When will Armour Security India IPO open? The IPO is to open on 14 January 2025 for QIB, NII, and Retail Investors. |
| What is Armour Security India IPO Investors’ Portion? The investors’ portion for QIB – 1%, NII – 49.6%, and Retail – 49.4%. |
| What is the Armour Security India IPO Size? Armour Security India IPO size is ₹27.00 Crore. |
| What are the Armour Security India IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 4000 Shares for ₹2,28,000, while the maximum bid is 4000 Shares for ₹2,28,000. |
| What is the Armour Security India IPO Allotment Date? Armour Security India IPO allotment date is 20 January 2026. |
| What is the Armour Security India IPO Listing Date? Armour Security India IPO listing date is 22 January 2026. The IPO is to be listed on the NSE SME. |
