ArMee Infotech IPO
Bookbuilding IPO | ₹300.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Wed, Sep 23, 2026
IPO Close
Fri, Sep 25, 2026
Price Band
₹350.00 to ₹375.00
Market Cap (Pre-IPO)
₹1,189.93 Cr
IPO Details
| IPO Date | Sep 23, 2026 to Sep 25, 2026 |
| Listing Date | Tentative: Sep 30, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹350.00 to ₹375.00 |
| Lot Size | 40 Shares (Minimum: ₹15,000.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹300.00 Crores |
ArMee Infotech IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 25% of the Net Issue |
| Retail Shares Offered | Not less than 52.50% of the Net Issu |
| NII Shares Offered | Not less than 22.50% of the Net Issue |
ArMee Infotech IPO Lot Size
Investors can bid for a minimum of 40 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹15,000 |
| Retail (Max) | 13 | 520 | ₹195,000 |
| S-HNI (Min) | 14 | 560 | ₹210,000 |
| S-HNI (Max) | 66 | 2,640 | ₹2,640 |
| B-HNI (Min) | 67 | 2,680 | ₹1,005,000 |
ArMee Infotech Financial Information (Restated Consolidated)
ArMee Infotech Ltd.'s revenue increased by 7% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 958.87 | 828.54 | 673.50 |
| Total Income | 1,410.09 | 1,315.78 | 1,023.99 |
| Profit After Tax | 45.47 | 41.67 | 50.13 |
| EBITDA | 75.64 | 58.64 | 71.58 |
| NET Worth | 182.18 | 136.67 | 95.18 |
| Reserves and Surplus | - | - | - |
| Total Borrowing | 174.36 | 48.10 | 27.26 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 28.52% |
| ROCE (Return on Capital Employed) | 24.10% |
| Debt/Equity | 0.96 |
| RoNW (Return on Net Worth) | 24.96% |
| PAT Margin (Profit After Tax Margin) | 3.26% |
| EBITDA Margin | 5.42% |
| Price to Book Value | 4.88 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 19.16 | 14.33 |
| P/E (x) | 19.57 | 26.17 |
Company Overview
ArMee Infotech Limited – Company Overview
- Founded in 2003 and headquartered in Ahmedabad, Gujarat, ArMee Infotech Limited (AIL) is an IT infrastructure solutions and managed services company and part of the ArMee Group.
- The Company provides end-to-end technology solutions across sectors including government, corporates, banking, financial services and insurance (BFSI), and education. It has also diversified into retail sales and renewable energy.
- IT Infrastructure: Provides IT hardware and software along with installation, integration, maintenance and related support services.
- IT Managed Services: Offers technical manpower, skill development and training, and annual maintenance services.
- Retail Sales: Operates Experience Zones focused on IT products, consumer electronics, gaming and related merchandise.
- Renewable Energy: Undertakes solar engineering, procurement and construction (EPC) projects and develops solar power projects under Power Purchase Agreements (PPAs), along with Battery Energy Storage System (BESS) projects.
- 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.
- Of the 99 ongoing projects, 74 projects were located in Gujarat, 11 in Maharashtra, 2 each in Bihar, Andhra Pradesh, Uttar Pradesh, Madhya Pradesh and Rajasthan, and 1 each in Telangana, Tamil Nadu, Uttarakhand and New Delhi.
- As of June 30, 2026, the Company had 263 employees, including 219 skilled and semi-skilled technical personnel engaged in the implementation and management of various projects. In addition, it had 1,648 employees engaged on a contractual basis.
Company Strengths
- 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
Use of Proceeds
| 1) | Expansion of business by procuring new Government/PSU projects. | 155.00 |
| 2) | Funding working capital requirements | 60.00 |
| 3) | Prepayment or repayment of certain outstanding borrowings availed by the Company. | 6.50 |
| 4) | General Corporate Purposes | |
| Total | 221.50 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
ArMee Infotech IPO Peer Comparison
ArMee Infotech peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| ArMee Infotech Ltd. | 19.16 | 19.16 | 76.77 | - | 24.96 | - | Consolidated |
| Dynacons Systems & Solutions Ltd. | 66.64 | 66.64 | 247.54 | 16.41 | 26.90 | 4.43 | Consolidated |
| Orient Technologies Ltd. | 1.00 | 1.00 | 73.44 | 243.15 | 1.36 | 3.33 | Consolidated |
| Kpi Green Energy Ltd. | 24.13 | 24.04 | 159.86 | 12.77 | 16.14 | 1.93 | Consolidated |
| Oriana Power Ltd. | 124.19 | 124.19 | 379.55 | 9.62 | 32.72 | 32.72 | Consolidated |
Quick Info
| Sector | Information Technology (IT) infrastructure, managed services, and renewable energy |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,189.93 Cr |
Important Dates
| IPO Open | Sep 23, 2026 |
| IPO Close | Sep 25, 2026 |
| Allotment Date | Sep 28, 2026 |
| Credit to Demat | Sep 29, 2026 |
| Listing Date | Tentative: Sep 30, 2026 |
Lead Manager(s)
Khandwala Securities Ltd.
Registrar
Cameo Corporate Services Ltd.
044-28460390/28460391/28460392
Description
- IPO Type: Book build issue aggregating to ₹300.00 crores.
- Issue Structure: The issue is entirely a fresh issue of 80.00 lakh shares aggregating to ₹300.00 crores.
- IPO Dates: The issue opens for subscription on September 23, 2026 and closes on September 25, 2026.
- Allotment Date: The allotment is expected to be finalized on September 28, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on September 30, 2026.
- Retail Investment Requirement: Minimum 1 lot (40 shares) amounting to approximately ₹15,000 at the upper price band.
- Issue Price Band: ₹350 to ₹375 per equity share.
- Lot Size: 40 shares per lot.
This IPO offers investors an opportunity to participate in the company through an entirely fresh issue of shares.