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ArMee Infotech IPOLISTED
ArMee Infotech Limited is an IT infrastructure and managed services company providing technology solutions to Government, PSU and private-sector clients.
Listing price
₹375
Listing gain
+0.00%
Current
₹375
Listed
30 Sept 26
Opens
23 Sept 26Closes
25 Sept 26Allotment
28 Sept 26Refund
29 Sept 26Demat
29 Sept 26Listing
30 Sept 26Overview
Price band
₹350-375
Lot size
40 shares
Min. investment
₹15,000
Issue size
₹300.00 Cr
80.00 L shares
Fresh issue
₹300 Cr
80.00 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 10,65,000 | 13.31% |
| QIB | 9,35,000 | 11.69% |
| NII (HNI) | 18,00,000 | 22.5% |
| B-HNI | 12,00,000 | 15% |
| S-HNI | 6,00,000 | 7.5% |
| Individual | 42,00,000 | 52.5% |
| Total | 80,00,000 | 100% |
Lot size & investment
| 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 | 2,640 | ₹9,90,000 |
| B-HNI (Min) | 67 | 2,680 | ₹10,05,000 |
Listing performance
NSE/BSE: ARMEEListing gain
0.00%
Gain per retail lot
₹0
Latest vs issue
—
GMP was
—
Issue price
Listing price
Latest price appears here during market hours.
ArMee Infotech Live GMP
Not enough GMP history yet to draw a trend.
Subscription
11 Oct, 12:56 pmOversubscribed 2.62 times · 1,44,008 applications
Total applications
1,44,008
Total bid amount
₹681 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | — | — | 3.20x | ₹112 Cr |
| NII (HNI) | — | — | 2.24x | ₹151 Cr |
| B-HNI | — | — | 1.49x | ₹67.16 Cr |
| S-HNI | — | — | 3.74x | ₹84.22 Cr |
| Retail | — | — | 2.65x | ₹417 Cr |
| Total | — | — | 2.62x | ₹681 Cr |
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
28.52%
PAT Margin
3.26%
ROCE
24.1%
EBITDA Margin
5.42%
Debt to Equity Ratio
0.96
Price to Book Value
4.88
RoNW
24.96%
Valuation vs listed peers
EPS Pre IPO
₹19.16
EPS Post IPO
₹14.33
P/E Pre IPO
19.57
P/E Post IPO
26.17
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Dynacons Systems & Solutions Limited | 16.41 | — | — | — |
| Orient Technologies Limited | 243.15 | — | — | — |
| KPI Green Energy Limited | 12.77 | — | — | — |
| Oriana Power Limited | 9.62 | — | — | — |
Peer median P/E 14.6× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+37.7%
Profit growth FY24 → FY26
-9.3%
P/E vs peer median
26.2× vs 14.6×
- PAT margin 3.3% and ROCE 24.1%.
- Priced above its listed-peer median P/E.
Strengths & risks
- 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.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Expansion of business by procuring new Government/PSU projects. | 155 |
| Funding working capital requirements. | 60 |
| Prepayment or repayment of certain outstanding borrowings availed by the Company. | 6.5 |
| General Corporate Purposes. | - |
Company & documents
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 provide
Registrar
Company contact
ArMee Infotech Ltd.
ArMee House, 17, Goyal Intercity Row, House Thaltej Road, Ahmedabad, Gujarat, 380054
Phone: +91 79-4911 4911
Email: cs@armeeinfotech.com
Book running lead managers
- Khandwala Securities Ltd.
- Saffron Capital Advisors Pvt. Ltd.
Promoters
- Ami Ridhish Patel
- Kiritkumar Chimanbhai Patel
- Ridhish Kiritbhai Patel