Armour Security India Limited
IPO Details
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Lot Distribution
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Armour Security India Limited's successfully completed its Initial Public Offering and commenced trading on Jan 22, 2026 at the NSE exchange. The company raised 46,50,000 Shares through this public offering, comprising 46,50,000 Shares in fresh capital.
The IPO was priced within the band of ₹55 to ₹57, with minimum application lots of 2000 shares. The offering attracted significant investor interest during its subscription period from Jan 14, 2026 to Jan 19, 2026.
Share allotment was finalized on Jan 20, 2026, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Armour Security India was incorporated in August 1999 and provides a wide range of security and manpower-related services across India. The company mainly focuses on commercial and residential security and is known for offering dependable and end-to-end security solutions. With branches across multiple states, it operates on a pan-India level to meet the changing needs of the security industry. Its services include private security guards, complete security planning and management, integrated facility management, housekeeping, and manpower supply. The company caters to sectors such as corporate offices, industries, banks, healthcare institutions, government bodies, educational institutions, and universities by providing individual security personnel or full teams as required. In addition, it offers event security, firefighting services with training and drills, security training programs, supervision services, and skilled, semi-skilled, and unskilled manpower for roles like data entry operators, drivers, electricians, plumbers, gardeners, and support staff. As of 28 February 2025, the company employed 37 permanent staff members and 1,269 contractual employees.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Multiple service offerings – Providing security, facility management, housekeeping, and manpower services helps spread risk and avoid reliance on one service.
- Experienced in the field – Many years of industry experience help build trust and strong relationships with clients.
- Compliance-oriented approach – Following required rules and certifications makes it easier to work with large institutions and government bodies.
- High dependence on core services – Most revenue comes from security manpower and facility management, so changes in demand can affect overall performance.
- Client and government reliance – Heavy dependence on a limited number of clients and government contracts may lead to fluctuations in income.
- Labour-intensive operations – Reliance on contractual workers increases exposure to rising wages, employee turnover, and regulatory compliance issues.
- Mr. Vinod Gupta
- Mrs. Arnima Gupta
Armour Security India Limited
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