ArMee Infotech IPO
ArMee Infotech IPO is a mainboard book-building public issue with a total issue size of approximately ₹300 crore.
The issue is entirely a fresh issue of 80,00,000 equity shares aggregating to approximately ₹300 crore.
The IPO will open for subscription on 23 September 2026 and close on 25 September 2026. ArMee Infotech shares are proposed to be listed on both NSE and BSE.
ArMee Infotech IPO Details
ArMee Infotech Limited is coming to the primary market with a ₹300 crore mainboard IPO. The issue is entirely a fresh issue of shares, meaning the proceeds from the issue will go to the company.
The fresh issue comprises 80,00,000 equity shares aggregating to approximately ₹300 crore.
The IPO price band has been fixed at ₹350 to ₹375 per share. Investors can apply for a minimum of 40 shares and thereafter in multiples of the specified lot size.
At the upper price band of ₹375 per share, one retail investor needs ₹15,000 to apply for one lot.
The company is proposed to be listed on both NSE and BSE. The basis of allotment is expected to be finalized on 28 September 2026, followed by share credit/refund on 29 September 2026 and tentative listing on 30 September 2026.
ArMee Infotech IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | 23 September 2026 |
| IPO Close Date | 25 September 2026 |
| IPO Size | ₹300 Crore |
| Price Band | ₹350 to ₹375 per share |
| Face Value | ₹10 per share |
| Lot Size | 40 Shares |
| Issue Type | Book Building |
| Issue Structure | Fresh Issue Only |
| Listing Exchange | NSE and BSE |
| Market Cap at Upper Band | ₹1,189.93 Crore |
| Expected Allotment | 28 September 2026 |
| Refund / Unblocking | 29 September 2026 |
| Demat Credit | 29 September 2026 |
| Tentative Listing Date | 30 September 2026 |
ArMee Infotech IPO Issue Size
| Issue Component | Shares | Approx. Amount |
|---|---|---|
| Total Issue | 80,00,000 | Up to ₹300 Cr |
| Fresh Issue | 80,00,000 | Up to ₹300 Cr |
| Offer for Sale | Nil | Nil |
ArMee Infotech IPO Share Capital
| Particulars | Shares |
|---|---|
| Shareholding Pre Issue | 2,37,31,386 Shares |
| Fresh Issue | 80,00,000 Shares |
| Shareholding Post Issue | 3,17,31,386 Shares |
ArMee Infotech IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Wednesday, 23 September 2026 |
| IPO Closes | Friday, 25 September 2026 |
| Allotment | Monday, 28 September 2026 |
| Refund / Unblocking | Tuesday, 29 September 2026 |
| Shares Credited to Demat | Tuesday, 29 September 2026 |
| Listing | Wednesday, 30 September 2026 |
ArMee Infotech IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 25% of the Net Issue |
| Retail Individual Investors | Not less than 52.50% of the Net Issue |
| Non-Institutional Investors (NII) | Not less than 22.50% of the Net Issue |
ArMee Infotech IPO Lot Size
Investors can bid for a minimum of 40 shares and thereafter in multiples of 40 shares.
| Investor Category | Lots | Shares | Investment at ₹375 |
|---|---|---|---|
| Retail Minimum | 1 | 40 | ₹15,000 |
| Retail Maximum | 13 | 520 | ₹1,95,000 |
| S-HNI Minimum | 14 | 560 | ₹2,10,000 |
| S-HNI Maximum | 66 | 2,640 | ₹9,90,000 |
| B-HNI Minimum | 67 | 2,680 | ₹10,05,000 |
About ArMee Infotech Ltd.
Founded in 2003 and headquartered in Ahmedabad, Gujarat, ArMee Infotech Limited is an IT infrastructure solutions and managed services company.
The company is part of the ArMee Group and provides end-to-end technology solutions across sectors including government, corporates, banking, financial services and insurance (BFSI), and education.
ArMee Infotech has also diversified its business into retail sales and renewable energy, expanding beyond its core IT infrastructure and managed services operations.
IT Infrastructure
The company provides IT hardware and software along with installation, integration, maintenance and related technical support services.
IT Managed Services
Its managed services business includes technical manpower, skill development and training, and annual maintenance services.
Retail Sales
ArMee Infotech operates Experience Zones focused on IT products, consumer electronics, gaming and related merchandise.
Renewable Energy
The company undertakes solar engineering, procurement and construction (EPC) projects and develops solar power projects under Power Purchase Agreements (PPAs). It is also involved in Battery Energy Storage System (BESS) projects.
As of 30 June 2026, the company had 99 ongoing projects, including 65 IT Infrastructure projects, 21 IT Managed Services projects, 10 Renewable Energy EPC projects, one Renewable Energy PPA project and two Renewable Energy BESS projects.
Of these 99 ongoing projects, 74 projects were located in Gujarat, 11 in Maharashtra and the remaining projects were spread across several other Indian states and New Delhi.
As of 30 June 2026, ArMee Infotech had 263 employees, including 219 skilled and semi-skilled technical personnel. The company had also engaged 1,648 contractual employees.
ArMee Infotech Business Strengths
- Proven track record in executing projects for Government and PSU clients.
- Consistent track record of financial performance.
- Ability to service clients and projects across diverse sectors.
- Experienced Board of Directors and management with domain knowledge.
- Diversified operations across IT infrastructure, managed services, retail and renewable energy.
- Large portfolio of ongoing projects across multiple Indian states.
ArMee Infotech IPO Objects of the Issue
The company proposes to utilise the net proceeds from the issue towards business expansion, working capital requirements, repayment or prepayment of certain borrowings and general corporate purposes.
| Use of Funds | Amount |
|---|---|
| Expansion of business by procuring new Government / PSU projects | ₹155.00 Crore |
| Funding working capital requirements | ₹60.00 Crore |
| Prepayment or repayment of certain outstanding borrowings | ₹6.50 Crore |
| General Corporate Purposes | Balance Amount |
| Total Identified Uses | ₹221.50 Crore* |
Note: The stated objects above are based on the issue information provided. The balance proceeds are proposed for general corporate purposes subject to the applicable issue documents.
ArMee Infotech Financial Performance
ArMee Infotech reported growth in revenue and profit between FY2025 and FY2026. Total income increased from ₹1,315.78 crore in FY2025 to ₹1,410.09 crore in FY2026, while profit after tax increased from ₹41.67 crore to ₹45.47 crore.
| Particulars (₹ Crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| 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 |
| Total Borrowings | 174.36 | 48.10 | 27.26 |
Note: Financial figures are presented in ₹ crore as reported in the company’s restated consolidated financial information.
ArMee Infotech IPO Key Performance Indicators
| KPI | 31 March 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 | 4.88x |
ArMee Infotech IPO Valuation
At the upper IPO price of ₹375 per share, ArMee Infotech has an estimated post-issue market capitalization of approximately ₹1,189.93 crore.
Based on the issue information provided, the post-issue valuation reflects a higher price-to-book multiple than the company’s reported NAV. Investors can compare the company’s earnings, margins, return ratios, debt levels and valuation with relevant listed IT infrastructure and technology-services companies before making an investment decision.
| Valuation Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | ₹19.16 | ₹14.33 |
| P/E | 19.57x | 26.17x |
| Market Capitalisation | ₹889.93 Cr | ₹1,189.93 Cr |
ArMee Infotech Shareholding Pattern
| Category | Pre-IPO | Post-IPO |
|---|---|---|
| Promoter & Promoter Group | 92.72% | Not provided |
| Public | 7.28% | Not provided |
| Total | 100% | 100% |
Company Promoters: Ami Ridhish Patel, Kiritkumar Chimanbhai Patel and Ridhish Kiritbhai Patel.
ArMee Infotech IPO Pros and Cons
Potential Positives
- Established IT infrastructure and managed services business.
- Experience in executing Government and PSU projects.
- Diversified presence across IT infrastructure, managed services, retail and renewable energy.
- Large number of ongoing projects across multiple sectors.
- IPO proceeds are intended partly for business expansion and working capital.
- Reported growth in total income and PAT between FY2025 and FY2026.
Key Risks
- The company has significant exposure to Government and PSU projects.
- Total borrowings increased substantially between FY2025 and FY2026.
- PAT margin remains relatively low at 3.26%.
- The company’s business spans multiple segments, including renewable energy and retail, which may involve different operating risks.
- A significant concentration of ongoing projects is in Gujarat.
- Future financial performance may depend on successful execution of ongoing and new projects.
ArMee Infotech IPO Registrar & Lead Managers
IPO Registrar: Cameo Corporate Services Ltd.
Book Running Lead Managers:
- Khandwala Securities Ltd.
- Saffron Capital Advisors Pvt. Ltd.
ArMee Infotech Ltd. Contact Details
Registered Office:
ArMee House, 17, Goyal Intercity,
Goyal Intercity Row House,
Thaltej, Thaltej Road,
Ahmedabad, Gujarat – 380054
Phone: +91 79 4911 4911
Email: cs@armeeinfotech.com
ArMee Infotech IPO Quick Summary
ArMee Infotech IPO is a mainboard public issue of approximately ₹300 crore. The IPO opens on 23 September 2026 and closes on 25 September 2026.
The IPO price band is fixed at ₹350 to ₹375 per share, while the minimum lot size is 40 shares. At the upper price band, one retail lot requires an investment of ₹15,000.
The issue consists entirely of a fresh issue of 80 lakh shares. There is no offer for sale component in the issue.
ArMee Infotech operates in IT infrastructure, managed services, retail sales and renewable energy. The company serves Government, corporate, BFSI and education-sector clients.
The company plans to use the IPO proceeds for expanding its Government and PSU project business, funding working capital, repaying certain borrowings and general corporate purposes.
The tentative allotment date is 28 September 2026, while the proposed listing date is 30 September 2026 on NSE and BSE.
ArMee Infotech IPO FAQs
Disclaimer
This ArMee Infotech IPO information is provided solely for educational and informational purposes. IPO investments are subject to market risks, and actual listing performance may differ from expectations. Investors should carefully review the company’s RHP, financial statements, risk factors and other official disclosures before making any investment decision. TradingMinds does not provide investment advice or guarantee IPO listing gains.
