- Price band
- To be announcedNot in this filing
- Issue size
- ₹300 Cr
- Face value
- ₹10per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingTue, 2026
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentMon, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- —
- Offer for sale
- None
- Total issue
- —
- Face value
- ₹10
- Listing at
- NSE, BSE
- RHP date
- 16 Sept 2026
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 53% |
| Non-institutional investors (NII) | — | — | 23% |
| Qualified institutional buyers (QIB) | — | — | 25% |
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2026, pre-issue- EPS (basic)
- ₹19.16
- EPS (basic) (FY 2025)
- ₹17.56
- EPS (basic) (FY 2024)
- ₹21.12
- EPS (basic) (Weighted average)
- ₹18.95
- EPS (diluted)
- ₹19.16
- RoNW
- 24.96%
- RoNW (Weighted average)
- 31.42%
- NAV per share
- ₹76.77
- Debt to equity
- 0.96
- EBITDA margin
- 5.42%
- PAT margin
- 3.26%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2026FY 2026 | 31 Mar 2025FY 2025 | 31 Mar 2024FY 2024 |
|---|---|---|---|
| Revenue from operations | 1,396.63 | 1,313.31 | 1,020.57 |
| Total income | 1,410.09 | 1,315.78 | 1,023.99 |
| EBITDA | 75.64 | 58.64 | 71.58 |
| Profit after tax | 45.47 | 41.67 | 50.13 |
| Net worth | 182.18 | 136.67 | 95.18 |
| Reserves and surplus | 158.45 | 112.94 | 71.44 |
| Total assets | 958.87 | 828.54 | 673.50 |
| Total borrowing | 174.36 | 48.10 | 27.26 |
FY 2026 vs FY 2025: revenue +6.3%, profit after tax +9.1%.
Source: Red Herring Prospectus dated 16 Sept 2026Updated
About the company
The company provides IT infrastructure and managed IT services, mainly to government and public sector clients, and has added retail sales through its Experience Zones. It has also recently entered renewable energy through solar EPC work, solar power development under PPAs, and battery energy storage projects.
- Incorporated
- 2011
- Industry
- IT Infrastructure and Renewable Energy
- CIN
- U72100GJ2011PLC063953
- Website
- armeeinfotech.com
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Ami Ridhish Patel | 76.19% | — |
| Kiritkumar Chimanbhai Patel | 10.62% | — |
| Ridhish Kiritbhai Patel | 5.91% | — |
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding fixed deposits as collateral for performance bank guarantees for business expansion | 155.00 |
| Funding working capital requirements | 60.00 |
| Prepayment or repayment of certain outstanding borrowings | 6.50 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| ArMee Infotech LimitedIssuer | ₹19.16 | — | 24.96% | ₹76.77 |
| Dynacons Systems & Solutions Limited | ₹66.64 | 16.41× | 26.90% | ₹247.54 |
| Orient Technologies Limited | ₹1 | 243.15× | 1.36% | ₹73.44 |
| KPI Green Energy Limited | ₹24.13 | 12.77× | 16.14% | ₹159.86 |
| Oriana Power Limited (SME Board) | ₹124.19 | 9.62× | 32.72% | ₹379.55 |
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Established record of executing IT infrastructure projects for government and public sector clients.
- Revenue and profit have been reported across the three years shown in the restated financials.
- Experienced promoters and management with long association with the business.
- Entry into renewable energy EPC, PPA and battery storage projects diversifies the business.
- Order book stood at about ₹1.19 lakh lakhs as at March 31, 2026, rising to about ₹2.66 lakh lakhs as at June 30, 2026.
Risks
- Revenue is concentrated in Gujarat, Maharashtra and Tamil Nadu, and in government and PSU clients.
- Business depends on winning competitive government tenders, with bid success rates falling over FY 2024 to FY 2026.
- Large performance bank guarantees must be backed by fixed deposits, tying up working capital.
- Renewable energy is a new line of business where promoters and senior management have limited experience.
- Some revenue from government end users was booked under private clients through an empanelled partner, which affects comparability of segment revenue.
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Contacts
Source: Red Herring Prospectus dated 16 Sept 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 16 Sept 2026Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the ArMee Infotech IPO open and close?
According to the Red Herring Prospectus, the issue opens on Wednesday, 23 September 2026 and closes on Friday, 25 September 2026.
What is the ArMee Infotech IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will ArMee Infotech shares list?
On NSE and BSE. The tentative listing date is Wednesday, 30 September 2026.
Who is the registrar of the issue?
Cameo Corporate Services Limited (SEBI registration INR000003753). Allotment status is checked on the registrar's website.
How do I check the ArMee Infotech IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 28 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Cameo Corporate Services Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹155 Cr for funding fixed deposits as collateral for performance bank guarantees for business expansion, ₹60 Cr for funding working capital requirements, ₹6.5 Cr for prepayment or repayment of certain outstanding borrowings, and the rest for the other stated purposes.
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