Armour Security IPO
Market Sentiment
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 28.97 | 33.10 | 36.56 | 19.69 |
| Expense | 25.96 | 29.60 | 31.25 | 15.81 |
| Profit (PAT) | 2.26 | 2.62 | 3.97 | 2.90 |
| Total Assets | 15.51 | 23.61 | 27.37 | 32.10 |
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Kapston Services Limited | 8.79 | 34.12 | 20 |
Promoters: Mr. Vinod Gupta and Mrs. Arnima Gupta
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,22,20,000 | 96.80% |
Strengths & Risks
- Solid profit margin — 10.9%.
- Strong return on equity — 22%.
- Low leverage — debt/equity of 0.25.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Armour Security India, founded in August 1999, has been engaged in offering a wide range of security services such as armed guards, manpower support, and consultancy for commercial and residential clients across different sectors. Armour Security India has built a reputation for providing complete security solutions and reliable services in India. The company offers Private Security Services, Integrated Facility Management Services, Housekeeping Services, Event Management Services, Firefighting Services, Security Training, Supervision Services, and Other Manpower Services. From security planning to management services, the company provides complete private security solutions serving sectors like corporate, industrial, banking, healthcare, government, education, and universities.
Armour Security India Ltd, B-87,, Second Floor Defence Colony, New Delhi, New Delhi, 110024
| Purpose | Amount (Cr) |
|---|---|
| Funding of Working Capital requirement | 15.90 |
| Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles | 1.61 |
| Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company | 2.40 |
| General Corporate Purpose | - |
Resources & Documents
Armour Security has set a price band of Rs 54–Rs 57 per share in the security services sector. The stock listed with a 23.95% discount versus its issue price on January 22, 2026.
Armour Security India, founded in August 1999, has been engaged in offering a wide range of security services such as armed guards, manpower support, and consultancy for commercial and residential clients across different sectors. Armour Security India has built a reputation for providing complete security solutions and reliable services in India. The company operates in the security services space.
The issue is promoted by Mr. Vinod Gupta and Mrs. Arnima Gupta with Corpwis Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding of Working Capital requirement (Rs 16 crore) and Funding Capital expenditure requirements for purchasing of machinery, equipment and vehicles (Rs 2 crore).
On fundamentals, the company is posting revenue growth of 10.5%, a profit margin of 10.9%, return on equity of 21.6% in its most recent reported period. Listed peers in this segment include Kapston Services Limited (P/E 34.12x, market cap Rs 20 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Armour Security IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Armour Security GMP history and trend, or learn how grey market premium works and how reliable it is.
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