ArMee Infotech IPO shares are set to list on both BSE and NSE today, September 30, 2026, following a strong subscription performance. The grey market premium (GMP) for ArMee Infotech stands at ₹6, indicating a listing price of ₹381 compared to the issue price of ₹375. The IPO received bids for 18.15 million shares against 7.4 million shares on offer, resulting in a total subscription of 2.44 times. The subscription details showed strong institutional interest with Qualified Institutional Buyers (QIBs) subscribing 3.20 times, while Non-Institutional Investors (NIIs) subscribed 2.24 times and retail investors demonstrated robust participation by subscribing 2.65 times. Khandwala Securities is managing the issue, while Cameo Corporate is acting as the registrar.
ArMee Infotech shares made their debut on BSE and NSE today, September 30, 2026, at a weak note against the issue price of ₹375. On the BSE, the stock opened at ₹368 per share, marking a discount of ₹1.64% from the issue price, while on the NSE, the stock made its debut at ₹375, in line with its IPO price. Following the debut, the stock hit a low of ₹320 on the BSE, down 14.6% from the offer price, and ₹317.40 on the NSE, down 15.36%. The market capitalisation for the stock on BSE stood at ₹1,170.41 crores. The IPO price band was set at ₹350 to ₹375 per share with a lot size of 40 shares, requiring a minimum investment of ₹15,000 at the upper end of the price band for retail investors. Khandwala Securities Ltd. and Saffron Capital Advisors Pvt. Ltd. are the book-running lead managers for the issue.
The ArMee Infotech IPO was subscribed 2.62 times overall, receiving bids for 1.81 crore shares against 69.35 lakh shares on offer. The subscription details showed strong institutional interest with Qualified Institutional Buyers (QIBs) subscribing 3.20 times, while Non-Institutional Investors (NIIs) category subscribed 2.24 times and retail investors demonstrated robust participation by subscribing 2.65 times. The IPO opened for subscription on September 23, 2026 and closed on September 25, 2026. In the unlisted markets, shares of ArMee Infotech are trading at a premium of ₹6, suggesting a likely listing price of ₹381 based on the upper end of the price band of ₹375, indicating potential gains of ₹240 per lot. At the upper end of the price band, ArMee Infotech is expected to command a post-listing market capitalisation of around ₹1,189.93 crore.
The ArMee Infotech IPO is entirely a fresh issue of 80 lakh shares worth ₹300 crore with no offer-for-sale component. The issue price band was set at ₹350 to ₹375 per share. For retail investors, the minimum bid size was 40 shares, requiring an investment of ₹15,000 at the upper end of the price band. The equity shares are proposed to be listed on both BSE and NSE, with the post-issue promoter and promoter group shareholding expected to stand at 69.35%. The ₹300 crore IPO proceeds will be earmarked for expansion of business by procuring new government and PSU projects, funding working capital needs, repayment of certain outstanding borrowings, and general corporate purposes.
According to the company announcement, ₹155 crore from the IPO proceeds will be used to secure performance bank guarantees for business expansion, while ₹60 crore will fund working capital requirements and ₹6.50 crore will be used to repay certain borrowings. The company operates as an IT infrastructure solutions and managed services company headquartered in Gujarat and part of the Armee Group. Founded in 2003 and headquartered in Ahmedabad, Gujarat, ArMee Infotech provides technology solutions to clients across sectors including government, corporates, education and banking, financial services and insurance (BFSI). The company has also expanded into areas such as retail sales and renewable energy. ArMee Infotech operates across three segments — IT infrastructure, IT managed services and renewable energy. In IT infrastructure, the company provides IT hardware and software, including computers, servers, interactive panels and peripherals, while under IT managed services, it provides technical manpower, skill-development training and annual maintenance services.
The company's consolidated sales increased 6.3% to ₹1,396.63 crore in FY2026 from ₹1,313.31 crore in FY2025. Operating profit rose 29% to ₹75.64 crore, while operating profit margin improved to 5.42% from 4.47%. Profit before tax increased 14.7% to ₹60.99 crore, and profit after tax rose 9.1% to ₹45.47 crore. As of June 30, 2026, the company's order book stood at ₹3,287.37 crore, providing revenue visibility in the near to medium term. For the financial year ended March 2026, ArMee Infotech's profit increased 9.1% to ₹45.5 crore from ₹41.7 crore in the previous year. The IT infrastructure segment contributed nearly 86% of revenue in financial year 2026, while IT managed services accounted for more than 5% and renewable energy EPC contributed nearly 9%.
