
Armour Security IPO is a book-built issue aiming to raise ₹26.51 crore. The issue is entirely a fresh issue of 0.47 crore equity shares aggregating to ₹26.51 crore. The bidding window opened on January 14, 2026, and closed on January 19, 2026, with the allotment expected to be finalised on January 20, 2026. Armour Security India Limited is scheduled to list on NSE SME on January 22, 2026.
The IPO was priced in the range of ₹55–₹57 per share with a lot size of 2,000 shares. The public issue received bids for 80,40,000 shares against 44,16,000 shares offered, resulting in an overall subscription of 1.82 times. Retail individual investors led the demand, subscribing 2.58 times their quota, followed by NIIs at 1.08 times, while QIBs subscribed 1.00 time.
Armour Security’s ₹26.51 crore IPO, priced at ₹55–₹57 per share, was subscribed 1.82 times overall. The issue is a fresh issue of 46,50,000 equity shares, with 44,16,000 shares offered to the public after market maker allocation.
Bidding took place from January 14 to January 19, 2026, and the Armour Security IPO allotment status is expected on January 20, 2026. Retail investors subscribed 2.58 times and NIIs subscribed 1.08 times their respective quotas and listing is scheduled for January 22, 2026, on NSE SME.
The table below breaks down the Armour Security share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,34,000 (5.03%) |
| QIB Shares Offered | 46,000 (0.99%) |
| NII (HNI) Shares Offered | 21,90,000 (47.10%) |
| − bNII > ₹10L | 14,60,000 (31.40%) |
| − sNII < ₹10L | 7,30,000 (15.70%) |
| Retail Shares Offered | 21,80,000 (46.88%) |
| Total Shares Offered | 46,50,000 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers (QIB) | 1 |
| Non-Institutional Investors (NII) | 1.08 |
| Retail Individual Investors (RII) | 2.58 |
| Total | 1.82 |
Note: The subscription details are as of January 19, 2026
Armour Security India Limited was incorporated in August 1999 and is engaged in providing comprehensive private security and manpower solutions across India. Over the years, the company has developed expertise in delivering customised security services tailored to the needs of commercial, residential, and institutional clients. Its long operating history reflects stability and experience in a highly competitive and fragmented industry.
The company offers a diversified portfolio of services, including armed and unarmed guarding, integrated facility management, housekeeping, supervision services, and event security. In addition to security operations, Armour Security also provides firefighting services, security training programmes, and consultancy services. This wide service range enables the company to cater to sectors such as corporate offices, industrial units, banking, healthcare, government establishments, and educational institutions.
Armour Security operates on a PAN-India basis with branches across multiple states, allowing it to respond effectively to regional security requirements and changing market dynamics. The company deploys individual security personnel as well as complete security teams depending on client requirements. As of February 28, 2025, it employed 37 permanent staff and 1,269 contractual employees, supporting its operational scale.
The company’s business model focuses on customer retention, regulatory compliance, and the integration of technology into security operations. Its emphasis on training, supervision, and service quality has helped establish a reputation for reliability among clients. Going forward, Armour Security continues to strengthen its presence by expanding service offerings and enhancing operational efficiency within the organised private security segment.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 19, 2026, 6:47 PM IST

Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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