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ArMee Infotech IPO
Price Band
₹350.0–375.0
Issue Size
₹300.0 Cr
Lot Size
40 shares
Min Investment
₹15,000
GMP
+₹8.0 (2.13%)
Issue Price
₹375.0
Subject to Sauda
₹200
Paid only if allotted
ArMee Infotech IPO AI Summary
- ArMee Infotech IPO is allotted on BSE, NSE in the Computers Hardware & Equipments sector.
- Price band: ₹350.0–₹375.0 per share, lot size 40 shares (min. investment ₹15,000).
- Subscription window: 23 Sep–25 Sep 2026, listing on 30 Sep 2026.
- Current GMP is +₹8.0 (2.13%), an estimated listing price of ₹383 — unofficial and can change daily.
ArMee Infotech Limited is a growing IT infrastructure solutions provider with a diverse project portfolio. The IPO aims to raise ₹300 Cr to support business expansion and working capital needs, with a competitive valuation compared to its peers.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
ArMee Infotech IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
2.62x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
3.20x
|
3.20x |
| NII (HNI) |
2.24x
|
2.24x |
| ↳ bNII (>₹10L) |
1.49x
|
1.49x |
| ↳ sNII (<₹10L) |
3.74x
|
3.74x |
| Retail (RII) |
2.65x
|
2.65x |
| Total | 2.62x | 2.62x |
Auto-updated every 5 min · As of 25th Sep 2026 18:56
ArMee Infotech IPO Grey Market Premium (GMP) Today
GMP
+₹8.0
GMP %
+2.13%
Est. Listing
₹383.0
Updated: 28 Sep 2026 02:15
GMP Trend (Last 10 Days)
TopFund Score — Listing Data Indicator
GMP is 2.1% above issue price
QIB subscribed 3.2x
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 15.6% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
ArMee Infotech Limited (AIL), founded in 2003, is an IT infrastructure solutions and managed services company based in Ahmedabad, Gujarat. As part of the ArMee Group, the company provides end-to-end IT solutions across various sectors, including government, corporate, banking, financial services, insurance (BFSI), and education. Key Business Areas: IT Infrastructure: Provides IT hardware, software, installation, integration, and maintenance services. IT Managed Services: Offers technical manpower, skill development training, and annual maintenance services. Retail Sales: Operates Experience Zones for IT, consumer electronics, and gaming products. Renewable Energy: Engaged in solar EPC projects and power purchase agreements (PPAs). As of September 30, 2024, the company had 20 ongoing projects, with 11 under the IT infrastructure category and 9 under IT managed services. Additionally, there were 183 projects where contractual obligations for execution and full payment were completed, but the warranty period was still active. Among the 20 ongoing projects, 13 were located in Gujarat, four in Maharashtra, and one each in Madhya Pradesh, Uttarakhand, and Bihar. Gujarat contributed 39.72% of the company's revenue from operations as of September 30, 2024. As of the same date, ArMee Infotech Limited had a workforce of 1,772 employees.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| 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 Borrowing | 174.36 | 48.10 | 27.26 |
Key Ratios
EPS
₹19.16
NAV
₹76.77
ROE
28.52%
ROCE
24.10%
RoNW
24.96%
P/B Value
4.88
P/E Ratio
19.57
Market Cap
₹1189.93 Cr
PAT Margin
3.26%
Debt/Equity
0.96
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Oriana Power Ltd. | 379.55 | 32.72% | 9.62 | 124.19 | 124.13 |
| Kpi Green Energy Ltd. | 159.86 | 16.14% | 12.77 | 24.13 | 24.04 |
| Orient Technologies Ltd. | 73.44 | 1.36% | 243.15 | 1 | 1 |
| Dynacons Systems & Solutions Ltd. | 247.54 | 26.9% | 16.41 | 66.64 | 66.64 |
| ArMee Infotech Ltd. This IPO | 76.77 | 24.96% | — | 19.16 | 19.16 |
Promoters
Ami Ridhish Patel, Kiritkumar Chimanbhai Patel, Ridhish Kiritbhai Patel
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Expansion of business by procuring new Government/PSU projects. 155.00 2 Funding working capital requirements 60.00 3 Prepayment or repayment of certain outstanding borrowings availed by the Company. 6.50 4 General Corporate Purposes Total 221.50
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹1,023.99 Cr for the period ending 31 Mar 2024, rising to ₹1,315.78 Cr by 31 Mar 2025, and further increasing to ₹1,410.09 Cr by 31 Mar 2026.
Profit Trend
Profit after tax was ₹50.13 Cr for the period ending 31 Mar 2024, which decreased to ₹41.67 Cr by 31 Mar 2025, before rising to ₹45.47 Cr by 31 Mar 2026. This indicates fluctuations in profitability over the periods.
Valuation
At the issue price of ₹375.0, ArMee Infotech's implied P/E ratio is approximately 19.57, compared to peers trading at P/E ratios ranging from 9.62 to 243.15.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the price at which shares are being bought and sold in the grey market prior to the official listing. A positive GMP suggests that the market expects the stock to list at a higher price than the issue price.
Subscription Demand
As of 25th September 2026, the IPO was subscribed 2.62 times overall. The institutional segment saw a subscription of 3.2 times, while the retail segment was subscribed 2.65 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and industry trends.
Who May Want to Wait
Investors who prefer stable and predictable returns may want to avoid this IPO, as the technology sector can be subject to rapid changes and uncertainties.
IPO Timeline, Explained
The IPO opens on 23rd September 2026 and closes on 25th September 2026. Allotment of shares is expected by 28th September 2026, with the listing date set for 30th September 2026.
Listing Gains — The Risk
Listing gains are the profits made when an IPO shares are sold on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from ArMee Infotech's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is ArMee Infotech IPO GMP today?
ArMee Infotech IPO GMP today is +₹8.0 (2.13%), indicating an estimated listing price of ₹383. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of ArMee Infotech IPO?
The price band of ArMee Infotech IPO is ₹350.0–₹375.0 per share.
When does ArMee Infotech IPO open and close?
ArMee Infotech IPO opens on 23 September 2026 and closes on 25 September 2026.
When does ArMee Infotech IPO list on the stock exchange?
ArMee Infotech IPO is scheduled to list on 30 September 2026, with an estimated listing price of ₹383.0 based on current GMP.
What is the lot size for ArMee Infotech IPO?
The lot size for ArMee Infotech IPO is 40 shares, requiring a minimum investment of ₹15,000.
What is the TopFund Listing Data Indicator for ArMee Infotech?
ArMee Infotech's Listing Data Indicator score is 47/100 (Moderate signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the lot size for this IPO?
The lot size for ArMee Infotech's IPO is 40 shares.
What is the minimum investment required?
The minimum investment required is ₹15,000.
What is the price band for the IPO?
The price band for the IPO is ₹350.0 to ₹375.0.
When is the listing date for the IPO?
The listing date for the IPO is 30th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Sep 2026
Close
25 Sep 2026
Allotment
28 Sep 2026
Listing
30 Sep 2026
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