ArMee Infotech IPO 2026: Details, GMP, Financials, Lot Size & Analysis

ArMee Infotech IPO is a ₹300 crore book-built issue that will open for subscription from September 23 to September 25, 2026. The issue comprises entirely of a fresh issue of ₹300 crore, with no offer for sale component. The price band has been fixed at ₹350 to ₹375 per equity share.

ArMee Infotech Limited is an Ahmedabad-based IT infrastructure solutions and managed services company serving government, PSU, corporate, BFSI and education sectors.

The company also operates retail Experience Zones and has a renewable energy business focused on solar EPC projects.

The IPO is proposed to fund business expansion, working capital requirements, debt repayment and general corporate purposes. The shares are proposed to list on BSE and NSE on September 30, 2026.

ArMee Infotech IPO Details

ArMee Infotech IPO Timeline

Dates are tentative and subject to change.

ArMee Infotech IPO GMP Today

As of September 19, 2026, ArMee Infotech IPO GMP is reported at ₹0. Based on the upper price band of ₹375 and the current GMP of ₹0, the indicative estimated listing price is ₹375, representing a 0% premium over the issue price.

GMP Disclaimer: Grey Market Premium is sourced from market participants and is indicative only. GMP can change before listing and does not guarantee the actual listing price. Investors should conduct their own due diligence.

ArMee Infotech IPO Subscription Status

The ArMee Infotech IPO will open for bidding on September 23, 2026. Therefore, live subscription figures are not available yet.

Subscription data will become available once bidding begins and will generally be tracked across Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII) and Retail Individual Investors (RII).

ArMee Infotech IPO Day-wise Subscription Trend

Current ArMee Infotech IPO Subscription

The IPO has not opened yet as of September 18, 2026. Current subscription data will be updated after bidding starts.

ArMee Infotech IPO Lot Size

The minimum bid is 40 shares, and investors can bid in multiples of 40 shares.

Investment amounts are calculated at the upper price band of ₹375 per share.

ArMee Infotech IPO Reservation

About ArMee Infotech

ArMee Infotech Limited, founded in 2003, is an IT infrastructure solutions and managed services company headquartered in Ahmedabad, Gujarat.

The company operates across multiple segments including IT infrastructure, managed services, retail sales and renewable energy. Its customers and projects span government departments, PSUs, corporates, BFSI institutions and educational organisations.

Its IT infrastructure business provides hardware, software, installation, integration and maintenance services. The managed services segment includes technical manpower, skill development training and annual maintenance services.

The company also operates Experience Zones selling IT, consumer electronics and gaming products. In renewable energy, ArMee Infotech undertakes solar EPC projects and enters into power purchase agreements.

As of September 30, 2024, the company had 20 ongoing projects, including 11 IT infrastructure projects and 9 IT managed services projects. It also had 183 projects where contractual execution and payment obligations were completed, with warranty periods still active.

Of 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 revenue from operations as of September 30, 2024.

The company had a workforce of 1,772 employees as of the same date.

Major Customers & Business Presence

ArMee Infotech primarily serves institutional and enterprise customers rather than depending only on individual consumers. Its customer ecosystem includes:

• Government departments
• Public Sector Undertakings
• Corporate organisations
• Banks and financial institutions
• Insurance companies
• Educational institutions

The supplied IPO information does not disclose a list of individual major customers.

ArMee Infotech Product & Business Portfolio

The company operates across four key business areas:

• IT Infrastructure: Hardware, software, system installation, integration and maintenance.
• IT Managed Services: Technical manpower, training, support and annual maintenance contracts.
• Retail Sales: Experience Zones for IT hardware, consumer electronics and gaming products.
• Renewable Energy: Solar EPC projects and power purchase agreements.

This diversified business model allows ArMee Infotech to participate in both technology infrastructure and renewable energy opportunities.

ArMee Infotech IPO Objectives

The company proposes to use the net IPO proceeds for the following purposes:

The largest identified allocation is toward expanding the business by procuring new government and PSU projects. Another significant portion is earmarked for working capital, which can support the company's project execution requirements.

ArMee Infotech Financial Performance

₹ crore

The company's total income increased from ₹1,315.78 crore in FY25 to ₹1,410.09 crore in FY26, while PAT increased from ₹41.67 crore to ₹45.47 crore.
However, PAT in FY26 remained below the ₹50.13 crore recorded in FY24. Borrowings also increased significantly to ₹174.36 crore in FY26 from ₹48.10 crore in FY25.

ArMee Infotech Key Financial Ratios

The company reported a 28.52% ROE and 24.10% ROCE in FY26. Its PAT margin stood at 3.26%, while EBITDA margin was 5.42%.

ArMee Infotech IPO Valuation

Based on the supplied figures, the post-IPO P/E is 26.17x, compared with 19.57x on the pre-IPO basis.
The supplied data also shows promoter holding falling from 92.72% to 0% post issue.

ArMee Infotech Promoter Holding

The promoters listed in the supplied IPO information are:

• Ami Ridhish Patel
• Kiritkumar Chimanbhai Patel
• Ridhish Kiritbhai Patel

The supplied valuation data reports promoter holding of 92.72% before the IPO and 0% after the IPO.

ArMee Infotech IPO Peer Comparison

The peer set includes companies operating across IT services, technology solutions and renewable energy-related businesses. ArMee Infotech's FY26 RoNW of 24.96% is higher than KPI Green Energy's 16.14% and close to Dynacons Systems & Solutions' 26.90%, based on the supplied figures.

Competitive Strengths

• Established operations since 2003.
• Presence across IT infrastructure and managed services.
• Exposure to government and PSU projects.
• Diversification across IT, retail and renewable energy.
• Large employee base of 1,772.
• Strong FY26 ROE and ROCE.
• Growing revenue and PAT between FY25 and FY26.
• Expansion opportunity through new government and PSU projects.

Risks Investors Should Consider

• Revenue concentration in Gujarat is significant, with the state contributing 39.72% of revenue as of September 30, 2024.
• Total borrowings increased to ₹174.36 crore in FY26.
• PAT margin remains relatively low at 3.26%.
• Government and PSU project execution can involve long project cycles and working-capital requirements.
• The company operates across several business areas, which may increase operational complexity.
• The post-IPO P/E of 26.17x is higher than the supplied pre-IPO P/E of 19.57x.

Should You Invest in ArMee Infotech IPO?

ArMee Infotech's IPO presents a combination of IT infrastructure, managed services and renewable-energy exposure, with a substantial portion of the proposed proceeds directed toward expanding government and PSU business.

The financial profile shows FY26 revenue of ₹1,410.09 crore and PAT of ₹45.47 crore, along with ROE of 28.52% and ROCE of 24.10%. At the same time, investors should consider the company's relatively low PAT margin, higher borrowings and dependence on project execution.

The IPO is entirely a fresh issue, meaning the company is raising ₹300 crore of new capital. Investors evaluating the issue can compare its valuation, financial performance, project pipeline, debt position and future growth opportunities with the peer set before making a decision.

ArMee Infotech IPO Allotment Status

The tentative basis of allotment date is September 28, 2026.

After allotment, investors can check their status through the IPO registrar, Cameo Corporate Services Ltd., using details such as PAN or application information.

The tentative schedule is:

• Allotment: September 28
• Refunds: September 29
• Demat credit: September 29
• Listing: September 30

ArMee Infotech IPO Registrar

Cameo Corporate Services Ltd.

Subramanian Building
#1, Club House Road

• Website: https://ipo.cameoindia.com/
• Phone: 044-28460390 / 044-28460391 / 044-28460392
• Email: ArMee@cameoindia.com

ArMee Infotech IPO Lead Managers

The book-running lead managers are:

• Saffron Capital Advisors Pvt. Ltd.
• Khandwala Securities Ltd.

ArMee Infotech Company Details

• Company: ArMee Infotech Ltd.
• Registered Office: ArMee House, 17, Goyal Intercity, Goyal Intercity Row House, Thaltej, Thaltej Road, Ahmedabad, Gujarat – 380054
• Website: https://www.armeeinfotech.com/
• Phone: +91 79 4911 4911
• Email: cs@armeeinfotech.com

ArMee Infotech IPO Summary

ArMee Infotech IPO is a ₹300 crore fresh issue opening from September 23 to September 25, 2026, with a price band of ₹350–₹375 per share and a lot size of 40 shares.

 The minimum retail investment at the upper band is ₹15,000. The company provides IT infrastructure solutions, managed services, retail technology products and renewable-energy services, with significant exposure to government and PSU projects. FY26 total income stood at ₹1,410.09 crore and PAT at ₹45.47 crore.

 The company reported ROE of 28.52% and ROCE of 24.10%, while total borrowings stood at ₹174.36 crore. The IPO proceeds are primarily planned for business expansion, working capital and debt repayment. As of September 19, the reported GMP is ₹0, implying an indicative listing price of ₹375 based on the current grey-market indication.

ArMee Infotech IPO FAQs

What is the ArMee Infotech IPO size?

The total IPO size is ₹300 crore, consisting entirely of a fresh issue.

What is the ArMee Infotech IPO price band?

The price band is ₹350 to ₹375 per share.

What is the ArMee Infotech IPO lot size?

The minimum lot size is 40 shares, requiring ₹15,000 at the upper price band.

When will ArMee Infotech IPO open and close?

The IPO will open on September 23, 2026 and close on September 25, 2026.

What is the ArMee Infotech IPO listing date?

The tentative listing date is September 30, 2026 on BSE and NSE.

What is the ArMee Infotech IPO GMP today?

As of September 19, 2026, the reported GMP is ₹0. GMP is indicative and can change before listing.

Who is the registrar of ArMee Infotech IPO?

Cameo Corporate Services Ltd. is the registrar for the IPO.

What does ArMee Infotech do?

ArMee Infotech provides IT infrastructure solutions, managed services, retail technology products and renewable-energy solutions, including solar EPC projects.

Disclaimer: This article is for informational purposes only and should not be considered investment advice. IPO details, GMP, subscription figures, financial information and tentative dates may change. Investors should refer to the official offer documents and conduct independent due diligence before making any investment decision.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.