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What is the story about?
Shares of Gujarat-based IT infrastructure and services provider ArMee Infotech are set to debut on the bourses on Wednesday, September 30, after its ₹300-crore initial public offering (IPO) was subscribed 2.44 times during the three-day bidding period.
The issue received bids across all investor categories, with the qualified institutional buyers (QIBs) portion subscribed 3.20 times. The non-institutional investor (NII) category was subscribed 2.24 times, while the retail portion received 2.65 times subscription.
ArMee Infotech had fixed the IPO price band at ₹350-₹375 per equity share. At the upper end of the price band, the company raised ₹300 crore through the public issue. The IPO comprised entirely a fresh issue of shares and had no offer-for-sale (OFS) component.
Ahead of the listing, the grey market premium (GMP) for ArMee Infotech stood at around ₹6 as of the morning of September 30. Based on the upper end of the IPO price band of ₹375, the GMP indicates an estimated listing price of around ₹381, implying a premium of approximately 1.6% over the issue price.
However, GMP is an unofficial indicator based on activity in the grey market and can fluctuate before listing. It does not guarantee the actual listing price or post-listing returns.
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.
How will ArMee Infotech use the IPO proceeds?
ArMee Infotech plans to use ₹155 crore of the net fresh issue proceeds to secure performance bank guarantees (PBGs) for business expansion. Another ₹60 crore will be used to meet working capital requirements.
A further ₹6.5 crore will be used to repay certain debt, while the remaining proceeds will be deployed towards general corporate purposes.
About ArMee Infotech
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. It also undertakes installation, integration and maintenance of hardware and software.
Under IT managed services, ArMee Infotech provides technical manpower, skill-development training and annual maintenance services.
The company also operates in renewable energy, providing engineering, procurement and construction (EPC) services for solar power projects. It develops solar power projects under power purchase agreements (PPAs) and undertakes Battery Energy Storage System (BESS) projects.
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%.
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.
Revenue rose 6.3% to ₹1,396.6 crore in FY26 from ₹1,313.3 crore in FY25.
The issue received bids across all investor categories, with the qualified institutional buyers (QIBs) portion subscribed 3.20 times. The non-institutional investor (NII) category was subscribed 2.24 times, while the retail portion received 2.65 times subscription.
ArMee Infotech had fixed the IPO price band at ₹350-₹375 per equity share. At the upper end of the price band, the company raised ₹300 crore through the public issue. The IPO comprised entirely a fresh issue of shares and had no offer-for-sale (OFS) component.
Ahead of the listing, the grey market premium (GMP) for ArMee Infotech stood at around ₹6 as of the morning of September 30. Based on the upper end of the IPO price band of ₹375, the GMP indicates an estimated listing price of around ₹381, implying a premium of approximately 1.6% over the issue price.
However, GMP is an unofficial indicator based on activity in the grey market and can fluctuate before listing. It does not guarantee the actual listing price or post-listing returns.
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.
How will ArMee Infotech use the IPO proceeds?
ArMee Infotech plans to use ₹155 crore of the net fresh issue proceeds to secure performance bank guarantees (PBGs) for business expansion. Another ₹60 crore will be used to meet working capital requirements.
A further ₹6.5 crore will be used to repay certain debt, while the remaining proceeds will be deployed towards general corporate purposes.
About ArMee Infotech
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. It also undertakes installation, integration and maintenance of hardware and software.
Under IT managed services, ArMee Infotech provides technical manpower, skill-development training and annual maintenance services.
The company also operates in renewable energy, providing engineering, procurement and construction (EPC) services for solar power projects. It develops solar power projects under power purchase agreements (PPAs) and undertakes Battery Energy Storage System (BESS) projects.
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%.
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.
Revenue rose 6.3% to ₹1,396.6 crore in FY26 from ₹1,313.3 crore in FY25.
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