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What is the story about?
Gujarat-based IT infrastructure and services provider ArMee Infotech has announced the price band for its initial public offering (IPO), which will open for subscription on September 23.
The company has fixed the IPO price band at ₹350-₹375 per equity share. Investors can bid for a minimum of 40 shares and in multiples thereof.
At the upper end of the price band, ArMee Infotech aims to raise ₹300 crore through the public issue. The IPO comprises entirely of a fresh issue of shares, with no offer-for-sale (OFS) component.
The anchor investor portion will open for bidding on September 22, while the public issue will remain open until September 25.
At the upper end of the price band, the company is expected to command a post-listing market capitalisation of ₹1,189.93 crore.
Of the total issue size, 25% has been reserved for qualified institutional buyers (QIBs), 22.5% for non-institutional investors (NIIs), and the remaining 52.5% for retail investors.
Use of IPO proceeds
ArMee Infotech intends to use ₹155 crore of the net fresh issue proceeds to secure performance bank guarantees (PBGs) for business expansion and ₹60 crore for working capital requirements.
A further ₹6.5 crore will be used to repay certain debt, while the remaining proceeds will be earmarked for general corporate purposes.
Business operations
ArMee Infotech operates across IT infrastructure, IT managed services and renewable energy.
Under its IT infrastructure segment, the company provides IT hardware and software, including computers, servers, interactive panels and peripherals. It also undertakes the 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 is also present in the renewable energy segment, where it provides engineering, procurement and construction (EPC) services for solar power projects, 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 FY26, while IT managed services accounted for more than 5% and renewable energy EPC contributed nearly 9%.
Financial performance
For the fiscal year ended March 2026, ArMee Infotech's profit increased 9.1% to ₹45.5 crore from ₹41.7 crore in the previous year.
Revenue increased 6.3% to ₹1,396.6 crore in FY26 from ₹1,313.3 crore in FY25.
ArMee Infotech filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in September 2025 after refiling the document. SEBI approved the draft offer document in February 2026.
Khandwala Securities and Saffron Capital Advisors have been appointed as merchant bankers to manage the ArMee Infotech IPO.
The IPO share allotment is likely to be finalised by September 28, while trading in ArMee Infotech shares is expected to begin on September 30.
ALSO READ | Hillhouse-backed Elevate Campuses sets IPO price band
The company has fixed the IPO price band at ₹350-₹375 per equity share. Investors can bid for a minimum of 40 shares and in multiples thereof.
At the upper end of the price band, ArMee Infotech aims to raise ₹300 crore through the public issue. The IPO comprises entirely of a fresh issue of shares, with no offer-for-sale (OFS) component.
The anchor investor portion will open for bidding on September 22, while the public issue will remain open until September 25.
At the upper end of the price band, the company is expected to command a post-listing market capitalisation of ₹1,189.93 crore.
Of the total issue size, 25% has been reserved for qualified institutional buyers (QIBs), 22.5% for non-institutional investors (NIIs), and the remaining 52.5% for retail investors.
Use of IPO proceeds
ArMee Infotech intends to use ₹155 crore of the net fresh issue proceeds to secure performance bank guarantees (PBGs) for business expansion and ₹60 crore for working capital requirements.
A further ₹6.5 crore will be used to repay certain debt, while the remaining proceeds will be earmarked for general corporate purposes.
Business operations
ArMee Infotech operates across IT infrastructure, IT managed services and renewable energy.
Under its IT infrastructure segment, the company provides IT hardware and software, including computers, servers, interactive panels and peripherals. It also undertakes the 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 is also present in the renewable energy segment, where it provides engineering, procurement and construction (EPC) services for solar power projects, 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 FY26, while IT managed services accounted for more than 5% and renewable energy EPC contributed nearly 9%.
Financial performance
For the fiscal year ended March 2026, ArMee Infotech's profit increased 9.1% to ₹45.5 crore from ₹41.7 crore in the previous year.
Revenue increased 6.3% to ₹1,396.6 crore in FY26 from ₹1,313.3 crore in FY25.
ArMee Infotech filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in September 2025 after refiling the document. SEBI approved the draft offer document in February 2026.
Khandwala Securities and Saffron Capital Advisors have been appointed as merchant bankers to manage the ArMee Infotech IPO.
The IPO share allotment is likely to be finalised by September 28, while trading in ArMee Infotech shares is expected to begin on September 30.
ALSO READ | Hillhouse-backed Elevate Campuses sets IPO price band
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