ArMee Infotech shares debut at 2% discount to IPO price on BSE

Shares of ArMee Infotech made a muted start on Wednesday, listing at a discount of up to 2% on the bourses. The stock opened at Rs 368.85 apiece on the BSE, down 1.64% from the issue price of Rs 375. On the NSE, shares of the company opened flat at the IPO price.

The listing was broadly in line with expectations in the unlisted market, where the stock was commanding a grey-market premium (GMP) of around 1% ahead of the debut.

The ArMee Infotech IPO comprised an entirely fresh issue of 80 lakh equity shares aggregating to Rs 300 crore, with no offer-for-sale (OFS) component.

The public issue opened for subscription on September 23, 2026, and closed on September 25, 2026. The IPO was subscribed 2.62 times overall. The retail portion was subscribed 2.65 times, while the qualified institutional buyer (QIB) category, excluding the anchor portion, was subscribed 3.20 times. The non-institutional investor (NII) category received 2.24 times subscription.

The company had fixed the IPO price band at Rs 350-375 per share, with a lot size of 40 shares. At the upper end of the price band, retail investors were required to invest a minimum of Rs 15,000 for one lot.

The basis of allotment was finalised on September 28, while the company’s shares are scheduled to list on both the NSE and BSE on September 30.

Khandwala Securities Ltd. and Saffron Capital Advisors Pvt. Ltd. are the book-running lead managers for the issue, while Cameo Corporate Services Ltd. is the registrar.

IPO proceeds

According to the company, the net proceeds from the IPO will be used for business expansion, working capital requirements, repayment or prepayment of certain borrowings and general corporate purposes.

The company has earmarked Rs 155 crore towards business expansion through the procurement of new government and public sector undertaking (PSU) projects. Another Rs 60 crore will be used to meet working capital requirements, while Rs 6.50 crore has been allocated for the prepayment or repayment of certain outstanding borrowings. The remaining proceeds will be utilised for general corporate purposes.

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ArMee Infotech financial performance

ArMee Infotech reported an improvement in both revenue and profit in FY26 compared with FY25. Total income rose from Rs 1,316 crore in FY25 to Rs 1,410 crore in FY26, representing growth of around 7%. Profit after tax (PAT) increased from Rs 42 crore in FY25 to Rs 45 crore in FY26, registering growth of around 9%.

About ArMee Infotech

Founded in 2003 and headquartered in Ahmedabad, Gujarat, ArMee Infotech Ltd. is an IT infrastructure solutions and managed services company. As part of the ArMee Group, the company provides end-to-end technology solutions to clients across sectors, including government, corporates, banking, financial services and insurance (BFSI), and education. The company has also diversified into retail sales and renewable energy, expanding its operations beyond its core IT infrastructure and managed services business.

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