Company proposes to raise up to ₹300 crore through a fresh issue; proceeds to support business expansion, working capital and debt repayment
Ahmedabad: ArMee Infotech Limited, an integrated technology infrastructure and renewable energy company, has announced that its Initial Public Offering (IPO) will open for subscription on Wednesday, September 23, 2026. The IPO will close on Friday, September 25, 2026, while the bidding date for anchor investors is scheduled for Tuesday, September 22, 2026. The company intends to list its equity shares on the BSE and NSE.
The price band has been fixed at ₹350 to ₹375 per equity share. The IPO comprises a fresh issue of equity shares with a face value of ₹10 each, aggregating up to ₹30,000 lakh (₹300 crore) through the book-building route. Investors can bid for a minimum of 40 equity shares and in multiples of 40 shares thereafter. Khandwala Securities Limited and Saffron Capital Advisors Private Limited are the Book Running Lead Managers to the issue, while Cameo Corporate Services Limited is the Registrar to the Issue.
IPO Proceeds to Fund Expansion and Working Capital
According to the Red Herring Prospectus, ArMee Infotech Limited intends to utilise ₹155 crore from the issue proceeds for securing Performance Bank Guarantees (PBGs) to support business expansion. The company proposes to deploy a further ₹60 crore towards working capital requirements and ₹6.50 crore towards prepayment or repayment of certain outstanding borrowings. The balance amount is proposed to be utilised for general corporate purposes and issue expenses.
IPO Allocation Structure
As stated in the issue documents, not more than 25% of the issue will be available for allocation to Qualified Institutional Buyers (QIBs) on a proportionate basis. Up to 60% of the QIB portion has been reserved for anchor investors. Not less than 22.50% of the issue will be available for allocation to Non-Institutional Investors, while not less than 52.50% will be available for Retail Individual Bidders.
Diversified Technology and Renewable Energy Business
ArMee Infotech operates in the IT infrastructure and IT managed services segment and has expanded into retail through its Experience Zones, which are engaged in the sale of IT products, consumer electronics, gaming and merchandise. The company also operates in the renewable energy sector, with activities spanning engineering, procurement and construction (EPC) of solar power projects, development of solar power projects under Power Purchase Agreements (PPAs), and Battery Energy Storage Systems (BESS). The company serves government departments, public sector undertakings (PSUs) and private-sector clients, with its customers operating across a range of industries. ArMee Infotech has a presence across 14 states in India and projects spanning multiple sectors.
IT Infrastructure and Managed Services
Under its IT Infrastructure business, ArMee Infotech provides IT hardware and software solutions, including computers, servers, interactive panels and peripherals. Its services also include installation and integration of hardware and software according to client requirements, as well as maintenance of installed IT infrastructure under relevant contracts.
Focus on Solar Energy and Battery Storage
The company’s renewable energy PPA business involves the development, ownership, operation and maintenance of solar power assets under long-term arrangements. Under these agreements, electricity generated by the solar assets is supplied at predetermined tariffs for specified durations. In the BESS segment, ArMee Infotech enters into long-term contracts for the supply of energy from its battery storage systems at predetermined rates and is also responsible for the operation and maintenance of BESS plants.
Pan-India Presence and Workforce
As of June 30, 2026, ArMee Infotech had 263 employees, including 219 skilled and semi-skilled technical personnel involved in project implementation and management. The company also engaged 1,648 contractual employees through third-party service providers based on project requirements.
Management Experience
The company is led by a management team with experience in the IT and renewable energy sectors. Promoters Kiritkumar Chimanbhai Patel and Ami Ridhish Patel have been associated with the company since its inception and have more than two decades of experience. Ridhish Kiritbhai Patel, who joined the company’s operations as an Executive Director in 2012, has more than a decade of experience.
Financial Performance
On a consolidated basis, ArMee Infotech Limited reported revenue from operations of ₹1,396.62 crore and profit after tax (PAT) of ₹45.47 crore in FY2025-26. This compares with revenue from operations of ₹1,313.31 crore and PAT of ₹41.67 crore in FY2024-25.
ArMee Infotech IPO: Key Details
| Particular | Details |
|---|---|
| IPO Opens | September 23, 2026 |
| IPO Closes | September 25, 2026 |
| Anchor Investor Bidding | September 22, 2026 |
| Price Band | ₹350 – ₹375 per share |
| Face Value | ₹10 per share |
| Issue Size | Up to ₹300 crore |
| Issue Type | Fresh Issue |
| Minimum Bid | 40 Equity Shares |
| Listing | BSE & NSE |
| Book Running Lead Managers | Khandwala Securities Limited; Saffron Capital Advisors Private Limited |
| Registrar | Cameo Corporate Services Limited |
The above information is based on the company’s media note and Red Herring Prospectus. The company has stated that the proposed IPO remains subject to applicable statutory and regulatory requirements, requisite approvals, market conditions and other considerations.