ArMee Infotech IPO

About the company

ArMee Infotech is an Ahmedabad-headquartered IT infrastructure and managed-services company that has diversified into retail experience zones and renewable energy. Its renewable portfolio spans engineering, procurement and construction (EPC), solar projects operated under power purchase agreements (PPAs), and battery energy storage systems (BESS). The company serves Government/PSU and private-sector clients, including private clients whose end users are government entities. The IT infrastructure business supplies hardware and software such as computers, servers, interactive panels and peripherals, along with installation, systems integration, maintenance and functional training. Projects include ICT laboratories, smart classrooms and digital infrastructure for public-distribution systems. This segment generated ₹1,198.49 crore, or 85.8% of FY26 consolidated revenue from operations. IT managed services, covering technical manpower, training, operational support and annual maintenance, contributed ₹73.44 crore, or 5.2%. Renewable Energy EPC provides end-to-end project assessment, design, procurement, construction, commissioning and handover of solar plants. The segment generated ₹124.70 crore, or 8.9% of FY26 revenue, with no corresponding revenue in FY24 or FY25. Under PPA and BESS projects, the company develops, operates and maintains assets while supplying power or stored energy at predetermined contractual rates. It also operates two Acer-exclusive experience zones in Ahmedabad. Government/PSU clients and private clients with Government/PSU end users accounted for ₹1,170.96 crore, or 83.84% of FY26 revenue. As of June 30, 2026, ArMee had 99 ongoing execution projects: 65 in IT infrastructure, 21 in managed services, 10 in renewable EPC, one PPA and two BESS projects. A further 464 projects remained within their warranty periods, generally lasting three to five years. The company has ₹2,663.44 crore order book as of June 30, 2026, led by renewable EPC at ₹1,377.26 crore, BESS at ₹595.18 crore and PPA at ₹381.60 crore. IT infrastructure and managed services contributed ₹166.26 crore and ₹143.14 crore, respectively. Of the 99 ongoing projects, 74 were in Gujarat and 11 in Maharashtra, with the balance spread across eight other states or territories. The company completed 116 Government/PSU projects in FY26, compared with 97 in FY25 and 62 in FY24. The company has participated in several Government-led programmes, including the E-gram Vishwagram project of the Government of Gujarat, Deen Dayal Upadhyaya Grameen Kaushalya Yojana of the Central Government, the Gyankunj digitisation programme of the Government of Gujarat and the Samagra Shiksha Abhiyan of the Central Government. Revenue remains spread across a few key states. In FY26, Maharashtra contributed 33.6% of revenue, followed by Tamil Nadu at 29.5% and Gujarat at 23.2%. Uttar Pradesh contributed 1.7% or ₹2,504.63 lakhs in FY26, compared with 23.33% in FY25. India’s technology industry is expected to exceed $315 billion of revenue in FY26, representing approximately 6.1% year-on-year growth. Overall Indian IT spending is projected at $176,365 million in 2026, up 10.6%, while IT-services spending is forecast to grow 11.1% to $35,383 million, supported by cloud migration, AI infrastructure, cybersecurity and application modernisation. India’s installed solar capacity increased from 35.6 GW in FY20 to 150.3 GW in FY26, a 27.1% CAGR, and reached 164.59 GW in July 2026. ArMee Infotech plans to expand its product and service offerings beyond its existing IT infrastructure and managed services businesses. Key areas include Experience Zones, payment devices, data migration, STEM labs and Atal Tinkering Labs (ATLs). The company expects Experience Zones to benefit from increasing urbanization and rising living standards, which can drive demand for more engaging retail experiences. Digital transactions in India reached 28,174 crore in FY26, as per RBI data. The company also plans to expand its geographical presence while retaining its core focus on Gujarat and Maharashtra. It regularly participates in project tenders across multiple states and intends to build a pan-India presence. Now, ArMee Infotech is launching its initial public offering (IPO), which is acomplete fresh issue of ₹300 crore. Its shares will be listed on the NSE and BSE. ### **How to apply for ArMee Infotech IPO?** If you are interested in this investment opportunity but unsure how to apply for an ArMee Infotech IPO, follow these steps. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the ArMee Infotech IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘ArMee Infotech IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   23 Sept 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   25 Sept 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   28 Sept 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   29 Sept 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   29 Sept 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   30 Sept 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.