About the Business
Founded in 2003 and headquartered in Ahmedabad, Gujarat, ArMee Infotech Limited (AIL) is an established IT infrastructure solutions and managed services provider. As part of the ArMee Group, the company delivers end-to-end technology solutions across government departments, public sector undertakings (PSUs), corporates, banking, financial services and insurance (BFSI), and education sectors.
The company has diversified its service offerings into consumer retail electronics and renewable energy engineering:
- IT Infrastructure: Provides IT hardware and enterprise software along with end-to-end installation, integration, maintenance, and related support services.
- IT Managed Services: Offers deputation of technical manpower, skill development and training, and annual maintenance contracts (AMC).
- Retail Sales: Operates physical Experience Zones focused on IT products, consumer electronics, gaming rigs, and related merchandise.
- Renewable Energy & BESS: Undertakes solar engineering, procurement, and construction (EPC) projects, develops solar power projects under Power Purchase Agreements (PPAs), and executes Battery Energy Storage System (BESS) installations.
- Execution Scale: As of June 30, 2026, the company had 99 ongoing projects (65 in IT Infrastructure, 21 in IT Managed Services, 10 in Renewable Energy EPC, 1 in Renewable Energy PPA, and 2 in Renewable Energy BESS).
- Geographic Footprint: Out of 99 ongoing projects, 74 are based in Gujarat, 11 in Maharashtra, 2 each in Bihar, Andhra Pradesh, Uttar Pradesh, Madhya Pradesh, and Rajasthan, and 1 each in Telangana, Tamil Nadu, Uttarakhand, and New Delhi.
- Workforce: 263 permanent employees (including 219 skilled and semi-skilled technical professionals) alongside 1,648 contractual personnel engaged across projects as of June 30, 2026.
The company’s promoters are Ami Ridhish Patel, Kiritkumar Chimanbhai Patel, and Ridhish Kiritbhai Patel.
Company Financials (Restated Consolidated)
ArMee Infotech Ltd.’s revenue increased by 7% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 958.87 | 828.54 | 673.50 |
| Total Income | 1,410.09 | 1,315.78 | 1,023.99 |
| Profit After Tax | 45.47 | 41.67 | 50.13 |
| EBITDA | 75.64 | 58.64 | 71.58 |
| NET Worth | 182.18 | 136.67 | 95.18 |
| Total Borrowing | 174.36 | 48.10 | 27.26 |
Amount in ₹ Crore
Key Performance Indicator (KPI)
Issue Reservation
| Investor Category | Allocation Limit |
|---|---|
| Retail (RII) Shares Offered | Not less than 52.50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 22.50% of the Net Issue |
| QIB Shares Offered | Not more than 25.00% of the Net Issue |
IPO Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Expansion of business by procuring new Government/PSU projects ₹155.00 Cr
- Funding working capital requirements ₹60.00 Cr
- Prepayment or repayment of certain outstanding borrowings availed by the Company ₹6.50 Cr
- General Corporate Purposes Balance
ArMee Infotech Limited possesses over two decades of enterprise execution pedigree in system integration, enterprise hardware procurement, and managed IT services, with significant government and PSU client exposure. The company’s expansion into utility-scale solar EPC, battery energy storage systems (BESS), and technology retail creates a complementary operational footprint.
Revenues have steadily trended upward to ₹1,410.09 Cr in FY26 with a profit after tax of ₹45.47 Cr. The offering is structured as a 100% primary issuance of ₹300 Cr, ensuring that all net proceeds flow directly into procuring larger government/PSU contracts (₹155 Cr) and meeting working capital requirements (₹60 Cr) without promoter dilution via OFS. At the upper price band of ₹375, the stock trades at a post-IPO P/E of 26.17x against a market capitalization of ₹1,189.93 Cr. With an investor-friendly retail allocation of 52.50%, investors seeking exposure to government digitization and energy transition infrastructure can evaluate the issue with a medium-to-long-term view.
