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Subscription Status · Jan 14 – Jan 19, 2026 · ₹55–57
Armour Security India Limited IPO subscribed 1.87 times — as of Jan 19, 2026
The Armour Security India Limited IPO subscription has recorded adequate investor demand with an overall subscription of 1.87× as of Jan 19, 2026, indicating that investors applied for 1.87 times the number of shares on offer. All investor categories — institutional, HNI, and retail — have participated actively, making this one of the closely watched IPO openings.
As of January 19, 2026
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
46,000 | 46,000 |
1.00×
|
1 |
|
NII
Non-Institutional Investors
|
2,190,000 | 2,604,000 |
1.19×
|
105 |
|
bNII
Bids above ₹10L
|
1,460,000 | 1,930,000 |
1.32×
|
15 |
|
sNII
Bids below ₹10L
|
730,000 | 674,000 |
0.92×
|
90 |
|
Individual
Individual Investors
|
2,180,000 | 5,624,000 |
2.58×
|
1,406 |
|
Total
|
4,416,000 | 8,274,000 |
1.87×
|
1,617 |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 46,000 | 46,000 | 1.00× | 1 |
| NII | 2,190,000 | 2,604,000 | 1.19× | 105 |
| bNII | 1,460,000 | 1,930,000 | 1.32× | 15 |
| sNII | 730,000 | 674,000 | 0.92× | 90 |
| Individual Investors | 2,180,000 | 5,624,000 | 2.58× | 1,406 |
| Total | 4,416,000 | 8,274,000 | 1.87× | 1,617 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 46,000 | 46,000 | 1.00× | 1 |
| NII | 2,190,000 | 2,604,000 | 1.19× | 105 |
| bNII | 1,460,000 | 1,930,000 | 1.32× | 15 |
| sNII | 730,000 | 674,000 | 0.92× | 90 |
| Retail | 2,180,000 | 152,000 | 0.07× | — |
| Individual Investors | 2,180,000 | 5,608,000 | 2.57× | 1,402 |
| Total | 6,596,000 | 8,410,000 | 1.28× | 1,613 |
As of January 19, 2026, the Armour Security India Limited IPO has been subscribed 1.87 times overall. The IPO is fully subscribed. A total of 1,617 applications received across all categories.
The Armour Security India Limited IPO subscription window was open from January 14, 2026 to January 19, 2026. Investors could apply through their demat account or ASBA facility.
The Armour Security India Limited IPO has a price band of ₹55 to ₹57 per share, with a lot size of 2,000 shares. Minimum retail investment: ₹110,000 (lower band) or ₹114,000 (upper band).
The QIB category has been subscribed 1.00 times. QIBs were offered 46,000 shares.
Overall NII: 1.19×. bNII (>₹10L): 1.32×, sNII (<₹10L): 0.92×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on January 20, 2026. Check via the registrar's website — Skyline Financial Services Pvt.Ltd. using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Armour Security India Limited IPO is expected to list on January 22, 2026. Shares will list on NSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 1.87× means investors have bid for 1.87 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares — allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of data pending, the estimated allotment probability for retail investors is Good. Decent chance of full allotment. If final subscription stays below 1×, all applicants are likely to get full allotment.
You can apply for Armour Security India Limited IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Jan 14 to Jan 19, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Armour Security India Limited IPO GMP data, check the IPO Rise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price — use it only as a sentiment signal alongside official subscription data.
The Armour Security India Limited IPO subscription tracks how many times each investor category has subscribed relative to their reserved quota. As of Jan 19, 2026, the overall subscription stands at 1.87× — Fully Subscribed.
QIBs include domestic mutual funds, FIIs/FPIs, banks, insurance companies, and SEBI-registered venture capital funds. They are allocated up to 50% of the net offer (75% for SME IPOs). For Armour Security India Limited IPO, QIB subscription is at 1.00×. High QIB subscription signals strong institutional conviction and is considered a positive indicator for post-listing performance.
NIIs are high-net-worth individuals (HNIs) and corporate bodies applying for more than ₹2 lakh. SEBI further divides this into bNII (bids above ₹10 lakh) and sNII (bids between ₹2–10 lakh), each with a separate allotment bucket. For Armour Security India Limited IPO: bNII at 1.32×, sNII at 0.92×. Very high NII subscription (>50×) often signals leveraged HNI bidding, suggesting a strong listing expectation.
Retail investors apply for up to ₹2 lakh. They are reserved 35% of the net offer (in most mainboard IPOs). If oversubscribed, allotment is via computerised lottery — each applicant (regardless of lot count) has an equal probability.
Price band: ₹55–₹57 per share. Lot size: 2,000 shares. Minimum retail investment at upper band: ₹114,000. Applications must be in multiples of 2,000 shares.
Stock exchanges (BSE/NSE) publish subscription data multiple times a day during the subscription window. The figures shown here represent the latest available snapshot. "Shares Offered" is the quota reserved for each category; "Shares Bid For" is the total demand received; "Times Subscribed" is the ratio of demand to supply.
Subscription Opens Done
Jan 14, 2026Subscription Closes Done
Jan 19, 2026Basis of Allotment Done
Jan 20, 2026Listing on NSE Done
Jan 22, 2026Decent chance of full allotment.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.