ArMee Infotech To Launch ₹300-Crore IPO On 23 September At ₹350-375 Per Share
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ArMee Infotech will open its ₹300-crore IPO on 23 September at a price band of ₹350-375 per share. The company plans to use most of the proceeds for performance bank guarantees, working capital and debt repayment.
ArMee Infotech has fixed the price band for its upcoming initial public offering (IPO) at ₹350-375 per share. The Ahmedabad-based IT infrastructure and services company plans to raise ₹300 crore through the public issue.
At the upper end of the ArMee Infotech IPO price band, the company would be valued at around ₹1,190 crore.
ArMee Infotech IPO will open for subscription on 23 September and close on 25 September. The anchor book will open a day earlier on 22 September.
The equity shares are scheduled to list on the stock exchanges on 30 September.
Retail Investors Can Bid For Up To ₹1.95 Lakh
The IPO is entirely a fresh issue, with no offer-for-sale component.
Qualified institutional buyers have been allocated up to 25% of the issue, while the non-institutional investor portion will account for 22.5%. Up to 52.5% of the issue has been reserved for retail investors.
The minimum bid size is 40 shares. At the lower end of the price band, this would require an investment of ₹14,000, while a bid at the upper end would cost ₹15,000.
Retail investors can bid for up to 520 shares, taking the maximum investment to ₹1.95 lakh at the upper end of the price band. Further bids can be placed in multiples of 40 shares.
Where ArMee Infotech Plans To Use IPO Funds
A large portion of the money raised will be used to support the company's expansion.
ArMee Infotech plans to set aside ₹155 crore for securing performance bank guarantees (PBGs) linked to new business. Another ₹60 crore will go towards working capital requirements, while ₹6.5 crore will be used to repay debt.
The remaining amount will be available for general corporate purposes.
About ArMee Infotech
ArMee Infotech provides IT infrastructure and managed services to customers. The company has also expanded into retail through experience zones that sell IT products, consumer electronics, gaming products and merchandise.
Its business also includes renewable energy services. The company undertakes engineering, procurement and construction (EPC) work and develops solar power projects under power purchase agreements. It is also involved in Battery Energy Storage System (BESS) projects.
Khandwala Securities and Saffron Capital Advisors are the book-running lead managers for the ArMee Infotech IPO.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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