Mumbai, Sept. 26 -- The initial public offer (IPO) of ArMee Infotech was subscribed 2.62 times on the first day of bidding on 26 September 2026. The issue received bids for 1,81,59,240 shares against 74,30,356 shares on offer.

The IPO opened for subscription on 23 September 2026 and closed on 25 September 2026. The price band has been fixed at Rs 350 to Rs 375 per share. The equity shares are proposed to be listed on the BSE and NSE.

The IPO is entirely a fresh issue of shares worth Rs 300 crore, with no offer-for-sale component. The post-issue promoter and promoter group shareholding is expected to stand at 69.35%.

The company plans to use Rs 155 crore from the IPO proceeds to secure performance bank guarantees for business expansion....