Armee Infotech Files DRHP to Raise Rs 250 Crore Via IPO Route

Armee Infotech Limited, a Gujarat-based IT infrastructure solution provider, has filed DRHP (IPO papers) with the Securities Exchange Board of India. Armee Infotech aims to raise Rs 250 crore through an initial public offering. 

Summary of Armee Infotech Limited

Armee Infotech is an IT Infrastructure solutions and IT managed services company headquartered in Ahmedabad, Gujarat. The company is sector-agnostic and services a wide variety of projects for both government PSUs and the private sector, with a focus on PSU projects. The range of projects undertaken in the company includes the supply and installation of Tech hardware and software.

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Summary of IT Industry

The IT industry is pivotal in driving India's overall economic growth. The industry contributed 7.5% to India's GDP in FY 2023, up from 7.4% in FY 2022. The IT industry added an impressive 3.2 lakh new jobs in FY 2023, totalling 5.72 million people. IT infrastructure services provide the foundation for India's digital transformation by building and managing data centers, networks, and cloud platforms. 

This ensures internet access, which is critical for connecting citizens, businesses, and government entities. IT Infrastructure Management Services encompass a range of services focused on planning, designing, implementing, operating, and maintaining an organization's IT infrastructure.  

Objectives of Armee Infotech IPO

The proceeds from the IPO will be used for Rs 160 crore to meet the company's working capital needs, Rs 10.63 crore for repaying outstanding debts, and the remaining funds will support various corporate needs.

Financials of Armee Infotech Limited (Amt in Lakhs)

Armee Infotech Limited reported a revenue of Rs 51,567.42 lakhs and net profit of 1657.46 lakhs for the year ending on 31st Mar 2023. Earlier, on 31 March 2022, the company  reported a revenue of Rs 12,744.90 lakhs and net profit of 336.41 lakhs. 

Promoters of Armee Infotech Limited

Armee Infotech Limited promoters are Ami Ridhish Patel, Kiritkumar Chimanbhai Patel and Ridhish Kiritbhai Patel.

Registrar and Lead Managers of the Armee Infotech

Cameo Corporate Services Limited is the registrar for this upcoming IPO issue. Khandwala Securities Limited and Saffron Capital Advisors Private Limited are the book-running lead managers.

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