Armour Security (India) Ltd is launching an Initial Public Offering (IPO) with up to 46,50,000 equity shares at Rs. 57 per share, aiming to raise Rs. 26.51 crore. The issue includes a reservation for a market maker and constitutes 27.56% of the company's post-issue capital. The price band is set between Rs. 55 and Rs. 57 per share, with a minimum bid of 4000 shares.