What is Armory's current shareholding pattern?

Founders (largest shareholder) own 54.35%, Funds own 22.42%, Enterprises own 1.09% and Angels own 0.11%.

What is the founders' net worth of Armory?

Armory's founders' net worth is 125Cr.

How much stake do funds have in Armory?

Funds hold 22.42% of Armory's total shareholding.

Armory - 2026 Latest Shareholding & Valuation

Founders own the majority of Armory's shares, accounting for 54.35%, while Fund hold 22.42%, ESOP hold 21.49%, Enterprise hold 1.09%, Other People hold 0.55% and Angel hold 0.11%. Armory's current valuation is ₹230Cr and the founders' net worth in Armory's shareholding is 125Cr. The cap table displayed below is for ARMORY SHIELD PRIVATE LIMITED which is the legal entity associated with Armory.

Here is the equity structure of Armory as per the latest Cap Tables:

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	54.35%	125Cr	9038679	2955537	1208979	7918583
Amardeep Singh	4834747	3844751	8322951	7939730	6898047	6566649
Fund	22.42%	51.6Cr	1015829	2320781	5964897	5985807
Antler	7293	2121	4211	2224	4440	8143
growX ventures	69	30	81	22	67	50
Industrial47	8	4	4	4	5	5
Enterprise	1.09%	2.5Cr	2	7	5	7
Angel	0.11%	25.3L	0	0	0	0
Other People	0.55%	1.26Cr	0	0	0	0
ESOP Pool	21.49%	49.4Cr	6661045	9147927	5683536	1241673
Total	100.00%	230Cr	6221322	9243850	2564187	5521451

Here is how Armory's shareholding has changed after each funding round:

Founder
Fund
Enterprise
Angel
Other People
ESOP Pool
Parent Entity
Other Investors

Shareholders	Seed Apr 09, 2025	Seed 2 May 05, 2025	Series A Mar 31, 2026
Founder	63.5%	59.5%	54.3%
Fund	10.8%	16.2%	22.4%
Parent Entity	-	-	-
Angel	-	0.1%	0.1%
Other People	0.6%	0.6%	0.5%
ESOP Pool	25.1%	23.5%	21.5%
Enterprise	-	-	1.1%
Other Investors	-	-	-
Total	100.0%	100.0%	100.0%