Armee Infotech IPO: According to the draft papers, Rs 160 crore of the IPO proceeds will be used primarily to meet its working capital requirements. In addition, Rs. 10.63 crore will be used for repayment of loans Armee Infotech IPO: According to the draft papers, Rs 160 crore of the IPO proceeds will be used primarily to meet its working capital requirements. In addition, Rs. 10.63 crore will be used for repayment of loans