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To be declared

Fri, Oct 23, 2026

IPO Close

Tue, Oct 27, 2026

Price Band

₹88 to ₹93

Market Cap

₹192.35 Cr * on Upper Price

  • IPO Date
    23 to 27 Oct, 2026
  • Listing Date
    Fri, Oct 30, 2026(T)
  • Face Value
    ₹10 per share
  • Price Band
    ₹88 to ₹93
  • Lot Size
    1,200 Shares
  • Sale Type
    Fresh capital only
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    58,94,400 shares (agg. up to ₹55 Cr)
  • Reserved for Market Maker
    7,20,000 shares (agg. up to ₹7 Cr) Mansi Share & Stock Broking Pvt.Ltd.
  • Fresh Issue (Ex Market Maker)
    51,74,400 shares (agg. up to ₹48 Cr)
  • Net Offered to Public
    51,74,400 shares (agg. up to ₹48 Cr)
  • Share Holding Pre Issue
    1,47,88,845 shares
  • Share Holding Post Issue
    2,06,83,245 shares

IPO Timetable (Tentative)

  • IPO Open
    Fri, Oct 23, 2026
  • Allotment
    Wed, Oct 28, 2026
  • Credit of Shares
    Thu, Oct 29, 2026
  • IPO Close
    Tue, Oct 27, 2026
  • Refund
    Thu, Oct 29, 2026
  • Listing
    Fri, Oct 30, 2026

ssue Reservation

Investor Category Shares
QIB Not more than 50% of the Net Issue
Retail Not less than 35% of the Net Issue
NII Not less than 15% of the Net Issue

IPO Lot Size

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.

Application Lots Shares Amount
Individual investors (IND) (Min) 2 2400 ₹2,23,200
Individual investors (IND) (Max) 2 2400 ₹2,23,200
S-HNI (Min) 3 3600 ₹3,34,800
S-HNI (Max) 8 9600 ₹8,92,800
B-HNI (Min) 9 10800 ₹10,04,400

About Core4 Engineers Ltd.

Incorporated in June 2014, Core4 Engineers Limited is an Engineering, Procurement, Construction and Commissioning (“EPCC”) company providing integrated infrastructure solutions across railway infrastructure, power transmission and distribution, and water and wastewater treatment. The Company offers end-to-end project execution capabilities covering design, engineering, procurement, construction, installation, testing, commissioning and operations and maintenance.The Company operates through five business segments: railway electrification and infrastructure, Extra High Tension (“EHT”) transmission and distribution systems, water and wastewater treatment EPCC, automation and Supervisory Control and Data Acquisition (“SCADA”) systems, and supply of High-Tension (“HT”) and Low-Tension (“LT”) distribution panels and related services.

Its railway infrastructure activities include overhead electrification, traction substations, station redevelopment, civil works and allied signalling and telecommunication interfaces. In power transmission and distribution, it undertakes turnkey projects involving substations, transmission lines and distribution networks up to 220 kV. Its water and wastewater division provides solutions for water treatment plants, sewage treatment plants and effluent treatment plants, supported by automation and process control systems.

The Company also designs and implements PLC-based automation and SCADA systems for railway, power and water infrastructure projects. Its in-house manufacturing facility produces HT/LT distribution and control panels, including VCB, PCC, MCC, APFC and PLC-based automation panels, as well as compact substations. This manufacturing capability complements its EPCC operations by supporting customization, cost efficiency, quality control and timely project execution. The Company also undertakes subcontracting assignments, providing on-ground execution support for engineering and infrastructure projects.

The Company serves government organizations, public sector undertakings, utilities, infrastructure contractors and private enterprises across India. Its business model combines multidisciplinary project execution, in-house design and engineering capabilities, panel manufacturing and vendor partnerships to deliver integrated infrastructure solutions.

As of June 30, 2026, the Company had a total workforce of 462 personnel, comprising 62 employees on its payroll and 400 floating labourers engaged primarily for project execution.

Competitive Strengths

  • Integrated EPCC Capabilities.
  • Diversified Business Portfolio.
  • Experienced Project Workforce.
  • Technical and Execution Capabilities.
  • In-House Manufacturing Capabilities.
  • Presence Across Key Infrastructure Sectors.

Company Financials (Restated Consolidated)

Core4 Engineers Ltd.’s revenue increased by 165% and profit after tax (PAT) rose by 225% between the financial year ending with March 31, 2026 and March 31, 2025.   (Amount in ₹ Crore)

Period Ended 30 Jun 2026 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 145.43 116.32 67.12 31.97
Total Income 45.77 91.79 34.60 33.63
Profit After Tax 6.17 12.37 3.81 2.89
EBITDA 9.08 18.30 6.71 4.96
NET Worth 37.23 31.07 18.70 6.43
Reserves and Surplus 22.44 16.28 15.74 3.63
Total Borrowing 40.57 31.58 18.58 16.75

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IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • 1 Funding capital expenditure for the acquisition of a property comprising land and an existing building, proposed to be utilized for establishing and operating a new manufacturing facility and corporate office;
    4.12
  • 2 Funding incremental working capital requirements; and
    40.48
  • 3 General Corporate Purposes
  • Total
    44.60

Key Performance Indicator (KPI)

KPI Jun 30, 2026 Mar 31, 2026
ROE 18.06% 49.70%
ROCE 13.23% 37.78%
Debt/Equity 1.09 1.02
RoNW 16.56% 39.81%
PAT Margin 13.51% 13.54%
EBITDA Margin 19.90% 20.04%
NAV 25.18 21.01
P/B (x) 3.69 4.43

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 8.36 11.93
P/E (x) 11.12 7.8
Market Cap at Offer Price ₹137.54 Cr. ₹192.35 Cr.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 82.09% 58.69%
Public 17.91% 41.31%
Total 100% 100%

Company Promoters: Agrahara Chamaraje Gowda Abhinandan, Hosahalli Appagigowda Savitha, Mahadevappa Tejus and Anala.

Core4 Engineers IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

Purva Sharegistry (India) Pvt.Ltd.

IPO Lead Manager(s)

  1. Socradamus Capital Pvt.Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Core4 Engineers Ltd. Address
Mathrushree No. 12
1st Floor, Near Ramana Maharshi Gyana Kendra
Next to New court, K Block, Kuvempunagar
Mysuru, Karnataka, 570023

IPO FAQs

Core4 Engineers IPO is a SME IPO of 58,94,400 equity shares of the face value of ₹10 aggregating up to ₹55 Crores. The issue is priced at ₹88 to ₹93. The minimum order quantity is 1200.

The IPO opens on Fri, Oct 23, 2026, and closes on Tue, Oct 27, 2026.

Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Angel One customers can apply online in Core4 Engineers IPO using UPI as a payment gateway. Angel One customers can apply in Core4 Engineers IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Core4 Engineers IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Core4 Engineers IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Core4 Engineers IPO opens on Fri, Oct 23, 2026 and closes on Tue, Oct 27, 2026.

Core4 Engineers IPO lot size is 1200, and the minimum amount required for application is ₹2,23,200, with 2 lots being the minimum application size.

You can apply in Core4 Engineers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Core4 Engineers IPO will be done on Wednesday, October 28, 2026, and the allotted shares will be credited to your demat account by Thu, Oct 29, 2026. Check the Core4 Engineers IPO allotment status.

The Core4 Engineers IPO listing date is not yet announced. The tentative date of listing is Fri, Oct 30, 2026.

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