Core4 Engineers IPO: Price Band, Lot Size, Financials & Review
Core4 Engineers IPO opens on Fri, 23 Oct 2026 and closes on Tue, 27 Oct 2026. The price band is ₹88 – ₹93 with a lot of 1200 shares, so one retail lot costs ₹2,23,200 at the upper band.
- Open Date
- 23 Oct 2026
- Close Date
- 27 Oct 2026
Last updated
- Price band
- ₹88 – ₹93
- Lot size
- 1,200 shares
- Min. investment
- ₹2,23,200
- Issue size
- ₹54.82 Cr
Core4 Engineers IPO details
Core4 Engineers IPO is a ₹54.82 Cr book-building IPO on the SME segment, listing on BSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue opens on Fri, 23 Oct 2026 and closes on Tue, 27 Oct 2026. Allotment is expected on Wed, 28 Oct 2026 and listing on Fri, 30 Oct 2026.
The price band is ₹88 to ₹93 per share and the lot size is 1200 shares, so the minimum retail application is ₹2,23,200. Retail investors can apply for up to 2 lots (2,400 shares, ₹2,23,200).
Purva Sharegistry India Pvt Ltd is the registrar, and Socradamus Capital Private Limited is the book running lead manager.
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Core4 Engineers IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,23,200 |
| Retail (Max) | 2 | 2,400 | ₹2,23,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,34,800 |
| S-HNI (Max) | 8 | 9,600 | ₹8,92,800 |
| B-HNI (Min) | 9 | 10,800 | ₹10,04,400 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹93, the issue is priced at 36.05x pre-issue earnings and 15.90x post-issue earnings per share.
Listed peers with positive earnings trade at a median P/E of 4.95x (1 company).
Promoter holding falls from 82.09% before the issue to 58.69% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹2.58 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 36.05x |
| EPS (post-issue) EPS on the enlarged share capital | ₹5.85 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 15.90x |
| Promoter holding (pre-issue) | 82.09% |
| Promoter holding (post-issue) | 58.69% |
Core4 Engineers Limited financials
Between 31 Mar 2024 and 31 Mar 2025, Income rose from ₹33.63 Cr to ₹34.6 Cr, and profit after tax rose from ₹2.89 Cr to ₹3.81 Cr. The PAT margin for 31 Mar 2025 was 11.01%.
| Period ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 77.35 | 68.10 | 31.99 |
| Total Income | 47.31 | 34.60 | 33.63 |
| Profit After Tax | 6.05 | 3.81 | 2.89 |
| Net Worth | 24.75 | 18.70 | 6.43 |
| Reserve & Surplus | 21.80 | 15.74 | 3.63 |
| Total Borrowings | 22.07 | 18.58 | 16.75 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 55.73 | 30.31 | 57.81 | 26.50 |
| ROCE % | 43.17 | 23.98 | 33.44 | 21.48 |
| Debt / Equity | 0.89 | 0.99 | 2.60 | 1.23 |
| RoNW % | 24.46 | 20.37 | 44.85 | 23.78 |
| Pat Margin % | 12.86 | 11.15 | 8.63 | 6.43 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Core4 Engineers Ltd | 10 | — | 2.59 | 2.59 | 20.37% | 12.72 |
| K2 Infragen Ltd | 10 | 4.95 | 9.16 | 9.16 | 15.12% | 60.50 |
Notes
The figures for the listed industry peers are based on the Audited Consolidated Financial Statements filed for the financial year ended March 31, 2025
P / E Ratio has been computed based on their respective closing market price on March 28, 2026, as divided by the Basic EPS as on March 31, 2025.
CMP is the closing prices or the last traded price of respective scripts as on March 28, 2026.
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 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 unit and corporate office | 4.12 |
| 2 | Funding incremental working capital requirements | 32.68 |
| 3 | General corporate purposes | — |
| Total | 36.8 |
About Core4 Engineers Limited
Incorporated in 2022, Core4 Engineers Ltd. 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 encompassing design, engineering, procurement, erection, testing, commissioning, and operation and maintenance (O&M).
The company operates an in-house manufacturing facility for High-Tension (HT) and Low-Tension (LT) electrical panels and compact substations, catering to both its internal EPC requirements and third-party customers. Its subsidiary, Core4 Energy Ltd., further strengthens the group's product portfolio and contributes to product-based revenue through the manufacturing of electrical distribution and control panels.
Core4 Engineers Ltd. undertakes projects for Indian Railways, public sector undertakings (PSUs), and infrastructure contractors. Its expertise spans railway electrification, substation development, power transmission and distribution, and water treatment systems. As of September 30, 2025, the company had a workforce of 433 personnel, comprising employees and project-based labour.
Business Verticals
1. Railway Electrification (RE)
The company undertakes turnkey railway electrification projects on an EPCC basis, including the installation of 25 kV overhead electrification (OHE) systems, traction substations, and associated railway electrical infrastructure.
2. Railway Infrastructure
This vertical encompasses composite civil, electrical, and mechanical works for railway infrastructure development, including station redevelopment, modernization, and associated infrastructure improvement projects.
3. Extra-High-Tension (EHT) Transmission and Distribution
The company executes turnkey power transmission and distribution projects up to 220 kV, covering substation development, transformer installation, and associated electrical distribution infrastructure.
4. Water and Wastewater Treatment
Core4 Engineers Ltd. provides EPCC solutions for water treatment plants (WTPs), sewage treatment plants (STPs), and effluent treatment plants (ETPs). Its capabilities include the implementation of treatment technologies such as Moving Bed Biofilm Reactor (MBBR) and Sequencing Batch Reactor (SBR).
5. Automation and SCADA Systems
The company provides PLC-based automation, supervisory control and data acquisition (SCADA), monitoring, and control solutions to support efficient operation and management of infrastructure and industrial systems.
6. HT/LT Electrical Panel Manufacturing
Through its in-house manufacturing capabilities and subsidiary, the company manufactures and supplies a range of electrical panels, including Power Control Centre (PCC), Motor Control Centre (MCC), Automatic Power Factor Correction (APFC), and automation panels. These products cater to the requirements of infrastructure projects as well as external customers.
Promoters
- Agrahara Chamaraje Gowda Abhinandan
- Hosahalli Appagigowda Savitha
- Mahadevappa Tejus
- Anala
Contact details
Core4 Engineers Ltd.
Mathrushree No. 12,
1st Floor, Near Ramana Maharshi Gyana Kendra,
Next to New court, K Block, Kuvempunagar
Mysuru, Karnataka, 570023
Telephone: 0821 4507882
Email:investor@core4grp.com
Website:https://core4engineers.com/
Core4 Engineers IPO FAQs
- What is the Core4 Engineers IPO price band?
- The Core4 Engineers IPO price band is ₹88 to ₹93 per share.
- What is the Core4 Engineers IPO lot size and minimum investment?
- The Core4 Engineers IPO lot size is 1200 shares. The minimum retail investment is ₹2,23,200 for one lot at the upper price band. Retail investors can apply for up to 2 lots (2,400 shares), costing ₹2,23,200.
- When does Core4 Engineers IPO open and close?
- Core4 Engineers IPO opens on Fri, 23 Oct 2026 and closes on Tue, 27 Oct 2026.
- What is the Core4 Engineers IPO allotment date?
- The Core4 Engineers IPO basis of allotment is expected on Wed, 28 Oct 2026. You can check your allotment status on the Purva Sharegistry India Pvt Ltd website.
- What is the Core4 Engineers IPO listing date?
- Core4 Engineers IPO is expected to list on BSE on Fri, 30 Oct 2026.
- Is the Core4 Engineers IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Core4 Engineers IPO?
- The registrar for the Core4 Engineers IPO is Purva Sharegistry India Pvt Ltd, and the book running lead manager is Socradamus Capital Private Limited.
- How to apply for the Core4 Engineers IPO?
- Apply through your broker app or net banking using UPI or ASBA. Select the IPO, enter the number of lots and your bid (retail investors can bid at the cut-off price), and approve the UPI mandate before the issue closes on Tue, 27 Oct 2026.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.