- Summary
- The Core4 Engineers IPO is a book-building SME IPO, scheduled to open on 23 October 2026 and close on 27 October 2026.
- The tentative listing of the IPO shares is fixed on 30 October 2026 on the BSE SME platform.
- The price band of the share is fixed at ₹88 to ₹93 per share, with a minimum application of 2 lots (2,400 shares).
The Core4 Engineers IPO is a book-built SME IPO that is scheduled to open for subscription on 23 October 2026 and close on 27 October 2026. The company is offering 58,94,400 fresh equity shares at a price band of ₹88 to ₹93 per share. The face value of each share is ₹10, and the IPO will be listed on the BSE SME platform. The minimum application is for 2 lots, or 2,400 shares, requiring an investment of ₹2,23,200 at the upper price band. The tentative allotment date is 28 October 2026, and the shares are expected to list on 30 October 2026.
Core4 Engineers IPO Key Details
The table below presents the essential details investors should know before applying for the Core4 Engineers IPO.
| IPO Open Date | 23 October 2026 |
| Close Date | 27 October 2026 |
| Face value | ₹10 per share |
| Issue Price Band | ₹88 to ₹93 per share |
| IPO Lot Size | 1,200 shares |
| Fresh issue | 58,94,400 shares |
| Offer for Sale | _ |
| Type of issue | SME book-built |
| Listing at | BSE SME |
| Total Issue Size (₹ Crore) | ₹55 crores approx |
| Minimum Investment | 2 lots (2,400 shares) |
Core4 Engineers IPO Timeline
Below is the complete schedule of events for the Core4 Engineers IPO.
| Bid Opening | 23 October 2026 |
| Bid Closing | 27 October 2026 |
| Tentative Allotment | 28 October 2026 |
| Initiation of Refunds | 29 October 2026 |
| Credit of Shares to Demat | 29 October 2026 |
| Tentative Listing Date | 30 October 2026 |
| UPI mandate closing date | 27 October 2026 |
Key Performance Indicators of Core4 Engineers IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 49.70 | 30.31 | 57.81 |
| ROCE (%) | 37.78 | 23.59 | 32.71 |
| Debt Equity (in times) | 1.02 | 0.99 | 2.60 |
| RoNW (%) | 39.81 | 20.37 | 44.85 |
| PAT Margin (%) | 13.54 | 11.15 | 8.63 |
| EBITDA margin (%) | 20.04 | 19.64 | 14.82 |
| Price to book | 4.43 | _ | _ |
Core4 Engineers IPO Financial Details
The Financial information of the Core4 Engineers IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue from Operations | 91.34 | 34.16 | 33.45 |
| Total Asset | 116.32 | 67.12 | 31.97 |
| Profit | 12.37 | 3.81 | 2.89 |
Core4 Engineers IPO Subscription Status
| Date | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
| Oct 23 (Day 1) | 0 | 0.05 | 0.02 | 0.1 | 0.14 | 0.08 |
Core4 Engineers IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Core4 Engineers IPO shows a GMP of ₹0 with an estimated listing price of ₹93.
| GMP Date | GMP | Est. Listing Price on upper price-₹93.00 | Est. Profit* | Trend |
| 24-Oct 12:36 | ₹0 (0.00%) ─ | ₹93 | ₹0 | Initial |
GMP is the unofficial premium at which IPO shares are quoted in the grey market before listing.
Core4 Engineers IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered Shares |
| QIBs | Not more than 50% of the net issue |
| NIIs | Not less than 15% of the net issue |
| Retails | Not less than 35% of the net issue |
| Total | 100% |
Core4 Engineers IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount in ₹ |
| Individual Investor (Min) | 2 | 2,400 | 2,23,200 |
| Individual Investor (Max) | 2 | 2,400 | 2,23,200 |
| sHNI (Min) | 3 | 3,600 | 3,34,800 |
| sHNI (Max) | 8 | 9,600 | 8,92,800 |
| bHNI (Min) | 9 | 10,800 | 10,04,400 |
Core4 Engineers IPO Prospectus
Investors can access the offered prospectus for the Core4 Engineers IPO mentioned below.
About Core4 Engineers Ltd.
Core4 Engineers Ltd. is an engineering company that provides solutions for railway electrification, power transmission and distribution, water and wastewater treatment, and industrial automation. The company works in engineering, procurement, construction and commissioning (EPCC). It provides infrastructure solutions for railway electrification, power transmission and distribution, water and wastewater treatment, and automation systems. It also manufactures high-tension (HT) and low-tension (LT) electrical panels and compact substations. Its services cover different stages of a project, from design and purchasing materials to installation, testing and maintenance. The company serves government organisations, public sector companies and private businesses.
Promoters:
- Agrahara Chamaraje Gowda Abhinandan
- Hosahalli Appagigowda Savitha
- Mahadevappa Tejus
- Anala
| Book Runner | Socradamus Capital Pvt. Ltd. |
| Issue Registrar | Purva Sharegistry (India) Pvt. Ltd. |
Purpose of Core4 Engineers IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Est. Amount in ₹ Crores |
| For capital expenditure requirements for acquisition consisting land and building | 4.12 |
| For working capital requirements | 40.48 |
| General corporate purposes | – |
| Total | – |
Core4 Engineers Ltd.- Strengths and benefits
- Diverse services: The company works across railway infrastructure, power distribution, water treatment and automation. This gives it opportunities to serve different infrastructure needs.
- In-house manufacturing facilities: It manufactures electrical panels and compact substations, which can help it control product quality and reduce dependence on outside suppliers.
Core4 Engineers Ltd- Risks and limitations
- Geographic concentration: A large share of the company’s revenue comes from Karnataka. Any slowdown in this region could affect its business.
- Top customer concentration: Core4 Engineers depends heavily on a few major customers for its revenue. In FY 2025–26, its top five customers contributed 66.22% of its total revenue, while the largest customer alone accounted for 42.31%. Losing these customers or receiving fewer orders from them could affect the company’s revenue and cash flow.
- Industry competition: The company competes with other engineering and infrastructure businesses. It may not always win project contracts or achieve its expected growth.
Core4 Engineers IPO Review
Core4 Engineers IPO is an SME book-built issue worth approximately ₹54.82 crore, comprising 58,94,400 fresh equity shares. The IPO opens on 23 October 2026 and closes on 27 October 2026, with a price band of ₹88 to ₹93 per share and a face value of ₹10 per share. The lot size is 1,200 shares, and retail individual investors must apply for at least two lots, or 2,400 shares, requiring ₹2,23,200 at the upper price band. The tentative allotment date is 28 October 2026, and the shares are expected to list on the BSE SME platform on 30 October 2026.
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Core4 Engineers IPO FAQs
The Core4 Engineers IPO is an SME public issue through which the company plans to raise approximately ₹54.82 crore by issuing 58,94,400 fresh equity shares. The shares are proposed to be listed on the BSE SME platform.
Investors can apply through a supported stockbroker or a bank offering IPO applications. They need to select the Core4 Engineers IPO, enter the required number of lots, provide their UPI ID or use the ASBA facility, and approve the payment request if applying through UPI. Investors should ensure that they have sufficient funds and complete the application before the deadline.
The Core4 Engineers IPO has both opportunities and risks. The company has reported higher income and profit, offers services across several infrastructure sectors, and manufactures some of its own electrical products. However, its dependence on Karnataka and a limited number of customers, along with negative operating cash flow, are important risks. Investors should review the company’s financial statements, valuation and risk factors before deciding whether to apply.
The Core4 Engineers IPO is scheduled to open on 23 October 2026 and close on 27 October 2026.
The lot size is 1,200 shares. Retail individual investors must apply for a minimum of two lots, or 2,400 shares, requiring ₹2,23,200 at the upper price band of ₹93 per share.
The tentative allotment date for the Core4 Engineers IPO is 28 October 2026.
The Core4 Engineers IPO shares are tentatively scheduled to list on the BSE SME platform on 30 October 2026.
