Core4 Engineers IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Oct 23 to Oct 27 2026
Price Band
₹88 - 93
Current GMP
₹74.40 (-20%)
Subscription
5.44 times
IPO Details
| IPO Date | 23 to 27 Oct, 2026 |
| Listing Date | Fri, Oct 30, 2026 |
| Face Value | 10 per share |
| Price Band | 88 to 93 |
| Issue Price | 93 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| 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 |
| BSE Script Code | 545007 |
| ISIN | INE1RY601016 |
IPO Date
23 to 27 Oct, 2026
Listing Date
Fri, Oct 30, 2026
Face Value
10 per share
Price Band
88 to 93
Issue Price
93 per share
Lot Size
1,200 Shares
Sale Type
Fresh capital only
Issue Type
Bookbuilding IPO
Listing At
BSE SME
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
BSE Script Code
545007
ISIN
INE1RY601016
IPO Subscription Details
| Anchor | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 5.06 |
| NII*** | 12.26 |
| bNII (> ₹10L) | 16.12 |
| sNII (< ₹10L) | 4.52 |
| Individual Investors | 2.72 |
| Total ** | 5.44 |
Anchor
1
Market Maker
1
QIB (Ex Anchor)
5.06
NII***
12.26
bNII (> ₹10L)
16.12
sNII (< ₹10L)
4.52
Individual Investors
2.72
Total **
5.44
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Oct 2 3 (Day 1) | 0.00 | 0.05 | 0.02 | 0.10 | 0.14 | 0.08 |
| Oct 2 6 (Day 2) | 0.00 | 2.37 | 3.41 | 0.28 | 0.40 | 0.71 |
| Oct 2 7 (Day 3) | 5.06 | 12.26 | 16.12 | 4.52 | 2.72 | 5.44 |
DayOct 2
3 (Day 1)
QIB (Ex Anchor)0.00
NII*0.05
NII (> ₹10L)0.02
NII (< ₹10L)0.10
Individual Investors0.14
Total0.08
DayOct 2
6 (Day 2)
QIB (Ex Anchor)0.00
NII*2.37
NII (> ₹10L)3.41
NII (< ₹10L)0.28
Individual Investors0.40
Total0.71
DayOct 2
7 (Day 3)
QIB (Ex Anchor)5.06
NII*12.26
NII (> ₹10L)16.12
NII (< ₹10L)4.52
Individual Investors2.72
Total5.44
Day Wise GMP
| GMP Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 30-10-2026 | 93 | 0 (0%) | 93 |
GMP Date30-10-2026
IPO Price93
GMP0 (0%)
Est. Listing Price93
IPO Important Dates
| IPO Open | Fri, Oct 23, 2026 |
| IPO Close | Tue, Oct 27, 2026 |
| Allotment | Wed, Oct 28, 2026 |
| Refund | Thu, Oct 29, 2026 |
| Credit of Shares | Thu, Oct 29, 2026 |
| Listing | Fri, Oct 30, 2026 |
IPO Open
Fri, Oct 23, 2026
IPO Close
Tue, Oct 27, 2026
Allotment
Wed, Oct 28, 2026
Refund
Thu, Oct 29, 2026
Credit of Shares
Thu, Oct 29, 2026
Listing
Fri, Oct 30, 2026
IPO Lot Size
| 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 |
ApplicationIndividual investors (IND) (Min)
Lots2
Shares2400
Amount₹2,23,200
ApplicationIndividual investors (IND) (Max)
Lots2
Shares2400
Amount₹2,23,200
ApplicationS-HNI (Min)
Lots3
Shares3600
Amount₹3,34,800
ApplicationS-HNI (Max)
Lots8
Shares9600
Amount₹8,92,800
ApplicationB-HNI (Min)
Lots9
Shares10800
Amount₹10,04,400
Financial Information
| 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 |
Period EndedAssets
30 Jun 2026145.43
31 Mar 2026116.32
31 Mar 202567.12
31 Mar 202431.97
Period EndedTotal Income
30 Jun 202645.77
31 Mar 202691.79
31 Mar 202534.60
31 Mar 202433.63
Period EndedProfit After Tax
30 Jun 20266.17
31 Mar 202612.37
31 Mar 20253.81
31 Mar 20242.89
Period EndedEBITDA
30 Jun 20269.08
31 Mar 202618.30
31 Mar 20256.71
31 Mar 20244.96
Period EndedNET Worth
30 Jun 202637.23
31 Mar 202631.07
31 Mar 202518.70
31 Mar 20246.43
Period EndedReserves and Surplus
30 Jun 202622.44
31 Mar 202616.28
31 Mar 202515.74
31 Mar 20243.63
Period EndedTotal Borrowing
30 Jun 202640.57
31 Mar 202631.58
31 Mar 202518.58
31 Mar 202416.75
Key Performance Indicator
| ROE | 18.06% |
| ROCE | 13.23% |
| Debt/Equity | 1.09 |
| RoNW | 16.56% |
| PAT Margin | 13.51% |
| EBITDA Margin | 19.90% |
| NAV | 25.18 |
| P/B (x) | 3.69 |
ROE
18.06%
ROCE
13.23%
Debt/Equity
1.09
RoNW
16.56%
PAT Margin
13.51%
EBITDA Margin
19.90%
NAV
25.18
P/B (x)
3.69
Peers Comparison
| Company Name | EPS (Basic) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|
| Core4 Engineers Ltd. | 8.36 | 21.01 | 39.81 | |||
| K2 Infragen Ltd. | 10.53 | 71.05 | 3.97 | 14.83 | 0.58 |
Company NameCore4 Engineers Ltd.
EPS (Basic)8.36
NAV (₹ per share)21.01
P/E (x)
RoNW (%)39.81
P/BV Ratio
Financial statements
Company NameK2 Infragen Ltd.
EPS (Basic)10.53
NAV (₹ per share)71.05
P/E (x)3.97
RoNW (%)14.83
P/BV Ratio0.58
Financial statements
IPO Reservation
| QIB | 25,84,800 |
| − Anchor Investor | 15,44,400 |
| − QIB (Ex. Anchor) | 10,40,400 |
| NII (HNI) | 7,77,600 |
| − bNII > ₹10L | 5,18,400 |
| − sNII < ₹10L | 2,59,200 |
| Retail | 18,12,000 |
| Market Maker | 7,20,000 |
| Total | 58,94,400 |
QIB
25,84,800
− Anchor Investor
15,44,400
− QIB (Ex. Anchor)
10,40,400
NII (HNI)
7,77,600
− bNII > ₹10L
5,18,400
− sNII < ₹10L
2,59,200
Retail
18,12,000
Market Maker
7,20,000
Total
58,94,400
Information about company
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
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
#: Issue 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;
2: Funding incremental working capital requirements; and
3: General corporate purposes
: Total
Disclaimer
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