Core4 Engineers Limited
Book Building IPO · BSE
- Price band
- ₹88 - ₹93
- Lot size
- 1,200 shares
- Issue amount
- ₹54.82 cr
- Total subscription
- 5.63×
- Opens
- 23 Oct 2026
- Closes
- 27 Oct 2026
- Allotment
- 28 Oct 2026
- Listing
- 30 Oct 2026
Offer at a glance
Issue overview
- Issue size
- 58,94,400 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,05,600
- Fresh issue
- ₹54.82 cr
- Offer for sale
- ₹0 cr
- Registrar
- Purva Sharegistry India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,11,600
- Issue type
- Book Building IPO
- Shares before issue
- 1,47,88,845
- Shares after issue
- 2,06,83,245
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,23,200 |
| sHNI | 3 | 3,600 | ₹3,34,800 |
| bHNI | 9 | 10,800 | ₹10,04,400 |
Share reservation
Subscription & GMP
Subscription by category
Reported 27 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 755 | 19 |
| HNIs(10L +) | 144 | 0 |
| HNIs (2-10L) | 72 | 1 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 9.68 | 48.96 |
| RETAIL | 16.85 | 45.91 |
| NIB | 7.23 | 94.25 |
| HNIs 2+ | 2.41 | 10.9 |
| HNIs 10+ | 4.82 | 84.43 |
| HNIs | 7.23 | 95.33 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| EPS | 4.17 | 8.36 | 2.59 | 1.97 |
| ROE | 18.06 | 49.7 | 30.31 | 57.81 |
| ROCE | 13.23 | 37.78 | 23.59 | 32.71 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 11.12 | 0 | 0 |
| POST IPO(PE) | 7.8 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Core4 Engineers Limited | 11.12 | 0 | 10.00 | 21.01 | 39.81 | 8.36 |
| K2 Infragen Limited | 3.97 | 0 | 10.00 | 71.05 | 14.83 | 10.53 |
Company information
Company profile
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 sectors. The company undertakes end-to-end project execution including design, engineering, procurement, erection, testing, commissioning, and operation and maintenance (O&M). It also operates an in-house manufacturing facility for High-Tension (HT) and Low-Tension (LT) electrical panels and compact substations, supporting both EPC projects and third-party clients, with its subsidiary Core4 Energy Ltd. contributing to product-based revenue through electrical panel manufacturing. Core4 Engineers executes projects for Indian Railways, public sector undertakings, and infrastructure contractors, with expertise in railway electrification (25 kV OHE systems and traction substations), railway infrastructure development, EHT transmission projects up to 220 kV, and water and wastewater treatment solutions using technologies like MBBR and SBR, along with automation and SCADA systems. As of September 30, 2025, the company had a workforce of 433 personnel including employees and project-based labour.
Strengths
- Diversified Engineering Capabilities: The company operates across railway electrification, EHV transmission and distribution, water and wastewater projects, SCADA and automation, enabling it to handle large and complex infrastructure projects.
- In-House Electrical Panel Manufacturing: The company manufactures HT and LT electrical panels in-house, helping control costs, improve margins and support efficient project execution.
- Strong Quality Assurance: The company conducts comprehensive in-house testing, including all eight CPRI-approved type tests, to ensure product safety, reliability and performance.
Risk factors
- Raw Material Supply Risk: The company relies on third-party suppliers for construction materials and electrical components. Supply shortages or rising material costs could delay projects and reduce profitability.
- Performance Guarantee Risk: EPC projects require bank guarantees, and any difficulty in arranging them or their invocation could negatively affect the company’s cash flow and financial position.
- Project Delay Risk: Material shortages, labour issues, approval delays, design changes, supply chain disruptions or unexpected site conditions could delay project completion and affect revenue and profitability.
Promoters
Agrahara Chamaraje Gowda Abhinandan
Hosahalli Appagigowda Savitha
Mahadevappa Tejus
Anala
Registrar & documents
Lead manager
Socradamus Capital Private Limited
Registrar & contacts
Purva Sharegistry India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Mathrushree No. 12, 1st Floor, Near Ramana Maharshi Gyana Kendra, Next to New court, K Block, Kuvempunagar, Mysuru, Karnataka, 570023
0821 4507882
[email protected]Company website ↗Understanding CORE4 IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.