Core4 Engineers IPO
Core4 Engineers IPO Details
-
Open Date
23 Oct 2026
-
Close Date
27 Oct 2026
- IPO Price Range
₹ 88 to ₹93
- IPO Size
₹ 54.82 Cr
Core4 Engineers IPO Timeline
Last Updated: 23 October 2026 5:57 AM by 5paisa
Core4 Engineers Limited is an Engineering, Procurement, Construction and Commissioning (EPCC) company providing integrated infrastructure solutions across railway infrastructure, power transmission and distribution, water and wastewater treatment, and automation systems. Its services cover design, engineering, procurement, construction, installation, testing, commissioning and operation and maintenance. The company also manufactures high-tension and low-tension electrical panels and compact substations through its in-house facility in Karnataka. Its customers include government agencies, public sector undertakings and private infrastructure companies.
Established in: 2014 as a partnership firm; incorporated as a company in 2022
Managing Director: Agrahara Chamaraje Gowda Abhinandan
Peers:
K2 Infragen Limited
Core4 Engineers Objectives
1. Funding capital expenditure of ₹4.12 crore for acquiring land and an existing building to establish a new manufacturing facility and corporate office.
2. Funding incremental working capital requirements of ₹32.68 crore.
3. General corporate purposes.
Core4 Engineers IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹54.82 Cr |
| Offer for Sale | — |
| Fresh Issue | ₹54.82 Cr |
Core4 Engineers IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Individual Investors (IND) (Min) | 2 | 2400 | 223200 |
| Individual Investors (IND) (Max) | 2 | 2400 | 223200 |
| HNI (Min) | 3 | 3600 | 334800 |
| S-HNI (Max) | 8 | 9600 | 892800 |
| B-HNI (Min) | 9 | 10800 | 1004400 |
| Particulars (₹ Crores) | FY23 | FY24 | FY25 | H1 FY26 |
| Revenue | 13.12 | 33.45 | 34.16 | 47.07 |
| EBITDA | 1.54 | 5.07 | 6.82 | 8.81 |
| PAT | 0.84 | 2.89 | 3.81 | 6.05 |
| Particulars (₹ Crores) | FY23 | FY24 | FY25 | H1 FY26 |
| Total Assets | 14.61 | 31.99 | 68.10 | 77.35 |
| Share Capital | 2.80 | 2.80 | 2.96 | 2.96 |
| Total Equity and Liabilities | 14.61 | 31.99 | 68.10 | 77.35 |
| Particulars (₹ Crores) | FY23 | FY24 | FY25 | H1 FY26 |
| Net Cash Generated From / (Used in) Operating Activities | 2.50 | -13.24 | -8.18 | -2.77 |
| Net Cash Generated From / (Used in) Investing Activities | 0.01 | -1.82 | 0.03 | 0.18 |
| Net Cash Generated From / (Used in) Financing Activities | 0.48 | 12.00 | 8.43 | 2.58 |
| Net Increase / (Decrease) in Cash and Cash Equivalents | 2.99 | -3.06 | 0.27 | -0.01 |
Strengths
1. Integrated EPCC capabilities across railway, power, water and automation infrastructure.
2. In-house manufacturing of HT/LT electrical panels and compact substations supports project execution.
3. Experience in executing infrastructure projects for government entities, PSUs and private customers.
4. Revenue growth and improving profitability across the reported financial periods.
Weaknesses
1. High working capital requirements contribute to negative operating cash flows.
2. Significant geographical concentration, with Karnataka accounting for a majority of revenue during H1 FY26.
3. Project-based revenue depends on contract execution and timely customer payments.
4. Dependence on subcontractors and external suppliers can affect project costs and timelines.
Opportunities
1. Railway electrification and infrastructure modernisation may support demand for EPCC services.
2. Expansion of electricity transmission and distribution networks could create additional project opportunities.
3. Water and wastewater treatment infrastructure offers scope for engineering and commissioning contracts.
4. Proposed manufacturing expansion may increase production capacity and support new customer requirements.
Threats
1. Project delays, cancellations or cost overruns could affect revenue recognition and profitability.
2. Competitive bidding in infrastructure contracts may place pressure on project margins.
3. Fluctuations in construction material prices and supply disruptions could increase execution costs.
4. Changes in government infrastructure spending or regulatory requirements may affect order inflows.
1. Integrated infrastructure capabilities across railway, power, water and automation projects.
2. In-house manufacturing supports electrical equipment supply and project execution.
3. Revenue and profitability have increased across the reported financial periods.
4. IPO proceeds are intended to support manufacturing expansion and incremental working capital requirements.
India's infrastructure engineering sector draws demand from railway electrification, power transmission, water treatment and industrial automation projects. Expansion of railway networks, station modernisation and investment in electricity distribution infrastructure can create opportunities for EPCC companies. Water and wastewater treatment projects also require specialised engineering, installation and commissioning capabilities. Core4 Engineers operates across these segments, supported by its in-house electrical panel manufacturing operations. Its future growth will depend on securing new contracts, executing its existing order book, managing working capital requirements and maintaining project profitability amid competitive tendering conditions.
- Companies
- Type
- Opening On
-
EAAA India Alternatives
- Mainboard
- 26th Oct
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FAQs
Core4 Engineers IPO opens on October 23, 2026 and closes on October 27, 2026. Investors can submit applications during the subscription period through eligible banking or brokerage platforms.
The size of the Core4 Engineers IPO is approximately ₹54.82 crore. The issue consists entirely of fresh equity shares, with no offer-for-sale component.
The price band of Core4 Engineers IPO is fixed at ₹88 to ₹93 per share. The company will determine the final issue price through the book-building process.
To apply for Core4 Engineers IPO, follow the steps given below:
1. Log in to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the Core4 Engineers IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app. Approve the mandate within the stipulated time to complete the application process.
The IPO lot size is 2400 shares. The minimum application comprises two lots or 2400 shares, requiring an investment of ₹223200 at the upper price band of ₹93 per share.
The share allotment for Core4 Engineers IPO is tentatively scheduled for October 28, 2026. Investors can check their allotment status through the registrar or the relevant stock exchange after the basis of allotment is finalised.
Core4 Engineers IPO is tentatively scheduled to list on the BSE SME platform on October 30, 2026. The listing remains subject to completion of the allotment process and receipt of the necessary exchange approvals.
Socradamus Capital Private Limited is the book-running lead manager for Core4 Engineers IPO. Purva Sharegistry (India) Private Limited is the registrar responsible for processing allotment-related activities.
The company intends to utilise the net proceeds from the IPO for the following purposes:
1. Capital expenditure for acquiring property to establish a new manufacturing facility and corporate office.
2. Funding incremental working capital requirements.
3. General corporate purposes.