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Core4 Engineers IPOLISTED
Core4 Engineers Limited is an EPCC company specialising in railway infrastructure, power transmission, water and wastewater treatment, and industrial automation solutions.
Listing price
₹74.4
−20.00%
Current price
—
Not available
Issue price
₹93
Upper band
Listed on
30 Oct 26
CORE4ENGINEERS
- Open23 Oct
- Close27 Oct
- Allotment28 Oct
- Refund29 Oct
- Demat29 Oct
- Listing30 Oct
Listed at
₹74.4
-20.00% on 30 Oct 26
Overview
Price band
₹88-93
Lot size
1,200 shares
Minimum application 2 lots
Face value
₹10 / share
Issue type
Book Built Issue
Min. investment
₹2,23,200
2 lots · 2,400 shares
Listing at
BSE
Issue Size : 58,94,400 shares worth ₹54.82 Cr
- Fresh Issue : 58,94,400 shares worth ₹54.82 Cr
IPO Share Reservation
Total
87.78%
Lot size & investment
| 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 |
Listing performance
Listing gain
−20.00%
Gain per retail lot
₹-44,640.00
Latest vs issue
—
GMP was
—
Latest price shows here when a live quote is available (NSE main-board stocks).
Subscription
- QIB0.00xQIB0.00xQualified Institutional BuyersShares offered 10,40,400Shares applied 0Bid amount ₹0 Cr
- NII (HNI)0.05xNII (HNI)0.05xNon-Institutional InvestorsShares offered 7,77,600Shares applied 36,000Bid amount ₹0.33 Cr
- S-HNI0.10xS-HNI0.10xSmall HNI · ₹2L – ₹10LShares offered 2,59,200Shares applied 25,200Bid amount ₹0.23 Cr
- B-HNI0.02xB-HNI0.02xBig HNI · above ₹10LShares offered 5,18,400Shares applied 10,800Bid amount ₹0.1 Cr
- Retail0.14xRetail0.14xRetail Individual InvestorsShares offered 18,12,000Shares applied 2,59,200Bid amount ₹2.41 Cr
- Total0.08xTotal0.08xAll categories combinedShares offered 36,30,000Shares applied 2,95,200Bid amount ₹2.75 Cr
Financials
| Period(₹ Cr) | Revenue | Expense | PAT | Assets | Borrowing |
|---|---|---|---|---|---|
| Mar 2024 | 33.63 | 29.54 | 2.89 | 31.97 | 16.75 |
| Mar 2025 | 34.6 | 29.24 | 3.81 | 67.12 | 18.58 |
| Mar 2026 | 91.79 | 75.25 | 12.37 | 116.32 | 31.58 |
| Jun 2026 | 45.77 | 37.48 | 6.17 | 145.43 | 40.57 |
KPI & Valuation
Key performance indicators
- ROE
- 18.06%
- PAT Margin
- 13.51%
- ROCE
- 13.23%
- EBITDA Margin
- 19.9%
- Debt to Equity Ratio
- 1.09
- Price to Book Value
- 3.69
- RoNW
- 16.56%
As of 30 Jun 2026
Valuation
- EPS Pre IPO
- ₹8.36
- EPS Post IPO
- ₹11.93
- P/E Pre IPO
- 11.12
- P/E Post IPO
- 7.8
Strengths & risks
Strengths
- Diversified Business across railway, power and water infrastructure.
- End-to-End Services from engineering to project commissioning.
- In-House Manufacturing of HT/LT panels and compact substations.
- Industry Growth Potential from infrastructure development.
Risks
- Geographical Concentration with 95.01% of revenue from Karnataka.
- High Working Capital requirements due to project funding needs.
- Delayed Payments with ₹1,526.51 lakh overdue for more than one year.
- Contract Termination Risk with two government contract disputes pending.
- Outstanding Borrowings of ₹4,715.19 lakh as of June 2026.
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| 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. | 4.12 |
| Funding incremental working capital requirements. | 40.48 |
| General Corporate Purposes. | - |
Promoter Holdings
Company Promoter(s)
- Agrahara Chamaraje Gowda Abhinandan
- Hosahalli Appagigowda Savitha
- Mahadevappa Tejus and Anala
Registrar & contacts
Registrar
Purva Sharegistry (India) Pvt. Ltd.
Company
Core4 Engineers Limited
- Mathrushree No. 12, 1st Floor, Near Ramana Maharshi Gyana Kendra, Next to New court, K Block, Kuvempunagar, Mysuru, Karnataka, 570023
- 821 4507882
- investor@core4grp.com
- https://core4engineers.com/
Documents
Lead managers
About Core4 Engineers
Core4 Engineers Limited is a Mysore, Karnataka-based Engineering, Procurement, Construction and Commissioning (EPCC) company specialising in railway infrastructure, power transmission and distribution, water and wastewater treatment, and industrial automation projects. Established in June 2014, the company provides integrated infrastructure solutions covering design, engineering, procurement, construction, installation, testing, commissioning and operations and maintenance (O&M).
The company operates through five major business segments:
- Railway Electrification & Infrastructure: Executes railway electrification projects involving 25 kV overhead equipment (OHE), traction substations, power supply systems, railway station redevelopment, platforms, foot overbridges, passenger amenities and associated civil and electrical works.
- Extra High Tension (EHT) Transmission & Distribution: Undertakes turnkey power transmission and distribution projects up to 220 kV, including electrical substations, transmission lines, transformers, switchgear, underground cabling and distribution networks.
- Water & Wastewater Treatment: Develops water treatment plants (WTPs), sewage treatment plants (STPs), effluent treatment plants (ETPs), pumping stations, pipelines and water distribution systems, along with related mechanical, electrical and maintenance services.
- Automation & SCADA Systems: Provides PLC-based automation and Supervisory Control and Data Acquisition (SCADA) solutions, including remote monitoring systems, control panels, instrumentation and communication networks for railway, power and water infrastructure.
- HT/LT Distribution Panels & Compact Substations: Manufactures high-tension and low-tension electrical panels, including VCB, PCC, MCC, APFC, relay and automation panels, along with factory-assembled compact substations designed for voltage levels up to 33 kV.
The company operates an in-house manufacturing facility in Mysore, Karnataka, producing electrical panels, automation systems and compact substations for its infrastructure projects and external customers. Its wholly owned subsidiary, Core4 Energy Private Limited, supports the electrical equipment manufacturing business.
Core4 Engineers serves Indian Railways, government departments, public sector undertakings, electricity utilities, infrastructure contractors and private industrial companies. As of the RHP date, its consolidated order book stood at approximately ₹285.83 crore.
As of June 30, 2026, the company had 462 personnel, including 62 payroll employees and 400 floating labourers engaged primarily in project execution.