Core4 Engineers SME IPO opens today: Check price band and other key details

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The Economic Times daily newspaper is available online now. Read Today's Paper Core4 Engineers SME IPO opens today: Check price band and other key detailsBy Ritesh Presswala, ETMarkets.comLast Updated: Oct 23, 2026, 09:08:00 AM ISTSynopsis

Core4 Engineers’ Rs 54.82 crore SME IPO opens on October 23, 2026, and closes on October 27. Priced at Rs 88–93 per share, proceeds will fund working capital, facility acquisition, and corporate purposes. The company reported FY26 revenue of Rs 92 crore and profit of Rs 2 crore, reflecting strong annual growth.

Core4 Engineers IPO opens for subscription on October 23, 2026, on the BSE SME platform, giving investors a three-day bidding window. The issue is entirely a fresh issue of 58.94 lakh shares, aggregating to Rs 54.82 crore.

The IPO will close on October 27, 2026, with the allotment expected to be finalised on October 28. The company’s shares are tentatively scheduled to list on the BSE SME platform on October 30, 2026.

The price band for the Core4 Engineers IPO has been fixed at Rs 88-93 per share, with a lot size of 1,200 shares. Retail investors must apply for a minimum of two lots, or 2,400 shares, requiring an investment of Rs 2,23,200 at the upper end of the price band. High-net-worth individual (HNI) investors must apply for at least three lots, or 3,600 shares, amounting to Rs 3,34,800.

Socradamus Capital Pvt. Ltd. is the book-running lead manager for the issue, while Purva Sharegistry (India) Pvt. Ltd. is the registrar. Mansi Share & Stock Broking Pvt. Ltd. has been appointed as the market maker.

Core4 Engineers IPO: Objects of the issue

The company plans to utilise Rs 4.12 crore from the IPO proceeds towards acquiring land and an existing building to establish a new manufacturing facility and corporate office. Of the total net proceeds of Rs 44.60 crore, Rs 40.48 crore will be allocated towards meeting incremental working capital requirements, while the remaining amount will be used for general corporate purposes.

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Financial performance

Core4 Engineers Ltd. reported a sharp improvement in its financial performance in FY26, with total income rising to Rs 92 crore from Rs 35 crore in FY25, registering a growth of around 163%.

Profit after tax (PAT) increased to Rs 12 crore in FY26 from Rs 4 crore in the previous financial year, marking a rise of 200%.

About Core4 Engineers Ltd.

Incorporated in June 2014, Core4 Engineers Limited is an Engineering, Procurement, Construction and Commissioning (EPCC) company that provides integrated infrastructure solutions across railway infrastructure, power transmission and distribution, and water and wastewater treatment. Its services cover design, engineering, procurement, construction, installation, testing, commissioning, and operations and maintenance. The company also undertakes automation and Supervisory Control and Data Acquisition (SCADA) projects and manufactures high-tension (HT) and low-tension (LT) distribution panels and related equipment.

Its railway operations include electrification, traction substations, station redevelopment and allied civil works, while its power division executes turnkey projects involving substations, transmission lines and distribution networks of up to 220 kV. The company serves government organisations, public sector undertakings, utilities, infrastructure contractors and private enterprises across India. As of June 30, 2026, it had a workforce of 462, comprising 62 employees on its payroll and 400 floating labourers primarily engaged in project execution.

Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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