IPO Launch and Offering Details
Core4 Engineers Limited announced that its initial public offering will open for subscription on 23 October 2026 and close on 27 October 2026, with the issue slated to be listed on the BSE SME platform. The company seeks to raise ₹54.82 crore through a fresh issue of 58,94,400 equity shares. The price band is fixed at ₹88 to ₹93 per share, comprising a face value of ₹10 and a premium of ₹83. The lot size is 1,200 shares and the minimum application is 2,400 shares, which at the upper end of the band translates to a minimum outlay of ₹2,23,200.
Ahead of the public issue, the company allotted 15,44,400 equity shares to five anchor investors at the top of the price band, ₹93 per share, valuing the anchor allocation at approximately ₹14.36 crore. Vikasa India EIF I Fund – Incube Global Opportunities received the largest allocation of 8,06,400 shares (52.21% of the anchor pool), LRSD Capital Private Limited was allotted 3,06,000 shares (19.81%), Shine Star Build CSD Private Limited received 2,16,000 shares (13.99%), and Evergrow Capital Opportunities Fund and Teal Rise Fund I each received 1,08,000 shares (6.99% each). No mutual fund schemes participated in the anchor allocation. The basis of allotment is expected to be finalised on 28 October, with the listing scheduled for 30 October, subject to applicable processes.
Use of Proceeds
Core4 Engineers intends to utilise the IPO proceeds primarily for capital expenditure to acquire a property consisting of land and an existing building for a proposed manufacturing facility and corporate office. A portion of the funds will also be allocated towards incremental working capital requirements and general corporate purposes.
Company Business Overview
Core4 Engineers operates as an engineering, procurement, construction and commissioning (EPCC) company. Its business activities span railway electrification, power transmission and distribution, water and wastewater treatment, automation and SCADA systems, as well as the manufacturing of high‑tension and low‑tension electrical panels and compact substations. The proposed manufacturing facility and corporate office form part of the company’s expansion plans, while the working capital allocation is intended to support ongoing operational requirements.