Overview
Updated 2 hr agoCore4 Engineers Limited is an infrastructure and engineering solutions provider specializing in railway electrification, water and wastewater treatment, and power distribution. The company offers end-to-end EPCC services and manufactures electrical panels and compact substations.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,11,600 |
| bNII (min) | 9 | 10,800 | ₹10,04,400 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 12 Nov, 18:33 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Grey market premium
Unofficial| Date | GMP | GMP % | Implied price |
|---|---|---|---|
| 01-Nov-2026 | ₹0 | 0.0% | ₹93 |
| 31-Oct-2026 | ₹0 | 0.0% | ₹93 |
GMP is an unofficial, unregulated, community-tracked quote. It is not an exchange price and not a forecast. See how often it has been right →
Listing performance
Latest price updated 4 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE |
| Segment | SME |
| Sector | Engineering - Construction |
| Price band | ₹88–93 |
| Final issue price | ₹93.00 |
| Face value | ₹10 per share |
| Lot size | 1,200 shares |
| Minimum investment | ₹1,11,600 |
| Issue size | ₹55.00 Cr |
| Market cap at upper band | ₹192 Cr |
| P/E at upper band | 11.1x |
| Registrar | Purva Sharegistry (India) Private Limited |
| Lead managers | Socradamus Capital Private Limited |
| NSE symbol | CORE4 |
| ISIN | INE1RY601016 |
Shareholder quota and promoter holding
Company & business
Core4 Engineers Limited is an engineering, procurement, construction, and commissioning (EPCC) company based in Mysore, Karnataka. The company provides integrated infrastructure solutions across multiple domains, with a primary focus on railway infrastructure, power transmission and distribution, and water and wastewater treatment sectors. Its expertise spans the entire project lifecycle, including design, engineering, procurement, erection, testing, commissioning, and operation and maintenance (O&M). Additionally, the company operates an in-house manufacturing facility for High-Tension (HT) and Low-Tension (LT) electrical panels and compact substations, which complements its EPCC activities. The company also undertakes sub-contracting assignments, providing on-ground execution support for a wide range of engineering projects.
Objects of the issue — how the money will be used
- Funding capital expenditure for the acquisition of a property comprising land and an existing building (₹4.12 Cr)
- Funding incremental working capital requirements (₹40.48 Cr)
- General corporate purposes
Key strengths
- Wide operational reach and multi-disciplinary execution capability
- Cost efficiency through in-house panel manufacturing
- In-house testing and quality assurance
- Innovation and adoption of advanced technologies
- Experienced and qualified in-house execution team
Key risks
- High dependence on private-sector customers
- Concentration of projects in Karnataka
- Dependence on government tenders and policy changes
- High working capital requirements
- Dependence on third-party contractors for skilled manpower
- No long-term agreements with suppliers of construction materials
- Negative operating cash flows in previous periods
Promoters
Agrahara Chamaraje Gowda Abhinandan, Hosahalli Appagigowda Savitha, Mahadevappa Tejus, Anala
Decoded from the RHP with AI on 31-Oct-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 33.45 | -- | 2.89 | 31.97 | 6.43 | 16.75 |
| FY25 | 34.16 | -- | 3.81 | 67.12 | 18.70 | 18.58 |
| FY26 | 91.34 | -- | 12.37 | 116.32 | 31.07 | 31.58 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Core4 Engineers this issue | 91.3 | 8.36 | 11.1x | 39.81 | 21.01 |
| K2 Infragen Limited | 182.5 | 10.53 | 4.0 | 14.83 | 71.05 |
This issue is priced at 11.1x P/E against a peer median of 4.0x: a premium of 180%. A measurement, not a verdict.
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Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.