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.
Core4 Engineers IPO – Details
| IPO Opening Date | 23 October 2026 |
| IPO Closing Date | 27 October 2026 |
| Issue Type | Book Building IPO |
| Issue Size | Total Issue: 58,94,400 Shares Worth ₹54.82 Crore Fresh Issue: 58,94,400 Shares Worth ₹54.82 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹88 – ₹93 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Purva Sharegistry (India) Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Core4 Engineers IPO – Date Schedule
| IPO Open Date | 23 October 2026 |
| IPO Close Date | 27 October 2026 |
| Basis of Allotment | 28 October 2026 |
| Initiation of Refund | 29 October 2026 |
| Credit of Shares to Demat | 29 October 2026 |
| IPO Listing Date | 30 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 27, 2026 |
Core4 Engineers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2400 | ₹2,23,200 |
| Retail (Max) | 2 | 2400 | ₹2,23,200 |
| S-HNI (Min) | 3 | 3600 | ₹3,34,800 |
| S-HNI (Max) | 8 | 9600 | ₹8,92,800 |
| B-HNI (Min) | 9 | 10800 | ₹10,04,400 |
Competitive Strength
- Integrated EPCC Capabilities.
- Diversified Business Portfolio.
- Experienced Project Workforce.
- Technical and Execution Capabilities.
- In-House Manufacturing Capabilities.
- Presence Across Key Infrastructure Sectors.
Company Promoters
- Agrahara Chamaraje Gowda Abhinandan
- Hosahalli Appagigowda Savitha
- Mahadevappa Tejus and Anala
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹33.63 Cr | ₹29.54 Cr | ₹2.89 Cr | ₹16.75 Cr |
| 31 March 2025 | ₹34.60 Cr | ₹29.24 Cr | ₹3.81 Cr | ₹18.58 Cr |
| 31 March 2026 | ₹91.79 Cr | ₹75.25 Cr | ₹12.37 Cr | ₹31.58 Cr |
| 30 June 2026 | ₹45.77 Cr | ₹37.48 Cr | ₹6.17 Cr | ₹40.57 Cr |
Key Performance Indicator
| KPI | Values (June 30, 2026) |
|---|---|
| ROE | 18.06% |
| ROCE | 13.23% |
| Debt/Equity | 1.09 |
| RoNW | 16.56% |
| PAT Margin | 13.51% |
| EBITDA Margin | 19.90% |
| NAV | 25.18 |
| Price to Book Value | 3.69 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.36 | 11.93 |
| P/E (x) | 11.12 | 7.80 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| 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. |
✅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.
Core4 Engineers IPO Promoter Holding
| Pre-Issue Share Holding | 82.09% |
| Post Issue Share Holding | 58.69% |
Core4 Engineers IPO Prospectus
Company Contact Information
| Core4 Engineers Limited Mathrushree No. 12, 1st Floor, Near Ramana Maharshi Gyana Kendra, Next to New court, K Block, Kuvempunagar, Mysuru, Karnataka, 570023 Phone: 821 4507882 Email: investor@core4grp.com Website: https://core4engineers.com/ |
Core4 Engineers IPO Registrar
| Purva Sharegistry (India) Pvt. Ltd. Phone: 022-41343255 Email: newissue@purvashare.com Website: https://www.purvashare.com/investor-service/ipo-query |
Core4 Engineers IPO Lead Manager(s)
| 1. Socradamus Capital Private Limited |
Core4 Engineers IPO FAQ
| What is the Core4 Engineers IPO? Core4 Engineers IPO is an SME IPO. The issue is priced at ₹88 – ₹93 per equity share. The IPO is to be listed on BSE SME. |
| When will Core4 Engineers IPO open? The IPO is to open on 23 October 2026 for QIB, NII and Retail Investors. |
| What is Core4 Engineers IPO Investors’ Portion? The Investors portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Core4 Engineers IPO Size? Core4 Engineers IPO size is ₹54.82 Crore. |
| What are the Core4 Engineers IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,23,200, while the maximum bid is 2400 Shares for ₹2,23,200. |
| What is the Core4 Engineers IPO Allotment Date? Core4 Engineers IPO allotment date is 28 October 2026. |
| What is the Core4 Engineers IPO Listing Date? Core4 Engineers IPO listing date is 30 October 2026. The IPO is to be listed on the BSE SME. |
