Core4 Engineers IPO Day 1: Subscribed 0.01x; Retail Demand at 0.02x
Key Highlights
Core4 Engineers IPO (₹40 crore SME IPO) was subscribed 0.01x on Day 1 of 3, with Retail at 0.02x. See category-wise subscription and day-wise bids.
Last updated: Fri, Oct 23, 2026, 11:00 AM IST · SME · · Day 1 of 3
- Core4 Engineers IPO subscribed 0.01x overall on Day 1
- Total bids: 48,000 shares against 43,50,000 shares on offer
- Category-wise: —, 0.00x, 0.02x
- Price band: ₹88 to ₹93 per share
- The issue closes on Tue, Oct 27, 2026
The Core4 Engineers IPO opened for subscription on day 1 of 3 trading days. The issue recorded an overall subscription multiple of 0.01x as of Fri, Oct 23, 2026, 11:00 AM IST.
The retail category was the most-bid segment, recording a subscription multiple of 0.02x. Other investor categories did not record any bids during the initial hours of the first day.
Core4 Engineers IPO Status: Day 1
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Fri, Oct 23, 2026 | 48,000 | 0.45 | 0.01x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) |
|---|---|---|---|
| QIB | 10,40,400 | — | — |
| NII | 14,97,600 | 4,800 | 0.00x |
| of which individual NII | — | 4,800 | — |
| Retail | 18,12,000 | 43,200 | 0.02x |
| Total | 43,50,000 | 48,000 | 0.01x |
Retail investors bid for 43,200 shares against the 18,12,000 shares offered for their category. Non-institutional investors (NII), which includes individuals bidding above ₹2 lakh, recorded 4,800 bids against 14,97,600 shares offered. Qualified institutional buyers (QIB), which includes large financial institutions like banks and mutual funds, did not record any bids against their quota of 10,40,400 shares.
Core4 Engineers IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Fri, Oct 23, 2026 to Tue, Oct 27, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹88 to ₹93 per share |
| Lot size | 2,400 shares |
| Total issue size | 58,94,400 shares (₹40 crore) |
| Listing at | BSE |
| Lead managers | Socradamus Capital Pvt Ltd. |
| Purva Shareregistry (India) Pvt Ltd |
About Core4 Engineers
Core4 Engineers Ltd. is an Engineering, Procurement, Construction and Commissioning company providing integrated infrastructure solutions. As per the DRHP, the company provides services in railway electrification, EHT transmission, water and wastewater treatment, and SCADA and automation. It also operates an in-house manufacturing facility for High-Tension and Low-Tension electrical panels and compact substations. The company serves government entities, including Indian Railways and various public sector undertakings, alongside private sector clients in industrial and commercial segments. Its expertise covers the entire project lifecycle, including design, engineering, procurement, erection, testing, commissioning, and operation and maintenance.
Core4 Engineers Financial Highlights
| Metric | FY 2024-25 | FY 2023-24 |
|---|---|---|
| from operations (₹ crore) | 341.57 | 334.51 |
| Total income (₹ crore) | 345.98 | 336.27 |
| Profit after tax (₹ crore) | 38.09 | 28.86 |
| Net worth (₹ crore) | 187.00 | 64.35 |
| Total borrowings (₹ crore) | 138.32 | 143.00 |
| (₹) | 13.28 | 10.31 |
Revenue from operations grew 2.1% in FY 2024-25, rising to ₹341.57 crore from ₹334.51 crore in FY 2023-24. Profit after tax grew 32% in FY 2024-25, reaching ₹38.09 crore compared to ₹28.86 crore in FY 2023-24. The company reported a debt-to-equity ratio of 0.74x at FY 2024-25.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Funding capital expenditure for the acquisition of a property comprising land and an | 4.12 |
| Funding incremental working capital requirements; and | 32.68 |
Risk Factors as per the DRHP
- The company faces customer concentration risk, as a significant portion of its revenue is derived from its top 10 customers.
- It lacks long-term agreements with suppliers, which exposes the business to procurement uncertainties.
- There are outstanding tax and legal proceedings involving the company and its promoters.
- The company relies on unsecured loans from promoters and faces potential risks from vendor or employee fraud.
How to Check Core4 Engineers IPO Subscription Status
Live bidding figures are published by BSE while the issue is open. Once it closes, allotment status is published by the registrar, Purva Shareregistry (India) Pvt Ltd.
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Fri, Oct 23, 2026, 11:00 AM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.