Core4 Engineers IPO

About Core4 Engineers IPO

The Core4 Engineers IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of a fresh issue component. The fresh issue will include 58,94,400 shares (aggregating up to ₹[TBA] crores). The total number of shares is 58,94,400 and the aggregate amount is yet to be finalised.

Core4 Engineers IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

Core4 Engineers is an Engineering, Procurement, Construction and Commissioning (EPCC) company engaged in providing integrated infrastructure solutions across multiple domains, with a primary focus on the railway infrastructure, power transmission & distribution, and water & wastewater treatment sectors.

Objectives of Core4 Engineers IPO

• 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.
  
• Funding incremental working capital requirements.
  
• General corporate purposes.
  

Industry Outlook

Indian Infrastructure EPC Market is defined as the total domestic revenue generated from engineering, procurement, and construction (EPC) activities undertaken within India across Railway Infrastructure and Water Infrastructure segments, along with the related markets for HT/LT Power Distribution Panels, Compact Substations (CSS), and SCADA & Automation Systems. (Source: Ken Report) India’s infrastructure buildout is one of the largest globally, with public investments leading the way.

In railways, new lines, station redevelopment, and freight corridors are increasing requirements for EPC works and execution capacity. Wastewater treatment is becoming integral as urban growth and regulatory standards mandate treatment and reuse systems. In the power sector, transmission expansion and distribution upgrades are driving the use of HT/LT distribution panels and compact substations to support reliable delivery. Across power, transport, and utilities, the shift toward digital monitoring and grid stability makes SCADA and automation systems necessary for real-time control, compliance, and operational efficiency.

About Core4 Engineers

Core4 Engineers is an Engineering, Procurement, Construction and Commissioning (EPCC) company engaged in providing integrated infrastructure solutions across multiple domains, with a primary focus on the railway infrastructure, power transmission & distribution, and water & wastewater treatment sectors. Their expertise spans the entire project lifecycle design, engineering, procurement, erection, testing, commissioning, and operation & maintenance (O&M). They also operate an in-house manufacturing facility for High-Tension (HT) and Low-Tension (LT) electrical panels and compact substations, enabling them to offer customized, reliable, and cost-efficient products that complement their EPCC activities. They also undertake sub-contracting assignments, providing on-ground execution support for a wide range of engineering projects.

Their diversified business verticals include:

• Railway Electrification & Infrastructure
  
• Extra High Tension (EHT) Transmission and Distribution Systems
  
• Water and Wastewater Treatment EPCC
  
• Automation and SCADA Systems
  
• Composite supply of HT/LT Distribution Panels along with related services
  

Strengths of Core4 Engineers

• 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 backed by promoters and senior management expertise.
  

Risks of Core4 Engineers

• They derive a significant portion of their revenues from projects awarded by government and government-owned customers.
  
• Their projects are primarily concentrated in Karnataka.
  
• A substantial portion of their revenue is derived from railway infrastructure projects.
  
• They derive a significant portion of their revenue from a limited number of customers.
  
• Their business is heavily dependent on procurement of construction materials from their suppliers.
  

Source: www.nseindia.com

Notes: (1) The figures for the listed industry peers are based on the Audited Consolidated Financial Statements filed for the financial year ended March 31, 2025.

(2) P / E Ratio has been computed based on their respective closing market price on March 28, 2026, as divided by the Basic EPS as on March 31, 2025.

(3) CMP is the closing prices or the last traded price of respective scripts as on March 28, 2026.

Anchor Investor Bidding Date: TBA

Registrar: Purva Sharegistry (India) Private Limited
Book Running Lead Managers: Socradamus Capital Private Limited

Core4 Engineers Business Model

The company earns its revenue as an Engineering, Procurement, Construction and Commissioning company engaged in providing integrated infrastructure solutions across multiple domains.

Core4 Engineers Growth Trajectory

Core4 Engineers’ Total Income for FY25 was ₹34.598 crores, whereas in FY24, it was ₹33.627 crores.

The Profit After Tax for FY25 was ₹3.809 crores, whereas in FY24, it was ₹2.886 crores.

Their EBITDA for FY25 was ₹6.824 crores, whereas in FY24, it was ₹5.070 crores.

Core4 Engineers Market Position

Over the years, they have built relationships with government organizations, PSUs, utilities, and private enterprises across India.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹34.598 crores, ₹3.809 crores, and ₹6.824 crores, respectively.

How to apply for Core4 Engineers IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.