Core4 Engineers IPO GMP Today

The issue

Core4 Engineers Limited is a Mysuru, Karnataka-based engineering, procurement, construction, and commissioning (EPCC) company providing integrated infrastructure solutions. The company executes projects across railway electrification, power transmission and distribution, and water and wastewater treatment, while also manufacturing high-tension and low-tension electrical panels, compact substations, and automation systems. It serves government agencies, public sector undertakings, utilities, and private contractors.

Core4 Engineers Limited is a SME issue on BSE. The price band is ₹88–₹93. One lot is 1,200 shares, and the smallest application is 2 lots (2,400 shares, ₹2,23,200 at the top of the band). The issue size is ₹54.82 crore.

The issue is entirely a fresh issue of equity shares aggregating to ₹54.82 crore. Net proceeds will be utilized to fund capital expenditure for acquiring property to establish a new manufacturing facility and corporate office, finance incremental working capital requirements, and cover general corporate purposes.

For FY26, revenue from operations surged by 167.4% to ₹91.34 crore from ₹34.16 crore in FY25. Profit after tax (PAT) increased by 224.7% to ₹12.37 crore in FY26 compared to ₹3.81 crore in FY25.

Core4 Engineers listed on 30 Oct 2026 at −20.00% over the ₹93 issue price. The last grey-market premium before listing was ₹0 (0.00%), so the listing came in below what the grey market implied.

Latest overall subscription on this edition is 5.44×. A multiple above 1.00× means applications for more shares than are on offer; it does not mean you will get shares. Retail allotment in an oversubscribed category is a lottery for one lot. The split across QIB, NII and retail is omitted unless it belongs to the same snapshot as this total.

The company has experienced persistent negative cash flows from operating activities across recent fiscal years due to significant working capital tied up in trade receivables. It also faces substantial customer and geographic concentration in Karnataka, heavy dependence on sub-contracting from private engineering firms, and ongoing contract arbitrations.

The timetable on the record is open 23 Oct 2026, close 27 Oct 2026, allotment 28 Oct 2026, listing 30 Oct 2026. The registrar is the one named in the red herring prospectus. This sheet does not guess. After listing, this page stays up. The grey-market mark becomes history, and the listing print replaces the expected-listing sketch. Do not apply because a premium looks large. Read the prospectus.

Company profile: AI analysis of the offer document and news coverage (2 Nov 2026). Sources: aninews.in, tracxn.com, business-standard.com, dealroom.co, zerodha.com. Check the offer document before relying on a figure.