Core4 Engineers raised Rs 54.82 crore through an entirely fresh issue of 58.94 lakh equity shares priced up to Rs 93 per share. The issue achieved an overall subscription of 5.44 times, driven predominantly by high-net-worth bidding. Most of the net proceeds will support incremental working capital requirements alongside establishing a new corporate office and manufacturing site. Operationally, the firm maintains 62 payroll employees alongside 400 floating project labourers to execute its infrastructure projects.
Key points
Strong non-institutional demand helped achieve an overall subscription rate of 5.44 times…: Strong non-institutional demand helped achieve an overall subscription rate of 5.44 times the initial offering.
Capital raised will strengthen operational liquidity and fund new real estate for manufac…: Capital raised will strengthen operational liquidity and fund new real estate for manufacturing and corporate operations.
The company enters the public market following rapid financial expansion across its core…: The company enters the public market following rapid financial expansion across its core engineering and infrastructure businesses.
Sources checked by our analysis pipeline: 1
The public issue received bids across all investor categories, with the non-institutional investors (NII) segment leading the demand.
The IPO was subscribed 5.44 times overall. The individual investors' category was subscribed 2.72 times, while the qualified institutional buyers (QIBs), excluding anchor investors, subscribed 5.06 times. The NII category saw a subscription of 12.26 times.
Core4 Engineers launched its Rs 54.82 crore IPO as an entirely fresh issue of 58.94 lakh shares. The public issue opened on October 23 and closed on October 27, 2026.
The company fixed the IPO price band at Rs 88-93 per share, with a lot size of 1,200 shares. Retail investors were required to apply for a minimum of two lots, or 2,400 shares, translating into an investment of Rs 2,23,200 at the upper end of the price band.
For high-net-worth individual (HNI) investors, the minimum application size was three lots, or 3,600 shares, amounting to Rs 3,34,800.
Socradamus Capital Pvt. Ltd. acted as the book-running lead manager for the issue, while Purva Sharegistry (India) Pvt. Ltd. was appointed as the registrar. Mansi Share & Stock…
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