Core4 Engineers’ IPO is scheduled to open on 23 October with an important application-size distinction: one lot contains 1,200 shares, but the minimum bid is two lots. At the ₹93 upper price, that requires ₹2,23,200, not ₹1,11,600.
The Mysore-based engineering company has set a ₹88–₹93 price band for an entirely fresh-share offer. It plans to use most of the specified funding for additional working capital, the money needed to support day-to-day project execution. The public bidding window is scheduled to close on 27 October 2026.
Core4 IPO: the verified terms
| Field | Disclosed term | Official source |
|---|---|---|
| Issuer, venue and stage | Core4 Engineers Limited; proposed BSE SME listing. Public bidding is scheduled for 23–27 October 2026. | RHP cover |
| Price band and face value | ₹88–₹93 per share; face value ₹10, not the application price. | Issuer’s 19 October advertisement, page 1 |
| Fresh shares versus OFS | Up to 58,94,400 newly issued shares; no offer for sale by existing holders. | RHP cover and printed page 114 |
| Gross offer value at cap price | Up to ₹54.82 crore, calculated as 58,94,400 × ₹93 ÷ 1,00,00,000. This is before issue expenses, not net proceeds. | Share count and price-band advertisement |
| One lot versus minimum application | One lot: 1,200 shares. Minimum bid: 2,400 shares (two lots), costing ₹2,11,200 at ₹88 or ₹2,23,200 at ₹93. | Minimum-bid statement, page 1 |
| Other investor categories | Non-institutional bids are for more than two lots under the RHP. Qualified institutional bidders have a separate allocation category; this report does not infer a universal one-lot minimum. | RHP offer structure |
| Use of company funding | Planned ₹40.48 crore incremental working capital and ₹4.12 crore for property for a manufacturing facility and corporate office; remaining net funds for general corporate purposes within the stated limits. | RHP printed page 114 |
| Indicative post-bid timetable | Allotment basis on/before 28 October; refunds/unblocking and demat credit on/before 29 October; trading on/before 30 October 2026. Not completed events. | RHP printed page 362 |
| Registrar and mandate deadline | Purva Sharegistry (India) Private Limited; UPI mandate deadline 5 p.m. on 27 October 2026. | RHP cover and printed page 362 |
Why a lot is not the minimum application
A lot is the unit in which bids are counted. The issuer’s 19 October advertisement separately sets the minimum at 2,400 shares, followed by multiples of 1,200. The calculation at the cap is 2,400 × ₹93 = ₹2,23,200. A one-lot value of 1,200 × ₹93 = ₹1,11,600 therefore does not meet the announced minimum.
The RHP separates individual, non-institutional and qualified institutional allocation categories. Non-institutional applications are for more than two lots; the relevant eligibility and allocation conditions still apply. An application is not an assurance of allotment.
New company funding, not an existing-holder exit
The RHP provides for up to 58,94,400 new shares and no offer for sale (OFS), which would instead involve existing holders selling their shares. Multiplying the maximum share count by ₹93 produces a gross upper-band value of ₹54.81792 crore, rounded here to ₹54.82 crore. Actual net proceeds will be lower after offer expenses and depend on the final issue price.
The objects table allocates ₹4,048 lakh, or ₹40.48 crore, to incremental working capital and ₹412 lakh, or ₹4.12 crore, to property for a manufacturing facility and corporate office. These are planned uses, not confirmation that the money has been received or spent. The RHP leaves the final net proceeds and general-corporate-purpose amount to be settled after pricing.
What to check next
Core4 describes itself as an engineering, procurement, construction and commissioning business serving railway infrastructure, power transmission and distribution, and water and wastewater treatment. Project execution and customer payments affect the funding needs of such work; the RHP’s risk section should be read alongside its offer terms.
The post-bid dates are expressly indicative. A timetable does not establish that allotment, unblocking, demat credit or exchange trading has happened. The price band is also not a forecast of the market price after listing.
For a separate mainboard example, CapKet’s Paras Healthcare IPO report explains its own fresh-issue and OFS mix. Its lot and application rules should not be transferred to this SME offer.
Sources and observation time
This report checks the exact visibly linked issuer records. Source observation: . This is an observation time, not a new company announcement or completed transaction. AI-assisted source and language screening is not independent human editorial approval.
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