# Core4 Engineers Limited: IPO analysis > Core4 Engineers Limited (CIN U45309KA2022PLC157463) has filed a SEBI filings with SEBI for an IPO comprising a fresh issue of 58,94,400 shares, priced at ₹88.00 to ₹93.00 per share. In FY26 it reported revenue of ₹91 Cr (+167.4% on FY25) and a net profit of ₹12 Cr. Promoters hold 82.1% before the IPO. Our earlier look-up of its claims found no medium or high concerns across 5 claims looked up. - Page: https://ipo.innerkore.com/in/company/U45309KA2022PLC157463/core4-engineers-limited/ - CIN: U45309KA2022PLC157463 - Last updated: 22 Oct 2026 ## Key facts - **Company:** Core4 Engineers Limited - **CIN:** U45309KA2022PLC157463 - **Filing stage:** Amendments only - **Latest SEBI filing:** 22 Oct 2026 - **Price band:** ₹88.00 to ₹93.00 per share - **Bidding opens:** 23 Oct 2026 - **Bidding closes:** 27 Oct 2026 - **Listing on:** BSE - **Revenue FY26:** ₹91 Cr - **Revenue growth:** +167.4% - **Net profit FY26:** ₹12 Cr - **Revenue CAGR FY24 to FY26:** 65.2% - **Promoter holding (pre-IPO):** 82.1% - **Lead managers:** Socradamus Capital Private Limited - **Registrar:** Private Limited - **Earlier look-up flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 15.6x P/E. From BSE's price band, on FY26 profit; 6.2x book value. - **Growth** (looks fine): 65.2% a year. Sales FY24 to FY26; latest year +167.4%. - **Profitability** (looks fine): 13.5% net margin. FY26; operating margin steady. - **Debt** (look closer): 1.02x equity. ₹31.6 crore borrowed at the end of FY26. - **Profit into cash** (concern): -87% of profit. Operations brought in ₹-10.8 crore against ₹12.4 crore of profit in FY26. - **One-off income** (looks fine): 3% of profit. Other and one-off income is 3% of pre-tax profit. - **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. (converted using BSE's price band) - **Red flags** (looks fine): None serious. 5 claims looked up earlier: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | 3M Jun-26 | |---|---:|---:|---:|---:| | Sales | 33 | 34 | 91 | 46 | | Sales growth | – | 2.1% | 167.4% | – | | Operating profit | 5.5 | 7.2 | 19 | 9.3 | | Operating margin | 16.5% | 21.1% | 21.0% | 20.4% | | Net profit | 2.9 | 3.8 | 12 | 6.2 | | Net margin | 8.6% | 11.2% | 13.5% | 13.5% | | Net worth | 6.4 | 19 | 31 | 37 | | Borrowings | 17 | 19 | 32 | 41 | | Return on equity | 44.9% | 20.4% | 39.8% | – | ## Use of proceeds (fresh issue) - Funding capital expenditure for the acquisition of a property comprising land and an manufacturing facility and corporate office;: ₹4.1 crore - Funding incremental working capital requirements; and: ₹40 crore - General corporate purposes#: amount not fixed yet ## Claims looked up earlier - **NONE** (LitigationStatus): The Company has entered into an agreement with Central Depositary Services Limited dated May 19, 2025.. The search results provide various documents and information related to Central Depositary Services Limited (CDSL), including litigation, adjudication orders, and general investor complaints. However, none of the provided snippets directly corroborate or contradict the specific claim that Core4 Engineers Limited entered into an agreement with CDSL on May 19, 2025. - **NONE** (LitigationStatus): A notice was issued to a Director under Section accounts, 274 read with Section 272A(1)(d) of the Income-tax Act, 1961 alleging non-compliance with notices during assessment proceedings.. The search results reference legal cases and filings involving M/s. Core 4 Engineers Pvt Ltd and Core4 Engineers Limited, but none of the provided snippets directly confirm or deny the specific allegation regarding a notice issued under Section accounts, 274 read with Section 272A(1)(d) of the Income-tax Act, 1961. - **NONE** (LitigationStatus): The Company has not been referred to NCLT under the Insolvency Bankruptcy Code, 2016.. The search results indicate that there are legal cases involving Core4 Engineers, such as a dispute with the Union of India and police FIRs, suggesting past legal proceedings. However, the results do not explicitly confirm or deny a specific referral to NCLT under the Insolvency Bankruptcy Code, 2016. - **NONE** (LitigationStatus): Outstanding unsecured borrowings from Iifl Finance Limited were 22.65 Lakhs as on June 30, 2026.. The search results indicate that there are various legal proceedings and disputes involving IIFL Finance Limited, including court cases and issues related to repayment defaults and settlement agreements. However, none of the provided snippets directly confirm or deny the specific figure of 22.65 Lakhs outstanding unsecured borrowings as of June 30, 2026. - **NONE** (LitigationStatus): The Company was formed by converting the erstwhile Core4 Engineers Partnership firm to Core4 Engineers Private Limited on February 03, 2022.. The provided search results do not contain direct information confirming or denying the formation of Core4 Engineers Limited by converting a partnership firm on February 03, 2022. The search results reference various legal cases involving different entities and dates, which do not directly corroborate the specific claim. ## Common questions ### How big is the Core4 Engineers Limited IPO? Core4 Engineers Limited's IPO comprises a fresh issue of 58,94,400 shares, according to its SEBI filings. The price band is ₹88.00 to ₹93.00 per share. ### What are Core4 Engineers Limited's revenue and profit? Core4 Engineers Limited reported revenue from operations of ₹91 Cr in FY26, +167.4% versus FY25. Net profit was ₹12 Cr (FY25: ₹3.8 Cr). Revenue grew at a compound rate of 65.2% a year from FY24 to FY26. Figures are read from the DLoF, as printed there. ### How much do promoters own in Core4 Engineers Limited? Promoters hold 82.1% of Core4 Engineers Limited before the IPO. ### How will Core4 Engineers Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding capital expenditure for the acquisition of a property comprising land and an manufacturing facility and corporate office; (₹4.1 Cr); Funding incremental working capital requirements; and (₹40 Cr); General corporate purposes (amount not fixed yet). ### What are the red flags in Core4 Engineers Limited's filing? Earlier, we looked up 5 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Core4 Engineers Limited do? You might have heard that Core4 Engineers Limited just signed a deal with CDSL, but the only thing we actually know for sure is that CDSL is currently handling a separate, unrelated case in court. ### Who manages the Core4 Engineers Limited IPO? Book running lead managers: Socradamus Capital Private Limited. Registrar to the offer: Private Limited. Shares are proposed to list on BSE. ### Where can I read the original Core4 Engineers Limited IPO documents? All 1 filing for Core4 Engineers Limited (DLoF) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Core4 Engineers Limited](https://www.bseindia.com/downloads/ipo/Core4 Engineers Limited_RHP&GID_221020261932.zip) (Draft letter of offer, filed 22 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.