Core4 Engineers IPO Subscription Status: Just 0.08x After Day 1, Closes 27 October
Core4 Engineers is the only IPO open for subscription in India right now, and demand so far has been muted. The BSE SME issue was subscribed just 0.08 times on its opening day, Friday 23 October 2026, with retail investors leading a very slow start. With markets closed over the weekend, those Day 1 figures are frozen — the real test comes on Monday and Tuesday, when the issue closes.
This is the midday subscription-status update for 25 October 2026: the latest category-wise numbers, the full IPO details, what the company does, and the busy week ahead for the primary market.
Core4 Engineers IPO Subscription Status (Day 1, 23 October)
Subscription figures below are the exchange-reported numbers for the close of bidding on Day 1 (23 October), as carried by IPO trackers. No bidding takes place on Saturday or Sunday, so the numbers are unchanged as of Sunday 25 October.
| Category | Subscription (Day 1) | Quota |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 0.00x | 50% |
| Non-Institutional Investors (NII) | 0.05x | 15% |
| Retail Individual Investors (RII) | 0.14x | 35% |
| Total | 0.08x | 100% |
Retail demand at 0.14x is the strongest of the three categories so far, while institutional investors have not yet bid at all. That pattern is not unusual for SME issues — QIB and HNI money typically arrives on the final day — but with only two bidding days left (26 and 27 October), the issue needs a sharp pick-up to get fully subscribed.
Core4 Engineers IPO Details
| Detail | Information |
|---|---|
| Company | Core4 Engineers Limited |
| Issue type | BSE SME IPO (fresh issue) |
| Issue size | Around ₹54.82 crore (per IPO trackers) |
| Price band | ₹88 – ₹93 per share |
| Lot size | 2,400 shares (₹2,23,200 at the upper band) |
| Open date | 23 October 2026 |
| Close date | 27 October 2026 |
| Allotment date | 28 October 2026 |
| Listing date | 30 October 2026 (expected, BSE SME) |
| Grey market premium (GMP) | No premium reported on trackers as of 25 October (unofficial) |
What Core4 Engineers Does
Core4 Engineers is a Mysuru-headquartered engineering, procurement, construction and commissioning (EPCC) company. Incorporated in 2022 — building on a partnership firm operating since 2014 — it executes end-to-end infrastructure projects across five verticals:
- Railway electrification and railway infrastructure
- Extra-high-voltage transmission and distribution
- Water and wastewater treatment
- Automation and SCADA systems
- In-house manufacturing of HT/LT electrical panels and compact substations
Its clients include Indian Railways, government-owned companies and private infrastructure contractors. Per IPO trackers, the company reported sales of around ₹91 crore and net profit of around ₹12 crore in FY26, with an order book of roughly ₹286 crore as of 30 June 2026. The IPO proceeds are earmarked mainly for working capital (around ₹40 crore) and a new manufacturing facility and corporate office.
What to Watch on the Final Two Days
- Monday 26 October: the first full bidding day after the weekend — watch whether QIB bids finally appear, since institutional participation usually sets the tone for SME issues.
- Tuesday 27 October: the issue closes at 5 PM. SME IPOs often see most of their demand on the last day, so the final subscription figure could look very different from 0.08x.
- GMP: no grey market premium is being reported for Core4 so far — a flat grey market suggests listing-day gains are far from assured.
- Undersubscription risk: if the issue stays below 1x, the IPO can still proceed (SME rules allow underwriting support), but weak demand is a caution flag for applicants.
The Week Ahead: A Packed IPO Calendar
Core4 is not the only action this week. The primary market calendar from Monday is one of the busiest of the month:
| Date | Event |
|---|---|
| 26 October | Jio Platforms and Paras Healthcare allotment; EAAA India Alternatives IPO opens |
| 27 October | Core4 Engineers IPO closes; BLS Polymers, SFC Environmental and Wiscon Industries IPOs open |
| 28 October | Jio Platforms and Paras Healthcare list; Core4 Engineers allotment; M.K. Sons Fine Jewels IPO opens |
| 30 October | Core4 Engineers lists on BSE SME (expected) |
Read our related coverage: IPO GMP Today (25 Oct): Jio at 22%, BLS Leads Upcoming, Jio IPO Allotment 26 Oct: Check Status, GMP & Listing, BLS Polymers IPO: ₹255 Cr Issue, Price Band & Dates and SFC Environmental IPO: Price Band, Dates, GMP & Review.
FAQs
What is the Core4 Engineers IPO subscription status today?
As of the close of Day 1 (23 October 2026), the IPO is subscribed 0.08 times overall — QIB 0.00x, NII 0.05x and retail 0.14x. No bidding happens on weekends, so the figure is unchanged on Sunday 25 October.
When does the Core4 Engineers IPO close?
The issue closes on Tuesday 27 October 2026 at 5 PM.
When is the Core4 Engineers IPO allotment and listing?
Allotment is expected on 28 October 2026 and listing on BSE SME is expected on 30 October 2026.
What is the Core4 Engineers IPO price band and lot size?
The price band is ₹88–₹93 per share and the lot size is 2,400 shares, so one lot costs ₹2,23,200 at the upper band.
Is there a GMP for the Core4 Engineers IPO?
No grey market premium is being reported on IPO trackers as of 25 October. GMP is unofficial, market-reported data and can change quickly.
Conclusion
Core4 Engineers has had the slowest of starts at 0.08x, but SME IPOs are routinely decided on their final day — Monday and Tuesday will determine whether this issue gets over the line. Applicants should weigh the weak early demand and flat grey market against the company's railway and power-infrastructure order book before bidding. We will update the final subscription figures once the issue closes on 27 October.
Disclaimer: Subscription figures are exchange-reported data as carried by IPO trackers for 23 October 2026; GMP figures are unofficial and subject to change. This article is for information only and is not investment advice.