SME IPO, March 31 -- Core4 Engineers, an engineering, procurement, construction and commissioning (EPCC) company, has filed its Draft Red Herring Prospectus (DRHP) with BSE SME to raise funds via initial public offering (IPO).

According to the DRHP, the offer is entirely a fresh issue of up to 58,94,400 equity shares of face value of Rs. 10 each, with no offer-for-sale component. This means all proceeds will be received by the company.

The proceeds from the SME IPO will be allocated toward capital expenditure, including the acquisition of land and an existing building to set up a new manufacturing facility and corporate office. The funds will also support additional working capital needs, general corporate purposes, and cover issue-rela...