Fixed Price IPO | ₹49 Cr | Listed at BSE SME | Thu, Sep 25, 2025 - Mon, Sep 29, 2025
Earkart IPO is a fixed price issue of ₹49.26 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to ₹44.75 crores and offer for sale of 0.03 crore shares aggregating to ₹4.51 crores.
Earkart IPO bidding started from Sep 25, 2025 and ended on Sep 29, 2025. The allotment for Earkart IPO was finalized on Sep 30, 2025. The shares got listed on BSE SME on Oct 3, 2025.
Earkart IPO price is ₹135 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,70,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹4,05,000.
Sarthi Capital Advisors Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Earkart IPO DRHP for detailed Information.
IPO Open
Thu, Sep 25, 2025
IPO Close
Mon, Sep 29, 2025
Issue Price
₹135 per share
Market Cap (Pre-IPO)
₹185.68 Cr
| IPO Date | 25 to 29 Sep, 2025 |
| Listed on | Fri, Oct 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹135 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 36,49,000 shares (agg. up to ₹49 Cr) |
| Reserved for Market Maker | 1,85,000 shares Rikhav Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 31,30,000 shares (agg. up to ₹42 Cr) |
| Offer for Sale | 3,34,000 shares of ₹10 (agg. up to ₹5 Cr) |
| Net Offered to Public | 34,64,000 shares (agg. up to ₹47 Cr) |
| Share Holding Pre Issue | 1,04,38,932 shares |
| Share Holding Post Issue | 1,37,53,932 shares |
| BSE Script Code | 544549 |
| ISIN | INE1A8F01035 |
Earkart IPO comprises a total issue size of 36,49,000 shares. The net offer to the public is 34,64,000 shares, after excluding 1,85,000 shares allotted on a firm basis. Of the Net offer 17,32,000 (50.00%) allocated to NII 17,32,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 17,32,000 | 50.00% | 47.47% |
| Retail Shares Offered | 17,32,000 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,85,000 | 5.07% | |
| Total Shares Offered | 36,49,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,70,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,70,000 |
| HNI (Min) | 3 | 3,000 | ₹4,05,000 |
Earkart Limited is a HealthTech platform, specializing in hearing aids and related accessories. It offers modern hearing devices, like Receiver-In-Canal (RIC), Invisible (IIC), Behind-The-Ear (BTE), In-The-Ear (ITE), In-The-Canal (ITC) and Completely-In-Canal (CIC).
It also offers and distributes other products like adjustable foldable walkers and Multi-Sensory Integrated Educational Development (MSIED) and Teaching Learning Material (TLM) for physically challenged.
The company sells products through a network of partners and clinics, both domestically and globally. It is also a trusted Government e-Market (GeM) supplier of hearing aids to ALIMCO under Ministry of Social Justice and Empowerment.
In April 2024, the company has launched Shop in Shop (SIS) model, wherein it offers franchise to opticians and ENT/optical clinics. As on date, the company operates 49 SIS clinics across 22 cities in 6 states and 2 Union Territories, i.e., Haryana, Uttar Pradesh, Rajasthan, Punjab, Jharkhand, Delhi, Uttarakhand, and Chandigarh.
Its manufacturing facility is located in Noida, across 4,500 square feet
Competitive Strengths:
Earkart Ltd.'s revenue increased by 35% and profit after tax (PAT) rose by 125% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 30.29 | 19.25 | 14.73 |
| Total Income | 43.19 | 31.97 | 28.97 |
| Profit After Tax | 6.88 | 3.06 | 1.31 |
| EBITDA | 9.76 | 3.55 | 1.61 |
| NET Worth | 19.92 | 13.03 | 6.56 |
| Reserves and Surplus | 9.48 | 12.97 | 6.49 |
| Total Borrowing | 4.96 | 4.00 | 1.21 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding incremental working capital requirements of our Company | 21.10 |
| 2 | Funding capital expenditure requirements for setting of Shop in Shop (SIS) Business Model in ENT/Ophthalmic Clinics across India and Setting up of Infrastructure for operational activities | 17.33 |
| 3 | General Corporate Purposes | 0.63 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 34.55% |
| ROCE | 47.32% |
| Debt/Equity | 0.26 |
| RoNW | 34.55% |
| PAT Margin | 15.93% |
| EBITDA Margin | 22.65% |
| Price to Book Value | 7.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.59 | 5.00 |
| P/E (x) | 20.48 | 26.98 |
| Promoter Holding | 78.75% | 57.34% |
| Market Cap | ₹185.68 Cr. |
The Earkart IPO is subscribed 1.28 times on September 29, 2025 5:05:35 PM (Day 3). The public issue subscribed 0.35 times in the individual investors category, [.] times in the QIB category, and 2.20 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| NII* | 2.20 | 17,32,000 | 38,19,000 | 0 |
| Individual Investor | 0.35 | 17,32,000 | 6,00,000 | 0 |
| Total | 1.28 | 34,64,000 | 44,19,000 | 488 |
Total Applications: 488
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission | 5.55 |
| 2 | Fees Payable to Registrar to the Offer | 0.03 |
| 3 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.35 |
| 4 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.10 |
| 5 | Fees payable to Legal Advisors | 0.07 |
| 6 | Fees payable to Peer Review Auditor | 0.03 |
| 7 | Fees Payable to Market Maker (for three years) | 0.09 |
| 8 | Escrow Bank Fees | 0.05 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹135.00 |
| Open | ₹135.50 |
| Low | ₹135.50 |
| High | ₹142.25 |
| Last Trade | ₹142.25 |
Lead Manager Reports
Earkart IPO is a SME IPO of 36,49,000 equity shares of the face value of ₹10 aggregating up to ₹49 Crores. The issue is priced at ₹135 per share. The minimum order quantity is 1000.
The IPO opens on Thu, Sep 25, 2025, and closes on Mon, Sep 29, 2025.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Earkart IPO using UPI as a payment gateway. Zerodha customers can apply in Earkart IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Earkart IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Earkart IPO opens on Thu, Sep 25, 2025 and closes on Mon, Sep 29, 2025.
Earkart IPO lot size is 1000, and the minimum amount required for application is ₹2,70,000, with 2 lots being the minimum application size.
You can apply in Earkart IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Earkart IPO will be done on Tuesday, September 30, 2025, and the allotted shares will be credited to your demat account by Wed, Oct 1, 2025. Check the Earkart IPO allotment status.
The Earkart IPO listing date is on Fri, Oct 3, 2025.
