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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 opened for subscription on Sep 25, 2025 and will close on Sep 29, 2025. The allotment for the Earkart IPO is expected to be finalized on Sep 30, 2025. Earkart IPO will list on BSE SME with a tentative listing date fixed as Oct 3, 2025.
Earkart IPO price is ₹135.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,70,000.00 (2,000 shares) (based on upper price). The minimum lot size investment for 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 Date | September 25, 2025 to September 29, 2025 |
| Listing Date | October 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price Final | ₹135 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 36,49,000 shares (aggregating up to ₹49.26 Cr) |
| Reserved for Market Maker | 1,85,000 shares Rikhav Securities Ltd. (aggregating up to ₹2.50 Cr) |
| Fresh Issue (Ex Market Maker) | 31,30,000 shares (aggregating up to ₹42.26 Cr) |
| Offer for Sale | 3,34,000 shares of ₹10 (aggregating up to ₹4.51 Cr) |
| Net Offered to Public | 34,64,000 shares (aggregating up to ₹46.76 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,04,38,932 shares |
| Share Holding Post Issue | 1,37,53,932 shares |
Earkart IPO offers total 36,49,000 shares. Out of which 17,32,000 (47.47%) allocated to NII 17,32,000 (47.47%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,85,000 (5.07%) |
| NII (HNI) Shares Offered | 17,32,000 (47.47%) |
| Retail Shares Offered | 17,32,000 (47.47%) |
| Total Shares Offered | 36,49,000 (100.00%) |
Earkart IPO opens on September 25, 2025, and closes on September 29, 2025.
| IPO Open Date | Thu, Sep 25, 2025 |
| IPO Close Date | Mon, Sep 29, 2025 |
| Tentative Allotment | Tue, Sep 30, 2025 |
| Initiation of Refunds | Wed, Oct 1, 2025 |
| Credit of Shares to Demat | Wed, Oct 1, 2025 |
| Tentative Listing Date | Fri, Oct 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 29, 2025 |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 |
| Market Capitalization | 185.68 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.59 | 5.00 |
| P/E (x) | 20.48 | 26.98 |
The Company Earkart IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] EL is engaged in manufacturing and marketing of modern hearing aids and related accessories across India. It marked growth in its top and bottom lines for the reported periods. Bumper top and bottom lines for FY25 is surprising. Based on its recent financial data, the issue appears aggressively priced. Well-informed/cash surplus investors may park moderate fund for medium term. Read detail review...
| Listing Date | October 3, 2025 |
| BSE Script Code | 544549 |
| NSE Symbol | |
| ISIN | INE1A8F01035 |
| Final Issue Price | ₹135 per share |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹135.00 |
| Open | ₹135.50 |
| Low | ₹135.50 |
| High | ₹142.25 |
| Last Trade | ₹142.25 |
Earkart Ltd.
Shop No. 8-P, Street No. 6,
Vasundhara Enclave,
East Delhi, New Delhi, 110096
Phone: 0120-4102857
Email: cs@earkart.in
Website: https://www.earkart.in/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Earkart IPO is a SME IPO of 36,49,000 equity shares of the face value of ₹10 aggregating up to ₹49.26 Crores. The issue is priced at ₹135 per share. The minimum order quantity is 1000.
The IPO opens on September 25, 2025, and closes on September 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 September 25, 2025 and closes on September 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 Wednesday, October 1, 2025. Check the Earkart IPO allotment status.
The Earkart IPO listing date is on Friday, October 3, 2025.
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