Earkart IPO

Earkart Limited is a HealthTech platform that designs, manufactures, and distributes hearing aids and related assistive products. Its portfolio includes Receiver-In-Canal (RIC), Invisible (IIC), Behind-The-Ear (BTE), In-The-Ear (ITE), In-The-Canal (ITC), and Completely-In-Canal (CIC) devices. The company also supplies walkers, multi-sensory educational kits, and teaching materials for differently-abled individuals.

Earkart sells through online and offline channels, as well as B2G partnerships. It is a recognised supplier on the Government e-Marketplace (GeM) and works with ALIMCO under the Ministry of Social Justice and Empowerment. The firm also operates a “Shop in Shop” model, running 49 SIS clinics across 22 cities in 6 states and 2 Union Territories.Its Noida-based manufacturing facility spans 4,500 square feet.

Earkart Limited IPO Overview

Earkart IPO is a fixed price issue of ₹49.26 crores, comprising a fresh issue of 0.33 crore shares worth ₹44.75 crores and an offer for sale of 0.03 crore shares valued at ₹4.51 crores. The subscription window will be open from 25 September 2025 to 29 September 2025, with allotment expected to be finalised on 30 September 2025. The shares are proposed to be listed on BSE SME, with a tentative listing date set for 3 October 2025. Priced at ₹135 per share, the IPO requires a minimum application of 1,000 shares, translating to an investment of ₹2,70,000 for retail investors at two lots (2,000 shares). For HNIs, the minimum application is three lots, amounting to 3,000 shares or ₹4,05,000. Sarthi Capital Advisors Pvt. Ltd. is the book running lead manager, Skyline Financial Services Pvt. Ltd. is the registrar, and Rikhav Securities Ltd. acts as the market maker.

Earkart Limited IPO Details

Particulars	Details
IPO Date	25 September 2025 to 29 September 2025
Listing Date	3 October 2025
Face Value	₹10 per share
Issue Price	₹135 per share
Lot Size	1,000 Shares
Total Issue Size	36,49,000 shares (aggregating to ₹49.26 Cr)
Fresh Issue (Excl. MM)	31,30,000 shares (₹42.26 Cr)
Offer for Sale	3,34,000 shares (₹4.51 Cr)
Reserved for Market Maker	1,85,000 shares (₹2.50 Cr)
Issue Type	Fixed Price IPO
Listing At	BSE SME
Shareholding Pre-Issue	1,04,38,932 shares
Shareholding Post-Issue	1,37,53,932 shares

Earkart Limited IPO Reservation

Investor Category	Shares Offered
Market Maker	1,85,000 (5.07%)
NII (HNI)	17,32,000 (47.47%)
Retail	17,32,000 (47.47%)
Total	36,49,000 (100.00%)

Earkart Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	2,000	₹2,70,000
Retail (Max)	2	2,000	₹2,70,000
HNI (Min)	3	3,000	₹4,05,000

Earkart Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	78.75%
Post-Issue	57.34%

Key Performance Indicators (KPI)

KPI	Value
ROE	34.55%
ROCE	47.32%
Debt/Equity	0.26
RoNW	34.55%
PAT Margin	15.93%
EBITDA Margin	22.65%
Price/Book	7.08

Earkart Limited IPO Objectives

• Funding incremental working capital requirements – ₹21.10 Cr

• Setting up Shop-in-Shop (SIS) clinics and infrastructure – ₹17.33 Cr

• General corporate purposes – ₹0.63 Cr

Earkart Limited Financials (₹ in Crores, Restated)

Particulars	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
Reserves & Surplus	9.48	12.97	6.49
Total Borrowings	4.96	4.00	1.21