Earkart
September 25, 2025 – September 29, 2025
| Price | ₹135 - ₹135 |
| GMP Rumors * | ₹0 |
|---|---|
| Lot size | 1000 |
| Allotment | Sep 30, 2025 |
| Listing | Oct 3, 2025 |
Earkart Subscription
Last updated on 26-Sep-2025 16:32:18
| Category | Offered | Applied | Times |
|---|---|---|---|
| HNIs | 1732000 | 74000 | 0.04 |
| Individual | 1732000 | 70000 | 0.04 |
| Total | 3464000 | 144000 | 0.04 |
Application-Wise Breakup  | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (3-10L) | 577 | 7 | 0.01 |
| Individual | 866 | 35 | 0.04 |
Earkart Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 2000 | 270000 | 866 |
| HNI | 3 | 3000 | 405000 | 577 |
Earkart Reservation
| Category | Shares Offered | % |
|---|---|---|
| HNI | 1732000 | 47.47% |
| INDIVIDUAL | 1732000 | 47.47% |
| Market Maker | 185000 | 5.07% |
| Total | 3649000 | 100% |
Earkart About
IPO Details
| Total Issue Size | 36,49,000 shares (aggregating up to ₹49.26 Cr) |
| Fresh Issue | 33,15,000 shares (aggregating up to ₹44.75 Cr) |
| Offer for Sale | 3,34,000 shares (aggregating up to ₹4.51 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 |
| Reserved for Market Maker | 1,85,000 shares (aggregating up to ₹2.50 Cr) |
| Market Maker | Rikhav Securities Ltd. |
Key Performance Indicator (KPI)
| KPI | FISCAL-25 | FISCAL-24 | FISCAL-23 |
|---|---|---|---|
| ROE | 34.55% | 23.46% | 19.99% |
| ROCE | 47.32% | 27.44% | 23.00% |
| EPS (BASIC) | 6.59 | 2.03 | 0.87 |
| P/E Pre IPO | 20.48 | ||
| P/E Post IPO | 26.98 |
Company Financial (In ₹Crore)
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| 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 | 1.21 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Earkart Limited | - | - | 10.00 |
| OSEL Devices Limited | 16.91 | 242.05 | 10.00 |
Peer Comparision (Financial Performance)
| Company | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|
| Earkart Limited | 41.77 | 6.59 |
| OSEL Devices Limited | 18.58 | 14.31 |
About Company
Earkart Limited, incorporated as a HealthTech platform, focuses on hearing aids and related accessories. Its product range includes modern hearing devices such as:
- Receiver-In-Canal (RIC)
- Invisible (IIC)
- Behind-The-Ear (BTE)
- In-The-Ear (ITE)
- In-The-Canal (ITC)
- Completely-In-Canal (CIC)
In addition, the company distributes products like adjustable foldable walkers, Multi-Sensory Integrated Educational Development (MSIED) kits, and Teaching Learning Material (TLM) designed for the physically challenged.
Earkart markets its products through a strong network of partners and clinics, both in India and abroad. It is also a trusted Government e-Market (GeM) supplier, providing hearing aids to ALIMCO under the Ministry of Social Justice and Empowerment.
In April 2024, the company introduced the Shop-in-Shop (SIS) model, offering franchises to opticians and ENT/optical clinics. Currently, it operates 49 SIS clinics across 22 cities in 6 states and 2 Union Territories, including Haryana, Uttar Pradesh, Rajasthan, Punjab, Jharkhand, Delhi, Uttarakhand, and Chandigarh.
The company’s manufacturing facility is based in Noida, spanning 4,500 sq. ft.
Strength
Diverse Product Range: Offers a wide variety of hearing aid products to cater to different customer needs.
Multi-Channel Distribution: Strong distribution network across online, offline, and government (B2G) channels.
Focus on Innovation: Continual emphasis on technology and innovative solutions in hearing aids.
Weakness
High Dependence on Government Orders: A large share of revenue comes from government institutions (86.56% in FY23, 75.85% in FY24, and 69.32% in FY25). Failure to secure similar contracts in the future could adversely impact business and financial results.
Regulatory Compliance Risks: The business is subject to complex laws and regulations. Compliance requires significant time and cost, and any adverse regulatory action may negatively affect operations, cash flows, and financial condition.
Dependence on Third-Party Suppliers: Manufacturing of hearing aids relies on domestic and international third-party suppliers for raw materials and components. Any disruption in supply may affect production and business performance.
Earkart Lead Manager(s)
Earkart Address
Shop No. 8-P, Street No. 6,
Vasundhara Enclave,
East Delhi, Delhi
East Delhi, New Delhi, 110096
Phone: 0120-4102857
Email: cs@earkart.in
Website: https://www.earkart.in/
Earkart Registrar
Earkart Reviewers
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