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Earkart IPO
Price Band
₹
Issue Size
₹49.26 Cr
Lot Size
1,000 shares
Min Investment
₹270,000
2 LOTS MIN
GMP
—
Issue Price
₹135.0
Earkart IPO AI Summary
- Earkart IPO is listed on BSE SME in the Medical Equipment & Supplies sector.
- Subscription window: 25 Sep–29 Sep 2025, listing on 03 Oct 2025.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Earkart IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 29 Sep 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Earkart IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
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: Various types of hearing aids products Multi-channel product distribution network: Online, offline, and B2G sales Continued focus on innovation and technology
Company Financials (₹ Cr)
As of 2025-03-31
| 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 |
Key Ratios
EPS
₹6.59
NAV
₹19.08
ROE
34.55%
ROCE
47.32%
RoNW
34.55%
P/B Value
7.08
P/E Ratio
20.48
Market Cap
₹185.68 Cr
PAT Margin
15.93%
Debt/Equity
0.26
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|
| OSEL Devices Limited | 18.58% | 16.91 | 14.31 |
| Earkart Limited This IPO | 41.77% | — | 6.59 |
Promoters
Rohit Misra and Monika Misra
Objects of the Issue
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 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 4 Issue Expenses 6.26 Total 45.33
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹28.97 Cr in the year ending 31 Mar 2023, rising to ₹31.97 Cr by 31 Mar 2024, and further increasing to ₹43.19 Cr by 31 Mar 2025.
Profit Trend
Profit after tax was ₹1.31 Cr in the year ending 31 Mar 2023, increasing to ₹3.06 Cr by 31 Mar 2024, and further rising to ₹6.88 Cr by 31 Mar 2025.
Valuation
Earkart Limited has a Return on Net Worth (RoNW) of 41.77% with an Earnings Per Share (EPS) of ₹6.59, which gives it a P/E ratio of 20.48. In comparison, peers like OSEL Devices Limited have a RoNW of 18.58% and a P/E of 16.91. This positions Earkart at a higher implied P/E compared to its peer group.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. Grey market premium (GMP) is the price at which shares are traded in this market, indicating investor sentiment about the upcoming listing price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs in sectors like HealthTech, which can be subject to rapid changes in technology and consumer preferences.
IPO Timeline, Explained
The IPO opens on 25 September 2025 and closes on 29 September 2025, with allotment expected on 30 September 2025 and listing on 3 October 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by various market factors, including demand and supply dynamics on the listing day.
This evaluation is generated from Earkart's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
When does Earkart IPO open and close?
Earkart IPO opens on 25 September 2025 and closes on 29 September 2025.
When does Earkart IPO list on the stock exchange?
Earkart IPO listed on 03 October 2025 at ₹135.0.
What is the lot size for Earkart IPO?
The lot size for Earkart IPO is 1000 shares, requiring a minimum investment of ₹270,000 (2 lots).
What is the lot size for the Earkart IPO?
The lot size for the Earkart IPO is 1000 shares.
What is the minimum investment required for the Earkart IPO?
The minimum investment required for the Earkart IPO is ₹2,70,000.
What is the issue price of the Earkart IPO?
The issue price of the Earkart IPO is ₹135.0 per share.
When is the listing date for the Earkart IPO?
The listing date for the Earkart IPO is 3 October 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which shares are likely to list on the stock exchange.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Sep 2025
Close
29 Sep 2025
Allotment
30 Sep 2025
Listing
03 Oct 2025
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