Earkart IPO
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Schedule of Earkart
| Issue open date | 25 Sep 2025 |
| Issue close date | 29 Sep 2025 |
| UPI mandate deadline | 29 Sep 2025 (5 PM) |
| Allotment finalization | 30 Sep 2025 |
| Refund initiation | 30 Sep 2025 |
| Share credit | 01 Oct 2025 |
| Listing date | 03 Oct 2025 |
| Mandate end date | 15 Oct 2025 |
| Lock-in end date for anchor investors (50%) | 30 Oct 2025 |
| Lock-in end date for anchor investors (remaining) | 29 Dec 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Earkart
Earkart is a technology-driven hearing healthcare solutions provider that operates India’s largest all-brand hearing clinic network with over 1,500+ clinics across the country. Founded in 2021 by Rohit Misra and Priyadarshi Jha, the company focuses on making high-quality hearing healthcare solutions affordable and accessible through its innovative Shop-in-Shop business model within ENT and Ophthalmic clinics. The company has supplied over 100,000 hearing aids and operates proprietary technologies including the OMNI Audiometer, offering products under EQFY, Fame, and Radius brands with strong government partnerships through GeM and ALIMCO.
Financials of Earkart
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹49.26 crores |
| Fresh Issue | ₹44.75 crores |
| Offer for sale | ₹4.51 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding incremental working capital requirements | 21.10 (47.1%) |
| 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 (38.72%) |
|
General corporate purposes |
0.63 (1.4%) |
| Miscellaneous | 5.69 (12.71%) |
Strengths
- Strong financial performance with 35% revenue growth and 125% PAT growth in FY25
- Proprietary technology including OMNI Audiometer and remote programming capabilities
- Diversified product portfolio under EQFY, Fame, and Radius brands catering to different segments
- Government partnerships through GeM and ALIMCO ensuring institutional sales channels
- Innovative Shop-in-Shop model reducing operational costs and improving accessibility
Risks
- Heavy dependence on clinic network partners for distribution and customer reach
- Intense competition from established international and domestic hearing aid manufacturers
- Regulatory changes in healthcare sector could impact business operations and compliance costs
- Technology disruption risk from new entrants with advanced hearing solutions
- Concentration risk in hearing aid segment without diversification into broader healthcare services
Allotment Status for Earkart
To check your allotment status – click here.
Subscription Figures for Earkart
As per media reports (Link), the Grey Market Premium (GMP) of Earkart is reported at ₹0 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on September 26, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| NII | 17.32 | 0.74 | 0.04x |
| Retail | 17.32 | 0.74 | 0.04x |
| Total | 34.64 | 1.44 | 0.04x |