Powerica IPO Opens On 24 March, Sets ₹375–395 Price Band

Powerica Ltd, specialising in power solutions and headquartered in Mumbai, has declared the price band for its forthcoming initial public offering (IPO) worth ₹1,100 crore. The company plans to sell shares in the band of ₹375 to ₹395 apiece, with the IPO opening for subscription on 24 March.

The Powerica Ltd IPO comprises a fresh issue of ₹700 crore and an Offer For Sale (OFS) of ₹400 crore by the promoters, as against the initial plan of an IPO worth ₹1,400 crore as indicated in the draft papers filed with the exchanges.

What Are The Key IPO Details For Investors?

The share sale follows a typical allocation structure. Half of the issue is reserved for institutional investors, while non-institutional investors get 15%. Retail investors will have access to the remaining 35%.

At ₹395 per share, Powerica’s post-issue valuation is expected to be just under ₹5,000 crore.

When Will Powerica List On The Stock Exchanges?

The IPO timeline is fairly tight. The allotment of shares is likely to be finalised on 30 March. Shares are expected to be credited to investors’ demat accounts by 1 April.

The company is aiming to list on both the BSE and NSE on 2 April.

The issue is being handled by ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management. MUFG Intime India is acting as the registrar.

Where Will The IPO Funds Be Used?

Powerica plans to use around ₹525 crore to reduce its debt. As of February 2026, the company had total outstanding loans of a little over ₹1,214 crore. The remaining funds from the issue will be used for general corporate purposes.

How Is The Business Performing Right Now?

Powerica has been operating in the power equipment space for over four decades. It started with diesel generator sets and later expanded into larger generator systems and wind power solutions.

The generator business continues to be the main revenue driver, with the company earning over 80% of its revenue from this segment. The company is also associated with Cummins engines, as well as engineering and maintenance services in the wind energy space.

On the financial front, the company has shown an increase in revenue, though the profit side has been under some pressure. The company has reported a profit of ₹129 crore on revenue of ₹1,447 crore in the first half of FY26.

For FY25, revenue rose 20% to ₹2,653 crore. The profit, however, declined to ₹166.8 crore from ₹226.3 crore in the previous year, mainly due to lower other income.

Also Read - India’s Chemical Industry Projected To Hit $255 Billion By 2030

Investor Takeaway

As the IPO is around the corner, the focus of the investors should be on the company’s ability to balance growth with profit, as well as the debt reduction strategy, which is likely to benefit the company in the coming years.

Sources:

CNBC TV18

SEBI DRHP

Chittorgarh