Powerica IPO To Open on March 24, Files RHP With SEBI
Powerica Limited is set to launch its Initial Public Offering (IPO) on March 24, 2026, after filing its Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI) on March 17, 2026.
The public issue will remain open for subscription from Tuesday, March 24, to Friday, March 26, 2026, while the anchor investor bidding is scheduled to begin on March 23, 2026.
Powerica Limited is engaged in the manufacturing and supply of diesel and gas generator sets, as well as the provision of power solutions and energy equipment to industrial and commercial customers. The company operates in the power backup and energy infrastructure segment, catering to sectors such as manufacturing, infrastructure, and commercial establishments.
Powerica IPO - Issue Details
As per the RHP, Powerica IPO will be a 100% book-building issue of ₹1,100 crores, comprising both a fresh issue of ₹700 crores and an offer for sale (OFS) of ₹400 crores. The IPO price band is fixed at ₹375 to ₹395 per share, and the minimum lot size required for an application is 37.
The allotment process for the Powerica IPO is expected to be finalised on March 30, 2026, and the shares will be listed on both BSE and NSE, with a tentative listing date fixed as April 2, 2026.
ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Nuvama Wealth Management Limited are the book-running lead managers, and MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited) is the registrar of the issue.
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Utilisation of Proceeds
The Company will utilise the net proceeds from the fresh issue towards the following purposes:
- Prepayment/repayment of certain outstanding borrowings availed by the Company, in part or in full.
- General corporate purposes.
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About Powerica Limited
Powerica Limited is an India-based power solutions company engaged in the manufacturing and supply of diesel generator (DG) sets, gas-based power systems, and renewable energy solutions. Incorporated in 1983 and headquartered in Mumbai, the company is a key authorised dealer of Cummins India, offering a wide range of power backup and distributed energy solutions for industrial, commercial, and residential applications.
The company operates across multiple verticals, including DG sets, gas gensets, solar EPC solutions, and rental power services, catering to diverse sectors such as infrastructure, manufacturing, healthcare, and telecom.
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