Powerica IPO

Powerica IPO Details

The Powerica IPO is structured as a 100% book-built issue with a total offer size of up to ₹1,100 crore, comprising a fresh issue worth up to ₹700 crore and an offer for sale (OFS) worth up to ₹400 crore, with a face value of ₹5 per share.

The price band of this issue is set at ₹375 to ₹395 per share and the lot size for an application is 37. The IPO will open for subscription from March 24 to 27, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as April 2, 2026. The book-running lead managers (BRLMs) for this issue are ICICI Securities Ltd., IIFL Capital Services Ltd. and Nuvama Wealth Management Ltd., while the registrar to the issue is MUFG Intime India Pvt. Ltd.

Powerica IPO Date & Timeline

As of now, the official Powerica IPO date for the opening and closing of the subscription process and listing has not been announced yet. The company filed its DRHP on August 8, 2025. The actual dates will be announced once the observations are received from SEBI. After the closure of the subscription process, the actual dates will follow the basis of allotment, refund, credit of shares to demat accounts and finally, the listing of the shares on the stock exchanges. Investors can follow the actual Powerica IPO date once announced by the stock exchanges.

Powerica IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Powerica IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Powerica Ltd. was incorporated as 'Consolidated Power Systems Private Limited' on May 4, 1984. The company was converted into a public limited company in June 1988 and was later renamed 'Powerica Ltd.' in 1989. Over the last four decades, the company has evolved from being a private company to becoming one of the prominent players in the power solutions business. The company has emerged as an integrated group with a strong footprint in the business of standby power manufacturing and renewable energy generation.

Operations & Product Range

Powerica Ltd. divides its operations into two major business segments. In the standby power segment, Powerica is a major manufacturer of Diesel Generator (DG) sets with the help of its long-term partnership with Cummins India Ltd. The DG sets range from 7.5 kVA to 3750 kVA, fulfilling all kinds of industrial and commercial requirements. In the renewable energy segment, Powerica acts as an independent power producer (IPP), setting up wind power projects across India.

Facilities & Capacity

Powerica Ltd. has a solid infrastructure for manufacturing and energy generation, with its existing DG set plants supported by a strong supply chain network. As of March 31, 2025, Powerica Ltd. has recorded an installed capacity of wind power at 279.55 MW located in the wind-suitable states of Gujarat, Tamil Nadu and Maharashtra. The company also offers Operations & Maintenance (O&M) services for 9 wind projects with a capacity of 245.20 MW.

Brands & Market Presence

Powerica Ltd. operates under the brand name "Powerica" and has managed to establish itself as a force to be reckoned with in the market with its wide sales network. As of March 31, 2025, 19 sales and marketing offices and 126 sales personnel across India supported the company's DG set business. This capacity is supplemented by the presence of 32 authorized dealers through joint authorization certificates with Cummins. It caters to customers across various industries such as data centers, healthcare, manufacturing, government and defense.

Revenue Streams & Business Model

Powerica Ltd. generates revenue through its diversified business model, focusing on the provision of power solutions. The company, as a leading manufacturer of Cummins diesel generators, generates revenue by selling its products as well as offering after-sales service contracts. The company is also an independent power producer (IPP), utilizing its massive investment in wind farm projects to sell energy to state utilities.

For FY25, the company recorded a total revenue from operations of ₹2,653 crore and Profit After Tax (PAT) of ₹185 crore with a margin of 6.49%. The company has also maintained its debt-equity ratio at 0.24x as on 31st March 2025. The company's Return on Equity (ROE) stood at 17.53% for FY25.

Management & Shareholding

The management team of Powerica Ltd. comprises the Chairman and Managing Director, Mr. Naresh Chander Oberoi, who has been responsible for the growth of the company. Before the IPO, the promoter group, which includes the Oberoi family and their family trusts, held the majority of the stake. However, after the IPO, the company's stake is expected to be diluted due to the fresh issue of shares and the shares issued by the promoter trusts.

Board & Key Management

The board of directors and key management of Powerica Ltd. comprise experienced professionals who are responsible for managing different strategic functions of the firm. CS Anita Praful Renuse oversees the firm's compliance with regulatory standards necessary for its public listing, while Ritesh Kumar Agrawal serves as the Group CFO for the firm, ensuring all the financial work and future planning of financial growth.