Powerica IPO allotment likely today: Check status, GMP, other details

Synopsis

Powerica's IPO share allotment is likely to be finalized today. Investors can check their status on BSE or the registrar's website. The company's stock is expected to list on April 2. The IPO saw strong demand from Qualified Institutional Buyers. Powerica is a power solutions provider specializing in diesel generator sets.

The share allotment for Powerica’s IPO is likely to be finalised by today. Investors who applied for the mainboard issue can check the allotment status by visiting the BSE or the website of the registrar, MUFG Intime India Pvt Ltd. On the allotment date, investors learn about the number of shares allotted to them against the bids made.

Powerica IPO IPO subscription status

The mainboard issue that closed on Friday, was overall subscribed 1.45 times over a three-day bidding period. The demand was mainly driven by Qualified Institutional Buyers (QIBs) who subscribed the IPO 4.5 times of their quota, while Retail Individual Investors (RIIs) hardly showed any interest, subscribing just 14% shares of the available quota.

Here's how you can check the status on BSE:

Step 1: Visit the BSE 'Status Application Check' page https://www.bseindia.com/investors/appli_check.aspx

Step 2: Select Issue Type: Equity/Debt

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Step 3: Put PAN/Application No. and enter checkbox 'I'm not a robot'.

Step 4: Submit 'Search'

Its stock is expected to get listed on April 2.

About Powerica IPO

The company set the price band at Rs 375–395 per share. The IPO of fresh issue aggregated up to Rs 700 crores while the OFS was worth up to Rs 400 crores. This including eligible employees reservation portion aggregating up to Rs 2 crores and anchor investor portion of 83,39,239 equity shares.

Powerica IPO GMP

Powerica IPO's last grey market premium (GMP) stood at Rs 2-3 hinting at a muted listing at Rs 398, implying a 1% listing gains. The GMP is only an indicative price and could change as the issue progresses.

Powerica IPO net proceeds

The company will utilize Rs 525 crore towards payment of its borrowings while Rs 175 crore for general corporate purposes. The OFS part will go to the selling shareholders.

About Powerica

Powerica is an integrated power solutions provider specialising in diesel generator sets (DG sets), for both primary and standby applications. As one of the Original Equipment Manufacturers (OEMs) for Cummins India Ltd, the company has maintained a strong relationship with them for over four decades.

Powerica manufactures DG sets along with auxiliary items, including acoustic enclosures, fuel and exhaust systems, and customized control panel systems. Building on the experience in the Generator Set Business, the company entered the wind power sector in 2008 as an Independent Power Producer (IPP). Subsequently, it developed capabilities as an Engineering, Procurement and Construction (EPC) contractor as well as an Operation and Maintenance (O&M) service provider for Balance of Plant (BoP).

The company through its associate company Platino Automotive, is engaged in the Retrofit Emission Control Devices (RECDs) business, these RECD products provide comprehensive solutions for reducing emissions from existing DG sets.

Powerica Financials

The company's revenue from operations in H1FY26 stood at Rs 1,447 crore while its profit after tax (PAT) stood at Rs 129 crore. For FY25, revenue stood at Rs 2,653 versus Rs 2,210 crore in FY24 and Rs 2,378 in FY23. The PAT stood at Rs versus Rs 167 crore in FY25 and Rs 226 crore in FY24 and Rs 106 crore in FY23.

Powerica IPO lead managers

The Book Running Lead Managers (BRLMs) are ICICI Securities Ltd, IIFL Capital Services Ltd, Nuvama Wealth Management Ltd while the registrar to the issue is MUFG Intime India Pvt Ltd.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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