Powerica IPO: Price band set at ₹375-395 per share; check key dates, issue details, more

Powerica IPO price band: The Powerica Limited IPO price band has been fixed in the range of ₹375 to ₹395 per equity share of the face value of ₹5. The Powerica IPO date of subscription is scheduled for Tuesday, March 24 and will close on Friday, March 27. The allocation to anchor investors for the Powerica IPO is scheduled to take place on Monday, March 23.

The floor price is 75 times the face value of the equity shares and cap price is 79 times the face value of the equity shares. The Powerica IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter.

Powerica IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved shares up to ₹2 crore.

Tentatively, Powerica IPO basis of allotment of shares will be finalised on Monday, March 30 and the company will initiate refunds on Wednesday, April 1, while the shares will be credited to the demat account of allottees on the same day following refund. Powerica share price is likely to be listed on BSE and NSE on Thursday, April 2.

Powerica IPO details

Powerica IPO will consist of a new share issuance valued at ₹700 crore, along with a component for Offer For Sale (OFS) amounting to ₹400 crore.

The size of the OFS has been decreased from the previous ₹700 crore, making the total IPO size ₹1,400 crore according to the Draft Red Herring Prospectus submitted in August last year. Following this, SEBI approved the draft documents in December 2025.

If priced at the upper end of the range, Powerica is expected to achieve a post-issue market capitalization of ₹4,998.6 crore.

The power solutions company intends to allocate ₹525 crore from the fresh issue proceeds for clearing specific debts, while the remaining funds will be used for general corporate activities.

ICICI Securities, IIFL Capital, and Nuvama Wealth Management serve as the Book Running Lead Managers for this issue. MUFG Intime India acts as the registrar.

Company details

Powerica, which began its diesel generator set operations in 1984 and later expanded to include medium speed large generators (MSLG) in 1996, offers generator sets with capacities from 7.5 kVA to 10,000 kVA.

The company’s offerings consist of diesel generator sets powered by Cummins engines, MSLG products developed in partnership with Hyundai, and various related business ventures.

Powerica, which derives over 80.5% of its revenue from the generator set segment and the remainder from its wind power division, recorded a profit of ₹129 crore during the six-month period ending in September 2025, on total revenues of ₹1,447.44 crore.

Profit for fiscal year 2025 stood at ₹166.8 crore, a decrease of 26.3% from ₹226.3 crore in the prior year, likely affected by a decline in other income, which fell to ₹57.7 crore from ₹146.8 crore during the same timeframe.

During those years, revenue rose by 20%, reaching ₹2,653.3 crore, up from ₹2,210 crore.

As per red herring prospectus (RHP), the company's listed peers are Cummins India Ltd (with a P/E of 64.13), Kirloskar Oil Engines Ltd (with a P/E of 43.24), NTPC Green Energy Ltd (with a P/E of 129.40), Acme Solar Holdings Ltd (with a P/E of 50.74), and Adani Green Energy Ltd (with a P/E of 101.53).

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