Powerica IPO is a book-build/mainboard issue of ₹1,100.00 crore. The issue combines 1,77,21,518 fresh equity shares of ₹700.00 crore and 1,01,26,582 equity shares as an offer-for-sale that sum up to ₹400.00 crore, face value of ₹5.00/share.
Powerica IPO starts subscription on 24 March 2026 and continues till 27 March 2026. The allotment of shares is tentatively finalised as of 30 March 2026. Powerica Limited plans a listing of the shares on BSE and NSE, tentatively as on 2 April 2026.
Powerica IPO price band is starting at ₹375.00 up to ₹395.00/share. The minimum lot size/application is 37 shares, with the minimum requirement of investment amount from an individual investor (retail participants) at ₹14,615.00 (37 Shares x Upper Value of Price Band).
Powerica IPO–Details
The Powerica IPO details breakdown:
| IPO Open | 24 March 2026 |
| IPO Close | 27 March 2026 |
| Face value | ₹5/share |
| Price Band | ₹375.00/share – ₹395.00/share |
| Issue price | – |
| IPO Lot Size | 37 Shares/Application |
| Offer-for-sale | Up to 1,77,21,518 Equity Shares (₹700.00 crore) |
| Fresh issue | Up to 1,01,26,582 Equity Shares (₹400.00 crore) |
| Issue Type | Mainboard/Book-built Issue |
| Listing | BSE & NSE |
| Total Issue Size (₹ Crore) | ₹1,100.00 crore (up to 2,78,48,100 Equity Shares) |
| Minimum Retail Investment | ₹14,720 (47 shares at upper band) |
Powerica IPO–Timeline
| Bid Opening Date | 24 March 2026 |
| Bid Closing Date | 27 March 2026 |
| Allotment | 30 March 2026 |
| Refunds Initiated | 1 April 2026 |
| Share Credit Date | 1 April 2026 |
| Listing Date | 2 April 2026 |
| UPI mandate Cut-off time | 27 March 2026 (5 PM) |
Powerica Limited–Key Performance Indicators (KPIs)
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 17.53 | 26.5 | – |
| ROCE (%) | 27.02 | 43.47 | – |
| Debt-Equity Ratio (in times) | 0.24 | 0.16 | 0.31 |
| RoNW (%) | 15.37 | 24.8 | 13.4 |
| PAT Margin (%) | 6.49 | 9.59 | 4.39 |
| EBITDA Margin (%) | 13.03 | 16.4 | 14.01 |
| Price-Book Value | – | – | – |
Powerica Ltd–Financial Information
| 2025 (in ₹ crore) | 2024 (in ₹ crore) | 2023 (in ₹ crore) | |
| Revenue | 2,653.27 | 2,210.00 | 2,378.26 |
| Assets | 2,414.83 | 2,084.91 | 2,125.81 |
| Profit After Tax | 175.83 | 226.11 | 106.45 |
Powerica IPO–Subscription Status
Subscription details are not released yet!
The bidding starts from 10:00 AM to 5:00 PM on the mentioned IPO dates.
Powerica IPO–Grey Premium Market (GMP)
The Powerica IPO GMP is not available currently. The GMP trend started from two sessions only, which is too early to judge the direction.
For the updated GMP trend and the listing estimation, you can check this section:
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend | Last Updated |
| 18 March 2026 | ₹395 | ₹395 | ₹ (0.00%) | – | 18/03/2026 (02:29 PM) |
| 17 March 2026 | ₹0 | ₹ | ₹ (0.00%) | – | 17/03/2026 (08:40 PM) |
Note: GMP figures shown here are related to grey market news. These can change depending on investors’ sentiment, subscription, and the overall market mood.
Powerica IPO–Reservation
| Investor Category | % of Shares Offered |
| QIBs | Maximum 50% |
| Non-institutional Investors (NIIs) | Minimum 35% |
| Individual Investor | Minimum 35% |
| Total | 100% |
Powerica IPO–Lot Size
The lot size for each category of investors are stated in the table below:
| Application | Lot Size | Shares | Amount |
| Individual Investors Minimum Application | 1 | 37 | ₹14,615 |
| Individual Investors Maximum Application | 13 | 481 | ₹1,89,995 |
| S-HNI Minimum Application | 14 | 518 | ₹2,04,610 |
| S-HNI Maximum Application | 68 | 2,516 | ₹9,93,820 |
| B-HNI Minimum Application | 69 | 2,553 | ₹10,08,435 |
Powerica IPO–Anchor Investors Details
| Bidding Opens On | 23 March 2026 |
Powerica IPO–Prospectus
| Draft Red Herring Prospectus (DRHP) | DRHP Document |
| Red Herring Prospectus (RHP) | RHP Document |
About Powerica Limited
The company was established on 4 May 1984 and operates in the energy sector, focusing on diesel-based generator systems (DG sets) used across backup and operational power applications. It functions under the leadership of Chairman and Managing Director, Bharat Oberoi.
Business Segments:
- Generator set division: The company manufactures diesel generator sets powered by Cummins engines, covering low capacity from 7.5 kVA to 160 kVA, medium capacity from 180 kVA to 500 kVA, and higher capacity units above 500 kVA.
- Wind power division: As of 31 March 2025, the company operates 11 wind energy projects located in Gujarat, with a combined installed capacity of 279.55 MW.
- Emission control solutions: The company also provides emission reduction solutions along with its associate, Platino Automotive.
| Book Running Lead Managers (BRLM) | ICICI Securities LtdIIFL Capital Services LtdNuvama Wealth Management Ltd |
| Registrar | MUFG Intime India Pvt Ltd |
Objectives of Powerica
| Particulars | Amount (in ₹ crore) |
| Part or full repayment of the company’s borrowings | 525.00 |
| Corporate requirements | – |
Powerica Limited–Strengths
- Established presence in DG set market: The company has operated in diesel generator sets since 1984, offering products across multiple capacity ranges.
- Industry collaborations and alliances: The company’s strategic partnerships with established players support technical advancement and strengthen market competitiveness.
- Technical and execution capabilities: The company’s strong engineering expertise and manufacturing processes enable consistent product quality and efficient project delivery.
- Diversified customer base: The company serves clients across sectors, including infrastructure, manufacturing, IT, agriculture, government, and commercial industries.
Powerica Limited–Risks
- Dependence on generator set segment: The company’s large share of revenue comes from the DG set business, which makes its performance sensitive to this segment.
- Reliance on a few suppliers: The company depends on partners such as Cummins and Hyundai for critical components, and any supply disruptions may affect operations.
- Unsecured borrowings exposure: The company’s certain borrowings are repayable on demand, which may create liquidity pressure if called for repayment.
- Ongoing legal matter: The company’s promoter and directors are involved in a civil dispute related to shareholding and family arrangements, which may impact the business and share value if rulings turn out adversely.
Powerica IPO–Review
The Powerica IPO enters the market as a ₹1,100 crore mainboard issue, combining a fresh issue and an OFS. The company is engaged in power solutions, with its business spread across diesel generator systems and wind energy operations.
The company has reported stable revenue growth over the past few years. And, the investors may note its diversified operations and long-standing industry presence, while dependence on key suppliers and generator segments remain factors to track post listing.
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Powerica IPO FAQs
The Powerica IPO is a mainboard book-built public issue through which the company aims to raise ₹1,100 crore. It includes a fresh issue of shares and an offer-for-sale by existing shareholders. The proceeds from the fresh issue are intended mainly for repayment of borrowings and general corporate purposes.
To apply for the Powerica IPO, investors can use the ASBA facility via their bank account or place bids through a registered broker. The applications can also be made through UPI-enabled platforms. And, the bids must be submitted during the IPO window between 10:00 AM and 5:00 PM on the issue dates.
The Powerica IPO presents a company with an established presence in power solutions and a diversified business across generator sets and wind energy. However, its dependence on key suppliers and a major revenue segment may be considered. Investors usually review financials, valuation, and industry outlook before deciding.
The expected returns from the Powerica IPO depend on subscription demand, market conditions, and company performance after listing. Grey market premium trends may reflect current sentiment but remain unofficial. Actual returns can vary based on investor participation and overall stock market movement at the time of listing.
The Powerica IPO will open for subscription on 24 March 2026 and close on 27 March 2026.
The lot size of the Powerica IPO is 37 shares. Retail investors are required to apply for at least one lot. Based on the upper price band of ₹395 per share, the minimum investment amount for a retail application is ₹14,615.
The allotment of shares for the Powerica IPO is expected to be finalised on 30 March 2026.
The shares of Powerica are expected to be listed on the BSE and NSE on 2 April 2026.
