Powerika ipo

Powerka generates power via wind farms and sells diesel generators. It raises ₹1100 crore at a ₹5000 crore valuation, with promoters selling a significant 400 crore stake. Revenue grew slightly, but net profit remains flat compared to peers like Kirloskar Oil. The valuation is priced high, similar to high-growth companies, despite stagnant earnings. While the wind energy asset is a positive, the current price leaves little room for listing gains. It is ethically sound but overvalued for immediate investment.