Powerica IPO Price Band
The company paid Rs. 375-395 has been set and retail investors can apply for a minimum of 1 lot with Rs. Includes 37 equity shares amounting to 14,615.
Fresh issue IPO is up to Rs 700 crore while OFS is up to Rs 400 crore. In this Rs. Consists of eligible employee reservation share of up to 2 crore and anchor investor share of 83,39,239 equity shares.
The company is giving a discount of Rs 37 per share to its employees. It has reserved 50% of the issue for qualified institutional buyers (QIBs), up to 35% for retail investors and 15% for non-institutional investors (NIIs).
The company on Monday raised Rs. 329.39 crore was collected.
Powerica IPO GMP
The last gray market premium (GMP) of Powerika IPO was Rs. 400 at a listing price indicating Rs. was at 4-5, indicating a 1.3% listing gain. GMP is only an indicative price and may change as the issue progresses.
Powerica IPO Net Moves
The company paid off its debt by Rs. 525 crore while for general corporate purposes Rs. 175 crore will be used. The OFS portion will go to the selling shareholders.
About Powerica
Powerica is an integrated power solutions provider specializing in Diesel Generator Sets (DG Sets) for both primary and standby applications. As one of the original equipment manufacturers (OEMs) for Cummins India Limited, the company has maintained a strong relationship with them for over four decades.
Powerica manufactures DG sets with accessories including acoustic enclosures, fuel and exhaust systems and customized control panel systems. Based on 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 for the Balance of Plant (BoP) as well as an Operation and Maintenance (O&M) service provider. The company, through its associate company Platino Automotive, is involved in the Retrofit Emission Control Devices (RECDs) business, these RECD products provide comprehensive solutions to reduce emissions from existing DG sets.
Powerica Financials
The company’s revenue from operations in H1FY26 was Rs. 1,447 crore while its profit after tax (PAT) was Rs. 129 crores. For FY25, revenue in FY24 was Rs. 2,210 crore against Rs. 2,653 and in FY23 Rs. was 2,378. PAT in FY25 was Rs. 167 crore and in FY24 Rs. 226 crore and in FY23 Rs. 106 crores.
Powerica IPO Lead Managers
The Book Running Lead Managers (BRLMs) are ICICI Securities Ltd., IIFL Capital Services Ltd., Nuwama Wealth Management Ltd. while the Issue Registrar is MUFG Intime India Pvt Ltd.
Should you bid?
SBI Securities recommends investors to ‘subscribe’ to the issue for the long term, valuing the company at 19.4X annualized FY26 earnings on post-issue capital at the upper band of the issue price.
“Although revenue grew at a mid-single digit CAGR of only 5.6% between FY23-FY25, growth picked up during FY26. Demand for diesel generator sets remains strong due to data centers and backup power applications. The company has severed long-term ties with Cummins, Hyundai, Electric and Vernegee.” said.
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