Powerica Files DRHP To Raise Rs 1,400 Crore Through IPO

Powerica Ltd. on Monday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include a mix of fresh issue of shares worth Rs 700 crore and an offer for sale up to Rs 700 crore by promoter selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 140 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.

The offer also includes a subscription reservation for eligible employees and offers a discount to the employees bidding in the employee reservation portion.

Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust are the promoters of the company offloading shares in the offer for sale.

ICICI Securities Ltd., IIFL Capital Services Ltd. and Nuvama Wealth Management are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.

Proceeds from the fresh issue worth Rs 525 crore will be used for repayment or prepayment of certain outstanding borrowings. The remaining funds will be used for the general corporate purposes.

The Mumbai-based company is an integrated power solution provider with specialisation in diesel generator sets for both primary and standby applications. In addition, it is one of the original equipment manufacturers for Cummins India Ltd.

The company offers a range of generator sets with capacities ranging from 7.5 kVA to 10,000 kVA. The company in 2008 also entered the wind power sector and has developed capabilities as an engineering, procurement and construction contractor as well as an operation and maintenance service provider for balance of plant.

The company for its generator set business operated three manufacturing facilities in Bengaluru, Silvassa and Khopoli. Its 19 sales and marketing offices has a team of 126 personnel and 32 authorised dealers.

Powerica's revenue from operations increased by 20% from Rs 2,210 crore in fiscal 2024 to Rs 2,653.27 crore in fiscal 2025. However, profit for the year decreased by 22.2% from Rs 226.11 crore in fiscal 2024 to Rs 175.83 crore in fiscal 2025.