Investor appetite for Powerica's IPO remained robust on the final day of bidding, with the issue subscribed 1.45 times on March 27. It received bids for 2,98,57,816 shares against 2,05,55,171 shares offered.
Among investor categories, Qualified Institutional Buyers (QIBs) led with 4.5 times subscription, followed by Non-Institutional Investors (NIIs) at 0.44 times, while retail investors lagged at 0.15 times.
Powerica will complete the share allotment process on Monday, March 30, with successful investors set to receive their allocations in dematerialised form on April 1. Those who do not secure shares will have their funds returned the same day.
The company's shares are scheduled to list on the BSE and NSE on April 2. The price band for the IPO was set at Rs 375 to Rs 395 per share. The Powerica IPO was a book build issue of Rs 1,100 crore. It comprised a fresh issue of 1.77 crore shares worth Rs 700 crore and an offer-for-sale (OFS) of 1.01 crore shares amounting to Rs 400 crore. Powerica is a power solutions provider specialising in manufacturing and servicing diesel generator sets. It was established in 1984.
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
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Investors who participated in the IPO can check the allotment status on the websites of BSE, NSE, and the issue registrar, MUFG Intime India.
Steps To Check Powerica IPO Allotment Status On BSE
Visit the BSE IPO allotment page here.
Choose the issue type as “Equity”.
Select “Powerica Ltd.” from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the Captcha for verification.
Click on the “Search” button to check your allotment status.
Steps To Check Powerica IPO Allotment Status On NSE
Visit the IPO allotment page on the NSE website here.
Select “Equity & SME IPO bid details”.
Pick the company symbol "Powerica" from the dropdown list.
Enter your PAN and Application Number.
Click “Submit” to check your share allotment status.
Steps to Check Powerica IPO Allotment Status On MUFG Intime India
Visit the IPO allotment page on the issue registrar's official website here.
Select “Powerica Ltd. - IPO” from the drop-down menu for company names. It's important to note that the company name will only appear after finalisation of the share allotment status.
Choose any of these options: PAN, Application Number, DP/Client ID, or Account No / IFSC.
Enter the details as per your selection.
Click on the “Submit” button to check the details.
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Powerica IPO GMP Today
The grey market premium (GMP) for the Powerica IPO stood at Rs 6.5 on March 30, according to InvestorGain. The latest GMP indicates a listing price of Rs 401.5 per share at a premium of 1.65% over the upper limit of the price band.
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Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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