Powerica Ltd.'s initial public offering (IPO) entered its second day of bidding on Tuesday, with investor interest showing a mixed trend across categories. The issue was subscribed 1% on the first day.
The IPO comprises a fresh issue of shares worth up to Rs 700 crore and an offer-for-sale (OFS) aggregating to around Rs 400 crore, taking the total issue size to about Rs 1,100 crore. The price band for the IPO has been set between Rs 375 and Rs 395 per share.
The subscription window for the IPO will remain open till March 27, 2026. To participate in the IPO, retail investors need to bid for a minimum lot size of 37 shares, requiring an investment of Rs 14,615 at the upper price band.
The IPO share allotment status is expected to be finalised on March 31, 2026. Refunds to non-allottees will be processed on April 1, 2026, while shares will be credited to demat accounts on the same day. The stock is tentatively scheduled to be listed on the BSE and NSE on April 2, 2026.
Powerica is a power solutions company engaged in the manufacturing and supply of diesel generator sets, along with a growing presence in wind power generation. The company caters to industrial and commercial clients and has built a diversified portfolio across backup power and renewable energy segments.
IPO Status
Powerica IPO was subscribed 1% as of day 1.
- Qualified Institutional Buyers: Nil
- Non-Institutional Investors: 1%
- Retail Individual Investors: 2%
- Employee Reserved: 30%
IPO GMP Today
According to InvestorGain, the latest GMP for the Powerica IPO stood at Rs 4. It indicates a 1% listing gain compared to the IPO price.
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.
ALSO READ: Powerica IPO Opens Today: Should You Subscribe? Check View From SBI Securities
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.