Powerica Ltd. on Wednesday announced the price band for its upcoming initial public offering worth Rs 1,100 crore. The IPO is a combination of fresh issue of Rs 700 crore and offer for sale of 1.01 crore shares by promoters aggregating to Rs 400 crore. Investors can bid for shares in the range of Rs 375 to Rs 395.
The lot size is 37 equity shares, requiring a minimum investment of Rs 14,615. The total IPO size is Rs 1,100 crore based on the upper price band and the company will be valued at nearly Rs 5,000 crore.
The subscription will open on March 24 and close on March 27. The anchor bidding round for large institutional investors will be held on March 23.
The allotment for the Powerica IPO will be finalised on March 30 and the shares will be credited to the demat account on April 1. The stock will list on the BSE and NSE on April 2.
ICICI Securities Ltd., IIFL Capital Services Ltd, and Nuvama Wealth Management Ltd. are the book running lead managers to the IPO.
ALSO READ: Manipal Hospitals IPO: DRHP To Be Filed Soon; Size Expected To Be Over Rs 9,000 Crore
About Powerica
Mumbai-based Powerica 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.
Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust are the promoters of the company offloading shares in the offer for sale.
The company will utilise Rs 525 crore from the fresh issue to repay debt. As on Feb. 28, 2026, the company had an aggregate outstanding borrowings from banks of Rs 1,214 crore. The rest of the fundraise will be used for general corporate purposes.
ALSO READ: Sai Parental IPO Price Band Out — Check Bidding Details
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.