Power solutions provider Powerica Ltd. will launch its IPO on March 24 to raise over Rs 1,000 crore from the primary market. In the lead-up to its first day of subscription, its grey market premium (GMP) was topping the "Business and Finance" trending charts, indicating strong investor interest.
The latest GMP for the Powerica IPO is Rs 5 on March 24. It indicates a listing price of Rs 400 per share, at a premium of 1.27% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Here's all you need to know about the IPO of Mumbai-based power solutions company.
Powerica IPO: Key Details
The Powerica IPO is a book-built issue of Rs 1,100 crore. It comprises 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.
The IPO price band is set at Rs 375 to Rs 395 per share.
Retail investors can participate in the IPO by bidding for a single lot comprising 37 shares, leading to an investment of Rs 14,615. Small Non-Institutional Investors have to bid for 14 lots, requiring an investment of Rs 2,04,610. Big Non-Institutional Investors need to bid for a minimum of 69 lots, amounting to Rs 10,08,435.
Investors can bid for shares in the IPO from March 24 to March 27. Allotment of shares will be finalised on March 30. The company will transfer shares to the demat accounts of successful bidders on April 1, and non-allottees will get refunds on the same day.
Shares of the company are scheduled to list on the BSE and NSE on April 2.
ICICI Securities Ltd. is the book-running lead manager, and MUFG Intime India Ltd. is the registrar of the issue.
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About Powerica - Business, Financials, Use Of Proceeds
Powerica is a power solutions provider specialising in manufacturing and servicing diesel generator sets. It was established in 1984.
Financials
The company reported a 26.3% year-on-year (YoY) decrease in net profit to Rs 166.82 crore in FY25 from Rs 226.28 crore in FY24. Revenue from operations rose 20% YoY to Rs 2,653.27 crore in FY25 from Rs 2,210 crore in FY24.
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Use Of Proceeds
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
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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