Mumbai-based Powerica has received final approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO) worth ₹1,400 crore. The company had filed its draft papers with SEBI on August 8, 2025.
The IPO will comprise a fresh equity issue of ₹700 crore and an offer for sale of ₹700 crore by existing promoters. Shares of Powerica are proposed to be listed on both BSE and NSE.
The public issue includes a fresh issue of ₹700 crore and an offer for sale of ₹700 crore by the Naresh Oberoi Family Trust and the Kabir and Kimaya Family Private Trust. Of the fresh issue proceeds, ₹525 crore will be used for partial or full repayment of certain borrowings.
The remaining funds will be allocated for general corporate purposes. ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers, while MUFG Intime India Private Limited will act as the registrar.
Powerica operates in the diesel generator (DG) set business. It offers manufacturing, marketing, supply, and complete SITC, installation, testing, and commissioning, along with on-site services.
The company has been an OEM partner for Cummins for over 40 years. Its DG sets cater to diverse sectors, including hospitality, healthcare, BFSI, education, real estate, infrastructure, manufacturing, agriculture, IT/data centres, government, defence, and rental markets.
According to the Draft Red Herring Prospectus (DRHP), Powerica runs three manufacturing plants located in Bengaluru, Silvassa, and Khopoli. The company’s distribution network comprises 19 sales and marketing offices.
It is supported by a 126-member sales team and 32 authorised dealers. This extensive network enables Powerica to serve a wide range of industries across India.
Powerica reported operating revenue of ₹2,653.27 crore in FY25, up from ₹2,378.3 crore in FY23. Net profit rose to ₹175.83 crore in FY25 compared with ₹106.5 crore in FY23.
Read More: Manipal Hospitals Plans to File $1 Billion India IPO in January.
Powerica’s ₹1,400 crore IPO marks a significant step in its growth strategy, with proceeds aimed at reducing debt and strengthening operations. The company’s long-standing partnership with Cummins and its diversified customer base provide a strong foundation for future expansion.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Dec 4, 2025, 11:27 AM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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