Powerica Secures SEBI Nod for ₹1,400 Crore IPO

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.

IPO Structure and Fund Utilisation

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.

Company Profile and Operations

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.

Manufacturing and Distribution Network

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.

Financial Performance

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.

Conclusion

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.

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