On March 18, 2026, Powerica Ltd., a Mumbai-based provider of power solutions, announced the price band for its upcoming ₹1,100 crore initial public offering (IPO). The company has set the price range at ₹375–₹395 per share. Powerica IPO will open for subscription on March 24 and close on March 27, with the anchor investor portion scheduled to open for a day on March 23.
The IPO is being managed by ICICI Securities, IIFL Capital, and Nuvama Wealth Management as book-running lead managers, while MUFG Intime India will act as the registrar. The share allotment is expected to be finalised on March 30, and the company is likely to list on the stock exchanges on April 2.
The IPO will comprise a fresh issue of shares worth ₹700 crore along with an Offer for Sale (OFS) of ₹400 crore. Notably, the OFS component has been reduced from the earlier proposed ₹700 crore, bringing down the overall issue size from ₹1,400 crore, as outlined in the Draft Red Herring Prospectus filed in August last year. The company received approval from SEBI in December 2025.
In terms of allocation, 50% of the issue is reserved for Qualified Institutional Buyers (QIBs), 15% for non-institutional investors, and 35% for retail investors. Retail participants can bid for a minimum lot size of 37 shares, requiring an investment of ₹14,615 at the upper price band, with bids allowed in multiples thereafter. Eligible employees will benefit from a discount of ₹37 per share.
At the upper end of the price band, Powerica’s post-issue market capitalisation is estimated at ₹4,998.6 crore. The company plans to utilise ₹525 crore from the fresh issue proceeds toward debt repayment, with the remaining funds allocated for general corporate purposes. As of February 2026, its total outstanding borrowings stood at ₹1,214.25 crore.
Also Read: Upcoming IPO: SEBI Clears IPO Plans Fab Hotels, Tea Post and Learnfluence Education
Founded in 1984 with a focus on diesel generator sets, Powerica expanded into medium-speed large generators (MSLG) in 1996. The company now offers generator solutions ranging from 7.5 kVA to 10,000 kVA. Its portfolio includes diesel generator sets powered by Cummins engines, MSLG solutions developed in collaboration with Hyundai, and other allied services.
The generator business contributes over 80.5% of the company’s revenue, with the remainder coming from its wind power segment. For the six-month period ending September 2025, Powerica reported a profit of ₹129 crore on revenue of ₹1,447.44 crore.
For the full fiscal year 2025, the company posted a profit of ₹166.8 crore, marking a 26.3% decline from ₹226.3 crore in the previous year, largely due to a drop in other income, which fell to ₹57.7 crore from ₹146.8 crore. However, revenue grew by 20% year-on-year to ₹2,653.3 crore from ₹2,210 crore.
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: Mar 18, 2026, 9:27 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
