SBI Mutual Fund Picks 6.6% Stake in Newly Listed Powerica After IPO

SBI Mutual Fund bought 57,92,485 shares of Powerica Limited during its IPO on April 1, 2026.

With this purchase, its total holding increased to 83,49,444 shares, equal to 6.60% of the company’s paid-up capital. Earlier, the fund held 2.02% (25,56,959 shares). Since the stake crossed the 5% limit, disclosure to the Securities and Exchange Board of India was required.

This investment shows strong confidence from institutional investors in the company’s future.

Investment Is Purely Financial

SBI Mutual Fund clarified that it is not part of the promoter group. The investment was made across its mutual fund schemes purely for financial returns.

Powerica Listing Performance

On its listing day (April 2, 2026), the stock opened below the issue price of ₹395.

On NSE

• Opened at ₹366 (down 7.34%)
• High: ₹397 | Low: ₹365.10
• Closed at ₹385 (down 2.53%)

On BSE

• Opened at ₹375 (down 5.06%)
• Closed at ₹390 (down 1.27%)

By the end of the session, the company’s market capitalisation stood at ₹4,935.52 crore on the BSE.

IPO Details of Powerica

The ₹1,100-crore IPO was fully subscribed (1.45x), mainly due to strong institutional demand.

Price band: ₹375–₹395 per share
Issue mix:

• Fresh issue: ₹700 crore
• Offer for sale: ₹400 crore

Use of funds:

• ₹525 crore to reduce debt
• Remaining funds for general corporate purposes

This was Powerica’s second attempt at listing after a previous IPO plan in 2019 was withdrawn.

Read More: SEBI Approves PMS Licence for Bajaj Alternate Investment Management! 

About Powerica

Powerica provides complete power solutions, including:

• Diesel generator sets (DG sets)
• Medium-speed large generators (MSLG)
• Related services

Conclusion

SBI Mutual Fund’s stake increase beyond 5% highlights strong institutional trust in Powerica’s long-term growth. Despite a weak listing, the successful IPO and large fund participation reflect positive investor sentiment.

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.

Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.