Powerica IPO to Open on March 24: Price Band, GMP, Key Details & Things Investors Should Know

Published on 21 Mar 2026, Saturday

The Powerica IPO is set to open for subscription on March 24, 2026, and will remain available for bidding until March 27, 2026. The company aims to raise around ₹1,100 crore through this public issue. The IPO is priced in the range of ₹375 to ₹395 per share, placing the company’s valuation close to ₹5,000 crore. Notably, the issue size has been reduced from the earlier planned ₹1,400 crore.

Powerica IPO Key Details

IPO Open Date: March 24, 2026
IPO Close Date: March 27, 2026
Price Band: ₹375 – ₹395 per share
Lot Size: 37 shares
Minimum Investment: ₹14,615
Issue Size: ₹1,100 crore
Listing: BSE & NSE

Powerica IPO GMP Today

Ahead of the IPO launch, the Powerica IPO GMP (Grey Market Premium) is around ₹8, indicating a modest premium of nearly 2% over the upper price band.

However, investors should note that GMP is unofficial and volatile, and should not be the only factor considered while making investment decisions.

Powerica IPO Structure & Objectives

The IPO consists of:

Fresh Issue: ₹700 crore
Offer for Sale (OFS): ₹400 crore
Utilisation of Funds:
Around ₹525 crore will be used for debt repayment
Remaining funds will be allocated for general corporate purposes

Promoter Selling Shareholders

The OFS portion includes stake sale by:

Naresh Oberoi Family Trust
Kabir and Kamya Family Private Trust

About Powerica

Founded in 1984, Powerica is an integrated power solutions provider, primarily focused on diesel generator (DG) sets used for both primary and backup power.

The company offers a wide capacity range from 7.5 kVA to 10,000 kVA, catering to multiple industries.

Manufacturing Locations:
Bengaluru (Karnataka)
Silvassa (Dadra & Nagar Haveli)
Khopoli (Maharashtra)

Business Partnerships & Clients

Powerica has strong industry associations, including:

OEM partnership with Cummins India
Collaboration with Hyundai since 2014
Client relationships with GE Vernova and Schneider Electric

Listed Peers

As per the RHP, comparable listed companies include:

Cummins India
Kirloskar Oil Engines
NTPC Green Energy
Acme Solar Holdings
Adani Green Energy

Key Risks to Consider

The business is heavily dependent on generator sales, contributing a major share of revenue over recent years.
The company relies significantly on Cummins India and a limited number of suppliers, which may pose supply chain risks.

Industry Outlook

Demand for backup power solutions remains strong in India due to:

Rapid urbanisation
Infrastructure expansion
Increasing energy demand

At the same time, the country is witnessing strong growth in renewable energy, with wind capacity reaching around 53 GW as of September 2025, as per industry reports.

Financial Performance

Revenue (FY25): ₹2,653 crore (up ~20% YoY)
Revenue (FY24): ₹2,210 crore
PAT (FY25): ₹175.83 crore
PAT (FY24): ₹226.11 crore

While revenue has grown, profitability has declined, which investors should evaluate carefully.

IPO Managers & Registrar

Book Running Lead Managers:
ICICI Securities, IIFL Capital Services, Nuvama Wealth Management
Registrar:
MUFG Intime India

Final Take

The Powerica IPO offers exposure to the power solutions segment with established partnerships and manufacturing capabilities. However, moderate GMP, declining profits, and business concentration risks are key factors investors should assess before applying.


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Disclaimer

This content is for informational purposes only and not investment advice. Please consult your financial advisor before investing. IPO investments are subject to market risks.