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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Think IPO, Think IPO RupeeDisclaimer
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.
