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Powerica slides on market debut

02-Apr-26 10:26 Hrs IST

The stock debuted at Rs 375, marking a discount of 5.06% to the issue price.

So far, the stock has hit a high of Rs 387.70 and a low of Rs 365.10. On the BSE, over 1.33 lakh shares of the company were traded in the counter so far.

Powerica was subscribed 1.45 times. The issue opened for bidding on 24 March 2026 and it closed on 27 March 2026. The price band of the IPO is fixed between Rs 375 and 395 per share.

The issue had comprised both an offer for sale and a fresh issue of equity shares (of Rs 5 face value) aggregating to Rs 400 crore and Rs 700 crore, respectively. The entire portion of the offer for sale had been by the promoters, i.e., the Naresh Oberoi Family Trust (Rs 280 crore) and the Kabir & Kimaya Family Trust (Rs 120 crore).

Of the net proceeds, the company had proposed to utilize Rs 525 crore towards repayment and prepayment, in full or in part, of certain outstanding borrowings availed of by the company, and the balance towards general corporate purposes. Outstanding borrowings as of Feb 28, 2026, stood at Rs 1214.25 crore.

Powerica is an integrated power solutions provider specializing in diesel generator (DG) sets for primary and standby applications, with a diversified presence across generator sets and wind power businesses. Its generator segment includes DG sets powered by Cummins engines and medium-speed large generators (MSLG) in collaboration with Hyundai, offering capacities ranging from 7.5 kVA to 10,000 kVA, along with allied products and services.

The company also operates as an independent power producer (IPP) in the wind energy segment, with a growing portfolio of operational and under-construction projects, supported by long-term power purchase agreements. Additionally, it provides engineering, procurement, and construction (EPC) and operation and maintenance (O&M) services for the balance of plant (BoP) in wind projects. With a strong presence across industrial and infrastructure sectors, Powerica continues to benefit from sustained demand for reliable power solutions in India.

Ahead of the IPO of Powerica on 23 March 2026, the company raised Rs 329.39 crore from anchor investors by allotting 83.39 lakh shares at Rs 395 each to 17 anchor investors.

For the six months ended 30 September 2025, the firm recorded a consolidated net profit of Rs 127.87 crore and sales of Rs 1,447.44 crore.

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