Powerica IPO Details

The IPO date of Powerica Limited is yet to be announced. It will be a Book-Built Issue, with the company planning to raise around ₹1,400 crores. The IPO comprises a fresh issue of ₹700 crores and an Offer for Sale (OFS) of ₹700 crores, aggregating up to [.] equity shares of face value ₹5 each.

As per the Draft Red Herring Prospectus (DRHP), the IPO share allocation is structured as follows:

• QIBs (Qualified Institutional Buyers): 50%
• Retail Investors (RIIs): 35%
• NIIs (High Net-worth Individuals): 15%

The shares will be listed on both NSE and BSE.

IPO Structure & Pre-IPO Placement

• Fresh Issue: ₹700 crores
• Offer for Sale: ₹700 crores, including:
  • Naresh Oberoi Family Trust: ₹490 crores
  • Kabir & Kimaya Family Private Trust: ₹210 crores

Additionally, Powerica is considering raising ₹140 crores in a pre-IPO placement. If the pre-IPO round is successful, the size of the fresh issue will be reduced proportionately.

Objects of the Issue

• ₹525 crores → To repay/prepay part of its outstanding borrowings (total debt stood at ₹1,012.60 crores)
• Balance proceeds → To be used for general corporate purposes, including expansion, working capital, and strengthening the company’s balance sheet

About Powerica Limited

Founded in 1984, Powerica Limited is a leading power solutions provider in India with over 40 years of experience in the energy industry.

The company’s business is broadly divided into two segments:

1. Diesel Generator (DG) Sets & Related Services
   • Accounts for 85% of total revenue
   • Powered by Cummins engines and MSLG units with Hyundai
   • Wide presence across industrial, commercial, and infrastructure sectors
2. Wind Power Business
   • Entered in 2008
   • Operates 11 wind projects in Gujarat with a combined capacity of 279.55 MW
   • Contributes 15% of total revenue

Powerica has built a strong reputation by serving diverse industries such as IT, telecom, healthcare, manufacturing, data centers, and infrastructure projects, making it one of India’s most reliable names in distributed energy solutions.

Financial Performance

• The company reported strong top-line growth in FY25, backed by robust demand for DG sets and renewable energy solutions. However, net profit declined by 26.3% due to higher input costs, debt servicing, and fluctuations in the wind energy business.

Strengths of the Company

• 40+ years of experience in power generation and energy solutions
• Strong brand partnerships with Cummins and Hyundai
• Diversified business model – conventional (DG sets) and renewable (wind power)
• Established presence with clients across industrial, commercial, and public sector enterprises
• Proven track record in executing large-scale power projects

IPO Lead Managers (Merchant Bankers)

The appointed Book Running Lead Managers (BRLMs) for the IPO are:

• ICICI Securities Limited
• IIFL Capital Services Limited
• Nuvama Wealth Management Limited