Powerica Fixes ₹375–395 Price Band for IPO; Issue Opens Today

Mumbai, March 24: Powerica Limited has fixed a price band of ₹375–395 per share for its upcoming initial public offering (IPO), which opened for subscription today and close on March 27. The public issue comprises 2,93,39,170 equity shares and will be conducted through the book-building process.

The company has set the face value of its equity shares at ₹5 each, with a tick size of ₹1. The IPO will be available across multiple investor categories, including institutional and retail segments, with UPI bidding enabled for individual investors (IND) and employees (EMP).

At the upper end of the price band, a single market lot of 37 shares will cost approximately ₹14,615, making it accessible to retail participants. As per regulatory norms, retail investors can bid for shares worth up to ₹2 lakh, while employees have a higher application limit of ₹5 lakh under the reserved category.

The issue includes allocations for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and other investor categories. The maximum bid quantity for QIBs has been set at 2,92,79,987 shares, while NIIs can bid for up to 1,46,39,975 shares, as per the bidding framework outlined for the offering.

ICICI Securities Limited is acting as the book-running lead manager to the issue. It is supported by co-book running lead managers IIFL Capital Services Limited and Nuvama Wealth Management Limited. MUFG Intime India Private Limited has been appointed as the registrar to the issue.

Axis Bank and Kotak Bank will serve as sponsor banks, facilitating the application process, including UPI-based mandates for eligible investors.

Investors can place bids through the ASBA (Application Supported by Blocked Amount) process via self-certified syndicate banks or through supported online platforms. Detailed bid data, including demand schedules and cumulative subscription figures, will be available on the BSE during the subscription period.

Post the closure of the issue, the basis of allotment and listing schedule will be finalised and announced in accordance with regulatory guidelines.

Powerica filed draft papers with Sebi in 2019 to launch an IPO, but later shelved the plan.

Powerica stands as an integrated power solutions provider, excelling in diesel generator sets (DG sets), medium-speed large generators (MSLG), and associated services. The company ventured into wind power in 2008 as an independent producer, evolving into a skilled engineering, procurement, and construction contractor alongside operation and maintenance services for balance-of-plant requirements.

Source: https://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=4516&type=IPO&idtype=1&status=F&IPONo=7657&startdt=24/Mar/2026