Powerica IPO: Key Details and Analysis

IPO Overview

• IPO Size: ₹1,100 crore
• Offer Price: ₹375 to ₹395 per share
• Valuation: ₹5,000 crore
• Listing: BSE and NSE

IPO Timeline

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• Launch Date: March 24
• Closing Date: March 27

IPO Structure

• Fresh Issue: ₹700 crore
• Offer for Sale: ₹400 crore by existing shareholders

Company Overview

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• Established: 1984
• Business: Integrated power solutions provider specializing in diesel generator sets (DG sets)
• Manufacturing Facilities: Bengaluru, Karnataka; Silvassa, Dadra and Nagar Haveli; and Khopoli, Maharashtra

Financials

• Revenue from Operations: ₹2,653 crore (FY25)
• Profit After Tax: ₹175.83 crore (FY25)

Key Risks

• Dependence on Generator Business: 80.50% of revenue from operations for the six-month period ended September 30, 2025
• Reliance on Suppliers: Significant portion of materials and components sourced from Cummins India and top five suppliers

Industry Overview

• Standby Power: Vital part of India's energy infrastructure
• Renewable Energy: India emerging as a global leader, with wind power playing a pivotal role
• Installed Capacity: ~53 GW of wind energy capacity as of September 2025

Grey Market Premium (GMP)

• GMP: ₹8
• Premium: 2%