Powerica IPO Update

IPO Details

• IPO Value: ₹1,100 crore
• Price Band: ₹375- ₹395 per share
• Company Valuation: Approximately ₹5,000 crore
• IPO Period: March 24-27
• Listing Date: April 2 (BSE and NSE)

Anchor Investor Subscription

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• Amount Raised: ₹329.40 crore
• Investors: Institutional investors including SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, and insurance companies like Kotak Life, Edelweiss Life, and Reliance Nippon Life

IPO Allocation

• QIB Allocation: Not more than 50% of the shares
• NII Allocation: Not less than 15% of the shares
• Retail Allocation: Not less than 35% of the shares
• Employee Allocation: Up to ₹2 crore

Listing and Refund Details

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• Basis of Allotment: Finalised on March 30
• Refunds: Initiated on April 1
• Share Crediting: Credited to demat accounts on April 1
• Listing Date: April 2

Grey Market Premium (GMP)

• Current GMP: ₹4
• Estimated Listing Price: ₹399 per share (1.01% higher than IPO price)
• Grey Market Trends: Indicates a downward trend

Brokerage Recommendations

• Canara Bank Securities: "SUBSCRIBE for Long-Term Investment"
• Swastika Investmart: Apply carefully, considering risk and long-term investment
• Equivision: Avoid the issue due to concentration in segments and reliance on OEM partnerships

Subscription Status

• Retail Portion: 2% subscribed
• NII Portion: 1% subscribed
• QIB Portion: Not yet received bids
• Employee Portion: 30% subscribed

Offer Details

• New Issue: ₹700 crore
• Promoter Sale: ₹300 crore
• OFS Size: Decreased to ₹700 crore from ₹1,400 crore
• Use of Funds: ₹525 crore for debt reduction and general corporate purposes