Powerica's ₹1,100-Crore IPO to Open for Subscription on March 24: A Closer Look at the Offering.

Powerica IPO Details

Initial Public Offering (IPO) Powerica, a power solutions provider, will open for public subscription on March 24 in the primary market. The Rs 1,100-crore initial share sale has a price band of Rs 375-395 per share, valuing the company at approximately Rs 5,000 crore.

IPO Timeline

• March 23: Bidding for anchor investors will take place.
• March 24-27: Public subscription will be open.
• March 30: IPO allotment is expected.
• April 2: Powerica will make its stock market debut.

Company Overview Powerica is an integrated power solutions provider that specializes in diesel generator sets (DG sets), medium speed large generators (MSLG), and related services. The company expanded into the wind power sector in 2008 and has since developed capabilities as an engineering, procurement, and construction contractor, as well as an operation and maintenance service provider for balance of plant.

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Manufacturing Facilities Powerica operates three manufacturing facilities in Bengaluru, Silvassa (Dadra and Nagar Haveli), and Khopoli (Maharashtra).

Note This is Powerica's second attempt to go public, following a previous attempt in 2019 that was shelved. According to grey market activity trackers, the shares of Powerica are commanding a flat GMP in the unofficial market.