Powerica was incorporated on May 4, 1984. The company is an integrated power solutions provider specialising in diesel generator sets (DG sets) for both primary and standby applications. It has been an original equipment manufacturer (OEM) for Cummins India and its affiliates for over four decades
| Bidding Dates |
|---|
| 24 Mar 2026 - 27 Mar 2026 |
| Subscription |
|---|
| 1.45x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,875 | 1 | 13 | 37 | 27.8 M | ₹375 - ₹395 | 77.99 % | ₹10443.0 M - ₹11000.0 M | RHP DOC |
Powerica IPO SUBSCRIPTION STATUS
27 Mar '26Powerica IPO overall subscription rate was 1.45 times the total available shares
Powerica IPO retail subscription rate was 0.15 times in the retail segment
Powerica IPO non-institutional investor subscription rate was 0.44 times in the non-institutional investor category
Powerica IPO Qualified Institutional Bidder subscription rate was 4.5 times the available shares for Qualified Institutional Bidder
Powerica IPO Employees subscription rate was 1.23 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
27 Mar 2026 (Day 3) | 0.15x | 0.44x | 4.5x | 1.23x |
25 Mar 2026 (Day 2) | 0.04x | 0.01x | 0x | 0.81x |
24 Mar 2026 (Day 1) | 0.02x | 0.01x | 0x | 0.3x |
Powerica FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 1,447.4 | 128.9 | 219.7 | -221.5 | 15.2% |
| FY25 | 2,653.3 | 166.8 | 247.4 | -59.2 | 13.0% |
| FY24 | 2,210.0 | 226.3 | 283.4 | 155.3 | 16.4% |
| FY23 | 2,378.3 | 106.5 | 252.2 | 208.8 | 14.0% |
Powerica IPO SUBSCRIPTION STATUS DETAILS
Powerica had 27.8 M shares on offer
Powerica IPO offer price was in the range ₹375 - ₹395
Powerica IPO minimum Investment was ₹13875
Powerica IPO issue size was ₹ 10443.0 M - ₹ 11000.0 M
Powerica had a minimum lot size of 37 Shares per application
Powerica NUMBER OF SHARES ON OFFER
Powerica IPO IMPORTANT DATES
| Issue Open Date | 24 Mar 2026 |
| Issue close Date | 27 Mar 2026 |
| Allotment Date | 30 Mar 2026 |
| Refund Date | 01 Apr 2026 |
| Demat Account Credit Date | 01 Apr 2026 |
| Listing Date | 02 Apr 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Powerica Allotment Status | Exchange/ Registrar |
Powerica IPO subscription opened on 24 Mar 2026, and closed on 27 Mar 2026
IPO allotment for Powerica was finalized on Monday, 30 Mar 2026
IPO listing for Powerica was on NSE and BSE on Thursday, 02 Apr 2026
Powerica IPO LISTING GAINS
| Issue Price (adjusted) | 395.0 |
| Listing Open Price | 366.0 |
| Listing Close Price | 390.0 |
| Listing Gain% | -7.3% |
| Current Gain% | 35.0% |
Powerica Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Powerica Ltd. | 533.2 | 6747.5 | 24 | 0.4 | 2.1 | 13.4 | 6.8 | 3054.6 | 12.7 | 267.3 | 60.2 | 22.2 | 68.5 |
| Cummins India Ltd. | 5426 | 150408.7 | 63.5 | 6 | 11.9 | 27.9 | 20.9 | 12660.5 | 16.8 | 2361.8 | 18.1 | 85.4 | 10.6 |
| GE Vernova T&D India Ltd. | 4299 | 110074.4 | 84.3 | 1.2 | 16.4 | 45.8 | 15.9 | 6297.2 | 44.6 | 1233.2 | 102.7 | 51 | 70.6 |
| 3M India Ltd. | 36035 | 40593.8 | 77.7 | 6.4 | 8 | 29.5 | 16.6 | 5138.5 | 13.8 | 522.3 | 9.7 | 463.7 | 12.2 |
| Kirloskar Oil Engines Ltd. | 2161.7 | 31457 | 57.6 | 3.7 | 4 | 15.9 | 5.3 | 7771.2 | 21.5 | 574.3 | 17.4 | 37.5 | 15.8 |
| Jyoti CNC Automation Ltd. | 784.3 | 17836.8 | 55.4 | -12.6 | 8.1 | 16.8 | 9.3 | 2153.6 | 17.5 | 336 | 6.3 | 14.1 | -4.4 |
Powerica INFORMATION ON IPO ISSUE
About Powerica
Powerica was incorporated on May 4, 1984. The company is an integrated power solutions provider specialising in diesel generator sets (DG sets) for both primary and standby applications. It has been an original equipment manufacturer (OEM) for Cummins India and its affiliates for over four decades
Object of the Issue
- Prepayment/repayment of certain outstanding borrowings availed by the company, in part or full
- General corporate purposes
Powerica - PROMOTERS
| Name |
|---|
| Naresh Chander Oberoi |
| Bharat Oberoi |
| Renu Naresh Oberoi |
| Jai Ram Oberoi |
| Naresh Oberoi Family Trust |
| Bharat Oberoi Family Trust |
| Kabir and Kimaya Family Private Trust |
Powerica - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Naresh Chander Oberoi | Chairman & Managing Director |
| Bharat Oberoi | Joint Managing Director |
| Pradeep Omprakash Gupta | Whole-time Director |
| Renu Naresh Oberoi | Whole-time Director |
| Jai Ram Oberoi | Whole-time Director |
| Maheswar Sahu | Independent Director |
| Udaya Shankar Jena | Independent Director |
| Sowmya Chaturvedi | Independent Director |
| Sunil Godwin Lobo | Independent Director |
| Tapan Ray | Independent Director |
Powerica Book Running Lead Manager
ICICI Securities Limited
powerica.ipo@icicisecurities.com
IIFL Capital Services Limited
powerica.ipo@iiflcap.com
Nuvama Wealth Management Limited
Powerica@nuvama.com
Powerica Registrar to the Offer
MUFG Intime India Private Limited
powerica.ipo@in.mpms.mufg.com
Powerica Strengths
Technical & execution capabilities
The company’s strengths lie in technical expertise and execution excellence, supported by advanced technology and a skilled workforce. Its capabilities span precision engineering, modern manufacturing, and strict quality control, ensuring reliable and innovative products
Large & diversified customer base
The company serves a large and diversified customer base in India, with DG set clients spanning commercial, infrastructure, manufacturing, agriculture, IT/data centres, government, defense, and rental sectors
Balanced business portfolio
The company has a balanced portfolio of Generator Set and Wind Power businesses, ensuring both stability and growth. Rising power demand, grid pressures, and expanding sectors like IT, EV, telecom, and data centres drive strong potential for DG sets as critical backup solutions (F&S Report)
Powerica Risks
Supply chain risks
The company’s engine and generator set suppliers face stringent global emission and noise regulations, requiring costly product adaptations to meet changing standards. Regulatory shifts and rising environmental concerns could lead suppliers to scale down or discontinue products, impacting the company’s supply, operations, and financial performance
Capital intensive
The company’s Wind Power Business is capital-intensive, requiring continuous investment for project development, expansion, and maintenance. Rising costs, delays, or unforeseen challenges may increase expenses, affect project timelines, and require additional financing
Operational & environmental risk
The company’s operations involve hazardous activities and materials that may cause operational disruptions, personnel injury, environmental pollution, or legal liabilities, potentially impacting its business, cash flow, and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 400.0 crore, of 10,126,582 shares. It also consists of a fresh issue of Rs 700.0 crore.
The promoters of the company are Naresh Chander Oberoi, Bharat Oberoi, Renu Naresh Oberoi, Jai Ram Oberoi, Naresh Oberoi Family Trust, Bharat Oberoi Family Trust and Kabir and Kimaya Family Private Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 375.0 - 395.0.
The IPO application opens on Mar 24, 2026 and closes on Mar 27, 2026.
The minimum lot size for the IPO is 37. The maximum lot size for the IPO is 481.
For all category investors, the minimum application amount for this IPO is Rs. 13,875.0, the maximum value for this IPO is Rs 189,995.0.
This IPO will be allotted on Mar 30, 2026.
The refund will be credited to your account on Apr 01, 2026.
The allotted shares will be credited to your demat on Apr 01, 2026.
Powerica Ltd.’s shares listed on the stock exchanges on Apr 02, 2026.