Overview
Powerica IPO is a mainboard IPO that opened for subscription on 24 Mar 2026 and is now listed. The issue aggregates ₹1,400 Cr.
IPO Details
Powerica IPO is a mainboard initial public offering scheduled to be listed on Both. The issue has a price band of ₹375–₹395 per equity share with a lot size of 37 shares, translating to a minimum retail investment of ₹14,615.
The issue aggregates ₹1,400 Cr, with the subscription window open from 24 Mar 2026 to 27 Mar 2026. Allotment is expected on 30 Mar 2026 and the equity shares are scheduled to list on 2 Apr 2026.
- Type
- Mainboard
- Status
- listed
- Price band
- ₹375–₹395
- Face value
- ₹10 (typical)
- Lot size
- 37 shares
- Min investment (Retail)
- ₹14,615
- Issue size
- ₹1,400 Cr
- Fresh issue
- ₹700 Cr
- OFS
- ₹700 Cr
- Exchange
- Both
- ISIN
- TBA
- Sector
- Energy
Market Lot
Retail investors must apply for a minimum of one lot and can apply up to the retail cap of ₹2 lakh. NII / HNI investors apply above ₹2 lakh.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 37 | ₹14,615 |
| Retail (Maximum) | 13 | 481 | ₹1,89,995 |
| HNI / NII (Minimum) | 14 | 518 | ₹2,04,610 |
IPO Reservation
Per SEBI guidelines, Powerica IPO reserves shares across investor categories as follows. Final allotment percentages may vary slightly based on the final issue document.
| Category | % Reserved | Notes |
|---|---|---|
| QIB (Qualified Institutional Buyers) | Not more than 50% | Mutual funds, FIIs, banks, insurance |
| NII / HNI (Non-Institutional) | Not less than 15% | Bids ≥ ₹2 lakh |
| Retail (RII) | Not less than 35% | Bids up to ₹2 lakh |
Important Dates
- Issue Open24 Mar 2026 · Subscription opens
- Issue Close27 Mar 2026 · Subscription closes
- Allotment30 Mar 2026 · Basis of allotment finalised
- Refunds Initiated31 Mar 2026 · Funds released for non-allottees
- Listing Date2 Apr 2026 · Shares debut on the exchange
Grey Market Premium
Grey Market Premium for Powerica is yet to be tracked. We update GMP from multiple grey market sources during the subscription window. Bookmark this page and check IPO GMP Today for live updates.
Subscription Status
Powerica IPO subscription tracking will go live once the subscription window opens. Category-wise data (Retail / NII / QIB / Employee) will be available on IPO Subscription Status.
Allotment Status
Powerica IPO allotment will be finalised by the registrar (TBA) on 30 Mar 2026. Check your allotment status using your PAN, application number, or DP ID via our allotment status checker or directly on the registrar's website.
If allotment fails, the blocked funds via ASBA / UPI mandate are released back within 24-48 hours. Applying through multiple demat accounts in family members' names improves chances on oversubscribed IPOs.
About Powerica
Promoter & Holding Pattern
The promoter and promoter group hold the majority stake in Powerica prior to the IPO. Post-listing, this percentage will reduce as new equity shares are issued to the public. Detailed pre-IPO and post-IPO promoter holding data will be updated once the Red Herring Prospectus is finalised with SEBI.
Objects of the Issue
Powerica IPO proceeds will be utilised across the following objectives, as disclosed in the Red Herring Prospectus:
| Purpose | Amount (₹ Cr) | % of Issue |
|---|---|---|
| Repayment / prepayment of outstanding borrowings — direct debt reduction at company level (largest single use of proceeds) | 525 | 37.50% |
| Fresh issue balance + Offer for Sale by promoters | 875 | 62.50% |
Financial Performance
Powerica's three-year financials — revenue, PAT, assets, net worth — will be displayed here based on audited numbers from the Red Herring Prospectus. Year-on-year growth, EBITDA margins, debt-to-equity progression, and RoNW together form the basis for valuation comparison.
Valuation Snapshot
Key valuation metrics for Powerica — RoE, RoCE, EBITDA margin, PAT margin, debt-to-equity, EPS, P/E ratio, RoNW, NAV — will be updated based on FY25 numbers from the Red Herring Prospectus.
Peer Comparison
Listed peers in the Energy sector with key valuation metrics:
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Income (₹ Cr) |
|---|---|---|---|---|---|
| Kirloskar Oil Engines | — | — | — | — | — |
| Cummins India | — | — | — | — | — |
| Adani Green Energy | — | — | — | — | — |
| ReNew Energy Global | — | — | — | — | — |
Anchor Investors
Anchor investor bidding for Powerica typically opens one working day before the issue opens to the public. Anchor investors — mutual funds, FIIs, sovereign wealth funds, and insurance companies — collectively subscribe to a portion of the QIB segment. Their participation signals institutional confidence. Anchor list and total amount will be updated once SEBI publishes the anchor filing.
Lead Managers (Merchant Bankers)
Book-Running Lead Managers (BRLMs) for Powerica will be listed once confirmed in the Red Herring Prospectus. Lead managers oversee pricing, marketing, and underwriting — typically Kotak, ICICI Securities, Axis Capital, HDFC, SBI Caps, JP Morgan, or Citigroup.
IPO Registrar
The registrar for Powerica IPO will be confirmed in the Red Herring Prospectus. The registrar handles allotment, refunds, and dematerialisation of shares.
Editorial Review
How to Apply for Powerica IPO
- Open broker app — Zerodha, Upstox, Angel One, Groww, 5paisa, ICICI Direct, or any other SEBI-registered broker. Navigate to the IPO section.
- Select Powerica IPO during the bidding window (24 Mar 2026 – 27 Mar 2026).
- Enter bid details — minimum 37 shares per lot. Retail investors are recommended to bid at cut-off price (₹395).
- Submit UPI ID linked to a SEBI-approved bank.
- Approve UPI mandate from your UPI app within the deadline. Bid amount is blocked, not debited.
- Await allotment on 30 Mar 2026.
- Listing day — shares list on Both on 2 Apr 2026.