📋 Powerica Ltd IPO Review 2026 — GMP, Pros Cons & Apply or Avoid?

The Powerica Ltd IPO opened on 24 March 2026 and closed on 27 March 2026 on NSE & BSE at ₹375–₹395 per share. The company raised ₹1,100 Crore comprising a fresh issue of ₹700 Crore and OFS of ₹400 Crore. Allotment was finalised on 30 March 2026 and shares listed on 2 April 2026.

🏢 Company Background & Business Model

Powerica Ltd is a Mumbai-based power solutions company specialising in Cummins-powered diesel generator (DG) sets from 7.5 kVA to 10,000 kVA. It also owns 11 wind power projects in Gujarat with 279.55 MW installed capacity. Three manufacturing facilities operate in Bengaluru, Silvassa, and Khopoli. The company serves industries, data centres, commercial buildings and infrastructure projects across India.

📊 Key IPO Details

◆ Exchange: NSE & BSE (Mainboard)

◆ Price Band: ₹375 – ₹395 per share

◆ Face Value: ₹5 per share

◆ Lot Size: 37 shares

◆ Minimum Investment (Retail): ₹14,615 (1 lot)

◆ Issue Size: ₹1,100 Crore (Fresh ₹700 Cr + OFS ₹400 Cr)

◆ Anchor Allocation: ₹329.40 Crore — SBI MF, HDFC MF, ICICI Prudential MF

◆ Listing Date: 2 April 2026 — NSE & BSE

◆ GMP Today: Check live on IndiaIPOHub

Strengths

🔹 Cummins Engine Partnership — Globally trusted engine brand across all DG set ranges.

🔹 279.55 MW Wind Power Portfolio — Diversified renewable energy adds long-term stability.

🔹 20% Revenue Growth FY25 — Revenue grew from ₹2,210 Cr to ₹2,653 Cr.

🔹 Strong Institutional Backing — ₹329.40 Crore anchor allocation from top MFs and insurers.

🔹 Debt Repayment Focus — ₹525 Crore to repay borrowings, strengthening balance sheet.

⚠️ Risks

🔸 PAT Declined 26% in FY25 — Profitability pressure due to lower other income.

🔸 High Debt of ₹1,214 Crore — Significant leverage on balance sheet.

🔸 Muted Subscription — Weak investor demand on opening day.

📅 IPO Timeline

◆ Open: 24 March 2026 | Close: 27 March 2026

◆ Allotment: 30 March 2026 | Listing: 2 April 2026 — NSE & BSE

🔍 IndiaIPOHub Recommendation

Track Powerica IPO GMP, subscription and allotment live on IndiaIPOHub. Also explore all 2026 IPOs on IndiaIPOHub.