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Powerica Limited IPO
🔵 Upcoming NSE,BSE Mainboard IPO Energy
Issue Price
₹380–400
Issue Size
₹1450 Cr
Lot Size
37 shares
Min. Investment
₹14,800
Open Date
25 Mar 2026
Close Date
27 Mar 2026
Listing Date
1 Apr 2026
Registrar
Link Intime India
IPOGenie Review — Powerica Limited IPO
Powerica Limited is one of India's largest manufacturers and rental service providers of diesel generator sets. Established in 1993, the company serves critical power backup needs across telecommunications, infrastructure, industrial, and commercial sectors. With a fleet of over 25,000 DG sets and manufacturing facilities in Bangalore, Powerica commands a strong position in India's power backup solutions market. The company has expanded into lithium-ion battery systems and is actively diversifying into clean energy alternatives.
Powerica presents an attractive investment opportunity with consistent profitability and market leadership in DG rental services. The valuation at 21.7x PE is reasonable given sector peers. Fresh issue funds will support fleet expansion and debt reduction. We recommend subscribing for both listing gains and medium-term holding.
Strengths
- Market leader in DG set rental services with 25,000+ fleet units
- Consistent profitability with healthy margins
- Strong recurring revenue from long-term rental contracts
- Diversification into clean energy and hybrid solutions
- Pan-India presence with established relationships with telecom majors
Risks
- Long-term threat from grid improvement reducing backup power demand
- Revenue concentration risk from telecom sector (~45% of revenue)
- High capital expenditure requirements for fleet maintenance
- Cyclical nature of industrial capex affects demand
- Increasing fuel costs can compress rental margins
Powerica Limited IPO — Full Details
| IPO Date | 25 March 2026 to 27 March 2026 |
| Issue Size | ₹1450 Crores |
| Fresh Issue | ₹600 Crores |
| Offer for Sale | ₹850 Crores |
| Price Band | ₹380 – ₹400 per share |
| Face Value | ₹10 per share |
| Lot Size | 37 shares |
| Minimum Investment (Retail) | ₹14,800 |
| Listing Exchange | NSE,BSE |
| IPO Type | Mainboard IPO |
| QIB Allocation | 50% of issue |
| NII/HNI Allocation | 15% of issue |
| Retail Allocation | 35% of issue |
| Registrar | Link Intime India |
| Lead Managers | ICICI Securities, Axis Capital |
| Allotment Date | 28 March 2026 |
| Refund Initiation | TBA |
| Credit to Demat | TBA |
| Listing Date | 1 April 2026 |
Powerica Limited — Financial Summary
Revenue (FY24)
₹1240 Cr
Net Profit (FY24)
₹98 Cr
EPS
₹18.4
ROE
14.2%
P/E (Post-Issue)
21.7x
Issue Size
₹1450 Cr
Issue Type
Mixed (Fresh + OFS)
Sector
Energy
IPO Documents
⚠️ Always read the RHP (Red Herring Prospectus) before investing. It contains all material disclosures.
Frequently Asked Questions — Powerica Limited IPO
What is an IPO?
An Initial Public Offering (IPO) is the process through which a private company offers its shares to the general public for the first time on a stock exchange. This allows the company to raise capital from public investors, and gives the public an opportunity to own a piece of the company. After the IPO, the company's shares are traded on stock exchanges like NSE and BSE.
How can I apply for an IPO in India?
You can apply for an IPO through three methods: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking — this is the most common method where funds are blocked in your bank until allotment; (2) Through your stockbroker's trading platform like Zerodha Kite, Upstox, or Angel One using UPI; (3) Through your broker's UPI-based IPO application. You need a valid PAN card, Demat account, and bank account to apply. Applications above ₹5 lakh must use ASBA; below ₹5 lakh can use UPI.
What is ASBA in IPO?
ASBA (Application Supported by Blocked Amount) is a mandatory mechanism for IPO applications above ₹5 lakh. Under ASBA, your application money is blocked (not debited) in your bank account until allotment is finalized. If allotment is successful, the exact amount is debited; otherwise, the block is released. This means your funds earn interest while the IPO is being processed.
What is QIB, NII, and RII in IPO?
These are the three investor categories in an IPO: (1) QIB (Qualified Institutional Buyers) — includes mutual funds, banks, FPIs, and insurance companies; they are typically allocated 50% of the issue; (2) NII (Non-Institutional Investors), also called HNI — includes individuals, companies, and trusts applying for more than ₹2 lakh; typically 15% of the issue; (3) RII (Retail Individual Investors) — individuals applying for ₹2 lakh or less; typically 35% of the issue.
What is the difference between Mainboard and SME IPO?
Mainboard IPOs are for companies listing on the main segments of NSE and BSE and have a minimum post-issue paid-up capital of ₹10 crore. SME IPOs list on NSE Emerge (NSE SME) or BSE SME platform and are designed for smaller companies with paid-up capital between ₹1 crore and ₹25 crore. SME IPOs have higher lot sizes (often requiring ₹1-2 lakh investment), lower liquidity after listing, and are considered higher risk. Market makers are mandatory for SME IPOs to provide liquidity.
What is DRHP and RHP in IPO?
DRHP (Draft Red Herring Prospectus) is the first public document filed by a company with SEBI when it plans an IPO. It contains detailed information about the company's business, financials, management, risks, and proposed use of funds — but does not include the final issue price and dates. RHP (Red Herring Prospectus) is the final prospectus filed after SEBI approval, which includes the price band, lot size, and issue dates. Always read the RHP before investing.
What is a cut-off price in IPO?
The cut-off price is the final issue price determined after the book-building process. Retail investors and employees can bid at the cut-off price without specifying a number — this means they are willing to pay whatever price is finally determined within the price band. Bidding at cut-off is advisable for retail investors as it maximizes allotment chances.
Can I sell IPO shares on the listing day?
Yes — you can sell your IPO shares on listing day itself. Many retail investors choose to sell on listing day to book listing gains. However, if you believe in the company long-term, holding beyond listing is also a valid strategy. Note that if you sell within 1 year of allotment, gains are taxed as short-term capital gains (STCG) at 15%. Selling after 1 year attracts LTCG at 10% above ₹1 lakh.