Powerica Limited is a power solutions company specializing in diesel generator sets (DG sets) used for both primary and backup power requirements across industries.
The company offers a wide range of DG sets, with capacities ranging from 7.5 kVA to 10,000 kVA, catering to diverse industrial, commercial, and infrastructure applications.
Core Business Segments:
- Generator Set Business Division: Core segment manufacturing Cummins-powered DG sets (7.5–10,000 kVA) across all categories, with 3 plants in Bengaluru, Silvassa, and Khopoli, serving industries needing reliable power.
- Wind Power Business: Powerica operates 11 wind projects in Gujarat with a total capacity of 279.55 MW, generating stable long-term revenue and strengthening its position in India’s renewable energy space.
- Emission Control Solutions: Through its associate Platino Automotive, Powerica offers RECD solutions to reduce diesel engine emissions, supporting compliance and adding a sustainability layer to its DG business.
Powerica IPO – Details
| IPO Opening Date | 24 March 2026 |
| IPO Closing Date | 27 March 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,78,48,100 Shares Worth ₹1100.00 Crore Fresh Issue: 1,77,21,518 Shares Worth ₹700.00 Crore Offer For Sale: 1,01,26,582 Shares Worth ₹400.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹375 – ₹395 per share |
| Market Lot | 37 Shares |
| Min Order | 37 Shares [ 1 Lot ] |
| Employee Discount | ₹37 |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Powerica IPO – Date Schedule
| IPO Open Date | 24 March 2026 |
| IPO Close Date | 27 March 2026 |
| Basis of Allotment | 30 March 2026 |
| Initiation of Refund | 01 April 2026 |
| Credit of Shares to Demat Account | 01 April 2026 |
| IPO Listing Date | 02 April 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 27, 2026 |
Powerica IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,615 |
| Retail (Max) | 13 | 481 | ₹1,89,995 |
| S-HNI (Min) | 14 | 518 | ₹2,04,610 |
| S-HNI (Max) | 68 | 2516 | ₹9,93,820 |
| B-HNI (Min) | 69 | 2553 | ₹10,08,435 |
Competitive Strength
- Established Position in the Generator Set Market.
- Collaborations and Alliances with Established Industry Players.
- Strong Technical and Execution Capabilities.
- Large and Diversified Customer Base.
- Experienced and Proven Management Team.
- Strong Financial Performance.
Company Promoters
- 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
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹2,422.42 Cr | ₹2,222.38 Cr | ₹106.45 Cr | ₹278.88 Cr |
| 31 March 2024 | ₹2,356.77 Cr | ₹2,016.04 Cr | ₹226.11 Cr | ₹177.52 Cr |
| 31 March 2025 | ₹2,710.93 Cr | ₹2,465.30 Cr | ₹175.83 Cr | ₹300.80 Cr |
| 30 September 2025 | ₹1,474.87 Cr | ₹1300.00 Cr | ₹134.55 Cr | ₹571.95 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 11.60% |
| ROCE | 13.90% |
| Debt/Equity | 0.40 |
| RoNW | 10.62% |
| PAT Margin | 9.12% |
| EBITDA Margin | 15.23% |
| Price to Book Value | 3.54 |
| Pre IPO | Post IPO | |
| EPS (₹) | 16.16 | 21.26 |
| P/E (x) | 24.45 | 18.58 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Prepayment/repayment of certain outstanding borrowings availed by our Company, in part or full. | ₹525.00 |
| General corporate purposes. |
Powerica IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | Cummins India Limited | 64.13 |
| 2 | 2 | Kirloskar Oil Engines Limited | 43.24 |
| 3 | 10 | NTPC Green Energy Limited | 129.40 |
| 4 | 2 | Acme Solar Holdings Limited | 50.74 |
| 5 | 10 | Adani Green Energy Limited | 101.53 |
✅Strengths
- Strong Cummins-powered DG business.
- Wide range: 7.5 kVA – 10,000 kVA.
- Diversified model: DG + Wind power.
- 279.55 MW wind portfolio → stable, recurring income.
- 3 manufacturing plants → better control & execution.
- Entry into emission control (RECD) → future-ready.
⚠️Risks
- High dependence on DG business revenue.
- Reliance on Cummins engines.
- Regulatory pressure on diesel generators.
- Wind business exposed to weather & policy risks.
- Wind assets concentrated in Gujarat.
- Demand linked to economic/industrial cycles.
- High competition impacting margins.
Powerica IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 77.99% |
Powerica IPO Prospectus
Company Contact Information
| Powerica Ltd. 9th Floor, Bakhtawar, Nariman Point, Mumbai, Maharashtra, 400021 Phone: 022 – 43152525 Email: investorrelations@powericaltd.com Website: https://www.powericaltd.com/ |
Powerica IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: +91-22-4918 6270 Email: powerica.ipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Powerica IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. IIFL Capital Services Limited 3. Nuvama Wealth Management Limited |
Powerica IPO FAQs
| What is the Powerica IPO? Powerica IPO is a main-board IPO. The issue is priced at ₹375 to ₹395 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Powerica IPO open? The IPO is to open on 24 March 2026 for QIB, NII, and Retail Investors. |
| What is Powerica IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Powerica IPO Size? Powerica IPO size is ₹1100.00 Crore. |
| What is the Powerica IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 37 Shares with ₹14,615, while the maximum bid is 481 Shares with ₹1,89,995. |
| What is the Powerica IPO Allotment Date? Powerica IPO allotment date is 30 March 2026. |
| What is the Powerica IPO Listing Date? Powerica IPO listing date is 02 April 2026. The IPO is to be listed on the BSE and the NSE. |
