Powerica Limited, an integrated power solutions provider specialising in diesel generator sets (DG sets) for both primary and standby applications, has garnered ₹329.40 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Tuesday, March 24, 2026.
The company informed the bourses that it allocated 83,39,239 equity shares at ₹395 per share to anchor investors. Some of the marquee institutions that participated in the anchor book include SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, Quant Mutual Fund, Bandhan Mutual Fund, Ashoka WhiteOak, ITI Mutual Fund, and Bank of India Mutual Fund.
Further, participation was also seen from life insurance companies such as Kotak Mahindra Life Insurance, Edelweiss Life Insurance, and Reliance Nippon Life Insurance.
Out of the total allocation of 83,39,239 equity shares to anchor investors, 69,87,314 equity shares were allocated to eight domestic mutual funds, which applied through 11 schemes.
ICICI Securities Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.
Powerica IPO details
The initial public offering (IPO) of Powerica will open for public subscription on Tuesday, March 24. The book-built issue of about ₹1,100 crore will remain open until Friday due to a market holiday on Thursday.
The issue’s price band has been set at ₹375 to ₹395 per share. The IPO comprises a fresh issue of 1.77 crore shares and an offer for sale (OFS) of 1.01 crore shares. From the fresh issue, the company intends to raise up to ₹700 crore, while the OFS portion is expected to generate up to ₹400 crore.
As much as 50% of the net issue is reserved for qualified institutional buyers (QIBs), while 15% is reserved for non-institutional investors (NIIs). The remaining 35% is reserved for retail investors.
The IPO lot size is 37 shares, with the minimum application being one lot. At the upper price band of ₹395, the minimum investment required for retail investors is ₹14,615. The maximum lot size for retail investors is 13 lots, amounting to ₹1,89,995.
ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers of the issue, while MUFG Intime India Private Limited is the registrar of the Powerica IPO.
The company intends to utilise the net proceeds from the fresh issue of shares for the repayment of certain borrowings and for general corporate purposes.
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