Powerica IPO GMP: Power solutions provider Powerica is scheduled to make its stock market debut on the BSE and NSE on Thursday, April 2. The company’s ₹1,100 crore IPO saw moderate demand during its three-day bidding window.
The issue managed to sail through on the final day of subscription on Tuesday, March 24, mainly due to strong interest from qualified institutional buyers (QIBs), while the other investor categories remained undersubscribed.
The IPO had opened for public subscription on March 20 and concluded on March 24. The company had fixed the price band for the issue at ₹163 to ₹172 per share.
Powerica IPO GMP ahead of listing
Ahead of listing on March 30, the grey market premium (GMP) for Powerica IPO showed muted price. It is currently at ₹7 on April 1. The current GMP signals that the IPO listing price is likely to be ₹402, up 1.77% from the issue price of ₹395.
Powerica IPO Subscription
The IPO was subscribed 1.53 times by the end of Day 3. The QIB segment saw 4.74 times subscription, while the retail individual investors quota was subscribed 16% of their allotted portion. The non-institutional investor (NII) category was subscribed 47%. Lastly, the employee portion was booked 1.30 times.
Powerica IPO received bids for 2.98 crore shares against the total offer of 1.95 crore shares.
Powerica IPO details
The Powerica IPO comprises a fresh issue of ₹700.21 crore and an offer for sale (OFS) of ₹400.00 crore.
The size of the OFS has been reduced from the earlier proposed ₹700 crore, bringing the total IPO size to ₹1,000 crore, lower than the ₹1,400 crore proposed in the draft papers filed in August 2025. The Naresh Oberoi Family Trust and the Kabir and Kimaya Family Private Trust are among the selling shareholders in the OFS.
The face value of each equity share is ₹5, while the price band has been fixed at ₹375 to ₹395 per share. Retail investors can bid for the Powerica IPO with a minimum of 1 lot, and each lot consists of 37 shares, taking the minimum investment amount to ₹14,615.
Out of the proceeds from the fresh issue, ₹525 crore will be used towards debt repayment, while the remaining amount will be utilised for general corporate purposes. Powerica has appointed ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management as the book-running lead managers for the public issue, while MUFG Intime India Pvt. Ltd. is acting as the registrar to the issue.
Ahead of the IPO opening on Monday, Powerica had raised ₹329.40 crore from anchor investors. According to a circular uploaded on the BSE website, shares were allotted to several institutional investors, including SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Quant Mutual Fund, and Bandhan Mutual Fund, along with insurance companies such as Kotak Life, Edelweiss Life, and Reliance Nippon Life.
Under the allocation structure, Powerica IPO has reserved not more than 50% of the issue for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors (NIIs), and not less than 35% for retail investors. In addition, shares worth up to ₹2 crore have been reserved under the employee portion.
As per the tentative schedule, the basis of allotment for the Powerica IPO was finalised on Monday, March 30. The company is scheduled to begin the refund process today, April 1, while shares are also expected to be credited to the demat accounts of successful allottees on the same day, following the refunds.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
