New Delhi, 18 March (H.S.): Mumbai‑based power‑solutions provider Powerica Limited will launch its initial public offering (IPO) on 24 March, with the subscription window open until 27 March. The company has fixed the price band at ₹375–₹395 per equity share, valuing the issue at around ₹1,100 crore and marking the company’s second attempt at a stock‑market debut.
In a statement released on Wednesday, Powerica said the IPO will open for subscription on Tuesday, 24 March, and close on Friday, 27 March 2026. Anchor investors will be allowed to bid on Monday, 23 March, the day before the public issue opens.
The shares are tentatively scheduled to list on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on Thursday, 2 April 2026.
The ₹1,100‑crore IPO is structured as a blend of fresh issuance and an offer‑for‑sale (OFS). Powerica plans to raise up to ₹700 crore through the fresh issue of new shares, while the remaining ₹400 crore will come from an OFS comprising shares sold by promoter entities. The securities regulator, SEBI, has already cleared the draft offer documents, and the issue is now ready for investor bidding.
Retail and institutional investors can bid for a minimum lot size of 37 shares, with further bids allowed in multiples of 37. At the upper end of the band, one lot will cost roughly ₹14,615. The company has earmarked about ₹525 crore of the proceeds to reduce existing debt, while the remaining funds will be deployed for general corporate purposes, including working‑capital support and operational expansion.
This is not Powerica’s first attempt at an IPO. In 2019, the company had filed draft papers with SEBI to go public, but the offer was later put on hold amid market conditions and the promoter’s strategic review. With the current issue, management has positioned the move as a step toward strengthening the balance sheet and improving long‑term visibility to a broader investor base.
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Hindusthan Samachar / Jun Sarkar
