New Delhi, 24 March (H.S.):

Powerica Limited a key player in diesel generator sets production and now venturing into wind power business opened its Rs 1100 crore initial public offering for subscription today Tuesday attracting just 2 percent uptake through 1578 applications by 1130 am.

Bidding remains open until March 27 followed by allotment on March 30 demat credit April 1 and listing on BSE NSE April 2. The price band spans Rs 375 to 395 per share with a lot size of 37 shares meaning retail investors need Rs 14615 minimum for one lot or up to Rs 189995 for 13 lots totaling 481 shares. This book-built issue comprises 27848100 shares of Rs 5 face value including 17721518 fresh shares worth Rs 700 crore and 10126582 shares offer for sale fetching Rs 400 crore.

Allocation reserves up to 50 percent for qualified institutional buyers at least 35 percent retail and 15 percent non-institutional with ICICI Securities Ltd as book running lead manager and MUFG Intime India Pvt Ltd as registrar.

Financials per SEBI draft red herring prospectus reveal fluctuations. Net profit rose from Rs 106.45 crore in FY23 to Rs 226.11 crore FY24 dipped to Rs 175.83 crore FY25 and stood at Rs 134.55 crore for April-September 2025. Revenue saw Rs 2422.42 crore FY23 down to Rs 2356.77 crore FY24 up to Rs 2710.93 crore FY25 and Rs 1474.87 crore H1 FY26 while debt varied ending at Rs 571.95 crore by September 2025 reserves and surplus climbed to Rs 1158.99 crore and EBITDA was Rs 220.42 crore in that half.

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Hindusthan Samachar / Jun Sarkar