Powerica Ltd is launching its IPO worth ₹1,100 crore today, offering investors a chance to buy shares in the power solutions company.
The issue includes ₹700 crore through fresh equity and ₹400 crore via sale of promoter shares.
Here’s a simple guide to understand the IPO before you decide to invest.
Contents
IPO size and key players
The IPO is a book-built issue of ₹1,100 crore:
Fresh equity: ₹700 crore from 1.77 crore shares
Offer for Sale (OFS): ₹400 crore from promoters selling 1.01 crore shares
Book Running Lead Managers (BRLMs): ICICI Securities, IIFL Capital Services, Nuvama Wealth Management
Registrar: MUFG Intime India Private Limited
This structure ensures both new capital for the company and exit options for promoters.
Important dates to note
Bidding opens: March 24, 2026
Bidding closes: March 27, 2026 (markets closed on March 26 for Shree Ram Navami)
Allotment finalisation: March 30, 2026
Share credit and refunds: Expected by April 1, 2026
Listing on stock exchanges: April 2, 2026
Timing is crucial if you plan to apply, especially with a holiday in between.
3. Grey Market Premium (GMP) trends
Unlisted shares are trading at a 0.76% premium, suggesting a possible listing price of ₹398
Earlier, GMP indicated a 3.29% premium, or ₹408 listing price
Note: GMP is unofficial and can change based on market sentiment
This gives an idea of early investor demand but isn’t a guaranteed indicator.
How much can you apply for?
Minimum lot size: 37 shares (≈ ₹14,615 at the upper price)
Non-Institutional Investors (NIIs):
Small NII: 14 lots (≈ ₹2.05 lakh)
Big NII: 69 lots (≈ ₹10.08 lakh)
This helps investors plan their subscription according to their category
How the funds will be used
Of the ₹700 crore raised through fresh equity:
₹525 crore will go to repay net borrowings
Remaining funds will be used for general corporate purposes
This shows the company is focusing on reducing debt while maintaining capital for business needs.
Key takeaway: Powerica’s IPO is structured to provide fresh capital for growth while also letting promoters offload shares. Investors should watch pricing trends, bidding dates, and GMP before applying.