Powerica Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹395
Per ShareLot Size
37 Shares
Minimum Investment
₹14,615
Issue Size
₹1,100 Cr
Face Value
₹5
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Powerica Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.06%
Promoter Holding (Post-Issue)
77.2%
Issue Type
Book Building
ISIN
INE921L01032
About the Company
We are an integrated power solutions provider specialising in diesel generator sets ("DG sets"), medium speed large generators ("MSLG"), and related services. Our comprehensive product range spans capacities from 7.5 kVA to 10,000 kVA, serving the primary and standby power needs of varied industries. Leveraging our expertise, we expanded into the wind power sector in 2008 as an independent power producer and have since developed capabilities as an engineering, procurement, and construction contractor, as well as an operation and maintenance service provider for balance of plant.
Industry Overview
According to the F&S Report, standby power remains a vital part of India's energy infrastructure, helping ensure operational continuity during power outages or voltage fluctuations. According to the F&S Report, ongoing urbanisation, population growth, and expansion of residential, commercial, industrial, and infrastructure projects have intensified the need for reliable backup power across the country. According to the F&S Report, despite ongoing improvements in grid reliability, power disruptions remain a persistent concern across several regions in India. According to the F&S Report, this has led to increased adoption of DG sets, UPS systems, inverters, and battery storage solutions across diverse sectors such as commercial, manufacturing, information technology and data centres, telecom, and infrastructure.
Company History
Our Company was incorporated as `Consolidated Power Systems Private Limited', a private limited company under the Companies Act, 1956, pursuant to certificate of incorporation dated May 4, 1984 issued by the Registrar of Companies, Maharashtra at Mumbai ("RoC"). Subsequently, the business of Hindustan Industrial & Electrical Engineers, a partnership firm constituted amongst Naresh Chander Oberoi, Kharatiram Kharak Puri and Mitter Sen was assigned to our Company pursuant to an agreement to assign dated May 23, 1984 with effect from June 1, 1984. Our Company became a deemed public limited company under Section 43(A) (1A) of the Companies Act, 1956, and the word "private" was struck off from the name of our Company with effect from June 15, 1988 pursuant to a special resolution passed by our Shareholders on July 15, 1988. Subsequently, the name of our Company was changed from `Consolidated Power Systems Limited' to `Powerica Limited', pursuant to a special resolution passed by our Shareholders on September 16, 1989. A fresh certificate of incorporation dated October 5, 1989 was accordingly issued by the RoC.
Products & Services
- The Company is an integrated power solutions provider specialising in diesel generator sets ("DG sets"), medium speed large generators ("MSLG"), and related services.
Growth Strategy
- Capitalize on Continued Demand for Generator Sets.
- Continue to Develop our Wind Power Business and diversify further into wind solar hybrid projects.
- Continue to Develop our Allied Businesses and RECD Business through our Associate.
- Further Develop and Strengthen our Alliances to Improve our position in India.
- Continuously evaluate expansion opportunities, considering policy and consumer base attractiveness.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 2,78,53,332 equity shares of face value of Rs. 5 each ("Equity Shares") of Powerica Limited ("Company") for cash at a price of Rs. 395 per equity share (Including a Share Premium of Rs. 390 per Equity Share) ("Offer Price") aggregating to Rs. 1,100.00 Crores comprising a fresh issue of 1,77,26,751 equity shares of face value of Rs. 5 each aggregating to Rs. 700.00 Crores by the company ("Fresh Issue") and an offer for sale of 1,01,26,581 equity shares of face value of Rs. 5 each aggregating to Rs. 400.00 Crores ("Offered Shares") by the Promoter Selling Shareholders (As Defined Below), consisting of 70,88,607 equity shares of face value of Rs. 5 each aggregating to Rs. 280.00 Crores by Naresh Oberoi Family Trust and 30,37,974 equity shares of face value of Rs. 5 each aggregating to Rs. 120.00 Crores by Kabir and Kimaya Family Private Trust (Collectively the "Promoter Selling Shareholders", and such equity shares offered by the promoter selling shareholders, the "Offered Shares") ("Offer for Sale", and together with the fresh issue, the "Offer"). The company, in consultation with the brlms, may consider pre-ipo placement, aggregating up to Rs.140.00 crores, prior to filing of the pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlms. If the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the fresh issue, subject to compliance with Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as Amended. The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the fresh issue. Prior to the completion of the offer, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken). The offer includes a reservation of 55,865 equity shares of face value of Rs. 5 each, aggregating to Rs. 2 crores (Constituting 0.04% of the post-offer paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The company, in consultation with the brlms may offer a discount of up to 9.37% (Equivalent to Rs. 37 per Equity Share) of the offer price to eligible employees bidding in the employee reservation portion ("Employee Discount"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer Constituted 22.01% and 21.97% of the post-offer paid-up equity share capital of the company, respectively. Price Band: Rs. 395 per equity share of face value of Rs. 5 each. The floor price is 79 times the face value of the equity shares. Bids can be made for a minimum of 37 equity shares of face value of Rs. 5 each and in multiples of 37 equity shares of face value of Rs. 5 each thereafter. A discount of Rs. 37per equity share is being offered to eligible employees bidding in the employee reservation portion
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Established position in the generator set market.
- Collaborations and alliances with established industry players.
- Strong technical and execution capabilities.
- Experienced and proven management team.
- Balanced business portfolio with strong financial performance.
- The company is significantly dependent on its Generator Set Business, which contributed 85.00%, 86.30%, and 82.79% of the company's revenue from operations in Fiscals 2025, 2024 and 2023, respectively. Any negative developments affecting the company's Generator Set Business could have a material adverse impact on its business, financial condition, results of operations and prospects.
- The company relies on its business collaborations, including with Cummins for engines and alternators for the company's DG sets. Revenue from sale of DG sets powered by Cummins engines accounted for 70.39%, 71.04% and 56.77% of its revenue from operations for Fiscals 2025, 2024 and 2023, respectively. Similarly, the company relies on Hyundai for the supply of MSLG sets. Any supply disruption from such partners could adversely impact the company's business and results of operations.
- The independent power producer ("IPP") operations in our Wind Power Business which contributed 7.56%, 9.90% and 8.76% of the company's total revenue from operations for Fiscals 2025, 2024 and 2023, respectively, rely on key relationships with OEMs to facilitate supply of components and effective O&M services across most of its Operational Wind Power Projects, as well as for future IPP developments. Any deterioration in these relationships, or performance or financial failure of our OEMs, could adversely affect the company's business, results of operations, and financial condition.
- The company has historically relied, and may continue to relies, on Cummins India and the company's top five suppliers for a significant portion of its materials and components. If these key suppliers fails to deliver the required quantities, meet delivery schedules, or adhere to specified quality standards or technical specifications, the company's business operations and financial condition could be adversely affected.
- The company is dependents on its power purchase agreements ("PPAs") to sell power and generate the company's revenue from operations. Furthermore, the terms of our PPAs may expose us to certain risks that may affect its future results of operations and cash flows.