Mumbai-based Powerica wants to raise ₹1,400cr via IPO
What's the story
Mumbai-based Powerica has secured the final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company plans to raise ₹1,400 crore through this public issue. The proposal was submitted to SEBI on August 8, 2025. The IPO will consist of a fresh equity issuance worth ₹700 crore and an equal amount in an offer for sale by the promoters.
Fund utilization
IPO proceeds allocation and listing details
Of the fresh issue proceeds, around ₹525 crore is earmarked for partial or full repayment/prepayment of certain existing borrowings. The remaining amount will be used for general corporate purposes. Powerica's stocks will be listed on both BSE and NSE. ICICI Securities Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited are the book-running lead managers for this IPO, while MUFG Intime India Private Limited serves as the offer's registrar.
Company profile
Powerica's business operations and market presence
Powerica is a leading player in the diesel generator (DG) set business, covering manufacturing, marketing, supply, and complete SITC (installation, testing and commissioning), along with related on-site services. The company has been an OEM partner for Cummins for over 40 years. Its DG sets cater to various industries like hospitality, healthcare, BFSI, education, residential real estate, infrastructure, railways, metro systems, manufacturing, agriculture, IT/data centers, government, defense, and the rental market.
Financials
Financial performance and distribution network
Powerica operates three manufacturing plants in Bengaluru, Silvassa (Dadra and Nagar Haveli), and Khopoli (Maharashtra). The company's distribution network includes 19 sales and marketing offices, a registered corporate office, a 126-member sales marketing team, and 32 authorized dealers. In FY25, Powerica reported an operating revenue of ₹2,653.27 crore, up from ₹2,378.3 crore in FY23. Its net profit also rose to ₹175.83 crore in FY25 compared with ₹106.5 crore in FY23.