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Powerica plans ₹1,400 crore IPO to boost growth
Mumbai-based Powerica is gearing up for a ₹1,400 crore IPO, aiming to boost its growth and reach.
The offer includes a fresh issue of ₹700 crore and an offer-for-sale from the promoter family trusts.
There's also a special discount for employees, which is always nice to see.
Company runs 3 manufacturing plants
Since 1994, Powerica has been making diesel generators and building wind power projects—think cleaner energy in Gujarat with 11 wind farms totaling nearly 280MW.
The company runs three manufacturing plants and saw its revenue jump 20% this year to ₹2,653 crore, though profits dipped a bit this year to ₹176 crore.
ICICI Securities and IIFL Capital are managing the IPO, with plans to list on both BSE and NSE.