Powerica's ₹1,100cr IPO to open next week: Key details
Powerica is launching its IPO with shares priced between ₹375 and ₹395, aiming to raise ₹1,100 crore.
Of the ₹1,100 crore IPO, ₹700 crore is a fresh issue; ₹525 crore of the fresh issue will be used to repay certain debt and the remaining ₹175 crore will be used for general corporate purposes.
The ₹400 crore portion is an Offer For Sale by existing shareholders.
How to apply for the Powerica IPO?
The IPO opens March 24 and closes March 27.
Shares are split: 50% for big institutional investors, 15% for high-net-worth folks, and 35% for regular retail investors.
If you're a retail investor, the minimum bid is one lot (37 shares), which will cost you about ₹14,615.
Financials of the company
Powerica has been around since the 1980s, making diesel generator sets and now also renewable energy solutions.
Last year they pulled in ₹2,653.3 crore in revenue with profit at ₹166.8 crore, down 26.3% year-on-year.
Their returns look strong (ROE at 17%, ROCE at 27%), and their debt levels are pretty manageable too.