Upcoming IPO: Powerica gets Sebi nod to raise ₹1,400 crore via IPO

Mumbai-based Powerica has received final approval from the markets regulator Securities and Exchange Board of India (SEBI) to raise ₹1,400 crore through an initial public offering (IPO).

The company submitted its draft papers to SEBI on August 8, 2025.

The public issue will include a fresh equity issuance of ₹700 crore and an offer for sale of ₹700 crore by the promoters — Naresh Oberoi Family Trust and the Kabir and Kimaya Family Private Trust.

Of the fresh issue proceeds, ₹525 crore is earmarked for partial or full repayment/prepayment of certain existing borrowings, with the remainder to be used for general corporate purposes.

The shares of Powerica IPO are proposed to be listed on the BSE and NSE.

ICICI Securities Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.

About the company

The company is involved in the diesel generator (DG) set business, covering manufacturing, marketing, supply, and complete SITC—installation, testing, and commissioning—along with related on-site services. It is also an OEM partner for Cummins and has maintained this association for more than 40 years.

Its DG sets cater to a wide range of industries, including commercial segments (hospitality, healthcare, BFSI, education, residential and other real estate), infrastructure (retail infrastructure, logistics, railways and metro systems), manufacturing (industrial units, process industries, dairy), agriculture (such as cold storage and aquaculture), IT/data centres, government and defence, as well as the rental market.

According to the Draft Red Herring Prospectus (DRHP), the company operated three manufacturing plants located in Bengaluru (Karnataka), Silvassa (Dadra and Nagar Haveli) and Khopoli (Maharashtra). Its distribution network included 19 sales and marketing offices besides the registered and corporate offices, supported by a 126-member sales and marketing team and 32 authorised dealers.

Powerica reported operating revenue of ₹2,653.27 crore in FY25, up from ₹2,378.3 crore in FY23. Net profit rose to ₹175.83 crore in FY25 compared with ₹106.5 crore in FY23.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.