Powerica, headquartered in Mumbai, has received the green light from SEBI to raise ₹1,400 crore through an upcoming public issue. This IPO will help the company expand its operations and improve its balance sheet.
The public issue is structured as:
- ₹700 crore via fresh equity
- ₹700 crore through an offer-for-sale by promoters — Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust
Allocation of fresh issue proceeds:
- ₹525 crore for repayment/prepayment of certain borrowings
- Balance for general corporate purposes
The IPO will list on BSE and NSE, with ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management as book-running lead managers, and MUFG Intime India Private Limited acting as registrar.
Company Overview: Powerica’s Business and Operations
Powerica specialises in the diesel generator (DG) set business, covering:
- Manufacturing, marketing, and supply
- Complete SITC (installation, testing, and commissioning)
- On-site services for a variety of sectors
The company has been an OEM partner for Cummins for over 40 years, supplying DG sets across industries, including:
- Commercial: Hospitality, healthcare, BFSI, education, residential & real estate
- Infrastructure: Retail, logistics, railways, metro systems
- Manufacturing: Industrial units, process industries, dairy
- Agriculture: Cold storage, aquaculture
- IT/Data Centres, Government, Defence
- Rental Market
Powerica operates three manufacturing plants in Bengaluru (Karnataka), Silvassa (Dadra and Nagar Haveli), and Khopoli (Maharashtra). Its distribution network consists of 19 sales and marketing offices, supported by a 126-member sales team and 32 authorised dealers.
Financial Performance: Revenue and Profit
Powerica has reported steady growth over the past two fiscal years:
- Operating Revenue: ₹2,653.27 crore in FY25, up from ₹2,378.3 crore in FY23
- Net Profit: ₹175.83 crore in FY25, compared with ₹106.5 crore in FY23
The growth highlights the company’s operational strength and ability to generate consistent profits, reinforcing investor interest ahead of the Powerica IPO.
Summary
The Powerica IPO is set to raise ₹1,400 crore, with equal parts of fresh issue and offer-for-sale by promoters. Funds will primarily address existing borrowings and corporate needs.
With a strong presence in the DG set business, long-standing OEM partnerships, and growing revenue and profit figures, Powerica’s public listing provides a platform to expand operations and reach wider markets.
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