Powerica IPO: Apply now or post-listing? Market expert Anil Singhvi weighs in

Powerica IPO: The initial public offering (IPO) of Powerica Ltd has stepped into the second day of its public subscription on Wednesday, March 25, with the issue subscribed to only 1 per cent so far, according to the provisional exchange data.

The basis of allotment of the IPO shares is expected to be finalised on March 30, 2026, and the stock is likely to list on both the stock exchanges (BSE and NSE) on April 2, 2026, tentatively.

Powerica IPO subscription status

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As of 10:50 am, the IPO had received subdued demand from investors, with bids for 2.13 lakh shares out of the net offer, resulting in a 0.01 times the overall subscription.

• The Qualified Institutional Buyers (QIBs) portion is yet to receive a bid for its 58.56 lakh shares reserved.
• The Non-Institutional Investors (NIIs) category has bid for 18,389 shares so far, out of the 43.92 lakh reserved.
• Retail Individual Investors (RIIs) have booked 0.02 times the allotted shares so far, with 1.81 lakh shares bid out of the 1.02 crore shares allotted.

Market guru Anil Singhvi's take on Powerica IPO

Earlier on Wednesday, market expert Anil Singhvi, Managing Editor at Zee Business, shared his insights on Powerica Limited's business profile and highlighted key positives and negatives.

Key positives

• Old established business model since 1984
• Strong partnership with Cummins, Hyundai and GE Vernova, kind of big players
• Strong presence in both DG set and Wind power solutions
• Company ready to benefit from rising data centre and backup power demand
• Free cash flow generating company
• Reasonable valuations compared to listed peers
• Strong names like SBI MF, HDFC MF, and ICICI MF in the anchor book

Key negatives

• Heavy dependence on the DG set business, with more than 80 per cent of revenue
• Dependent on a few big clients and suppliers
• Stable revenue and margins, but growth is not impressive
• Increase in long-term borrowings

Powerica IPO: Apply now or post-listing?

Market guru Anil Singhvi noted that the power sector is ready for strong growth, but the company still needs to show better future growth. He advised that high-risk-taking investors can consider applying for the long term, while low-risk investors may apply now but should maintain a strict stop-loss on listing below the IPO price of Rs 395.

Looking at the current market conditions, the market expert further advised that low-risk investors can also consider buying the stock post-listing.

Powerica IPO issue details

The IPO of the power solutions company is a book-build issue of Rs 1,100 crore, consisting of a mix of fresh issue of 1.77 crore shares and an offer-for-sale (OFS) of 1.01 crore shares.

Powerica IPO price band and lot size

The price band for the IPO has been fixed at Rs 375 to Rs 395 per share. Investors can bid for shares in a lot size of 37 shares. At the upper price band of Rs 395 per share, the minimum investment required for retail investors is Rs 14,615.

Powerica IPO key dates

Subscription date: From March 24, the public issue will remain open for bidding until March 27, 2026.

Allotment date: The allotment of shares is expected to be finalised on March 30, 2026.

Listing date: The Powerica IPO shares are scheduled to list on the BSE and NSE with a tentative listing date of April 2, 2026.

Powerica IPO investor category reservation details

The IPO has reserved nearly:

• 50 per cent of the net offer for Qualified Institutional Buyers (QIBs)
• 15 per cent for Non-Institutional Investors (NIIs)
• 35 per cent for Retail Investors

Powerica IPO Lead Manager and Registrar

ICICI Securities Ltd is the book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar of the issue.

About Powerica Limited

Powerica Ltd operates in the power solutions space, focusing on diesel generator (DG) sets used for both primary and backup power needs. The company provides a wide portfolio of generators, with capacities ranging from 7.5 kVA to 10,000 kVA, catering to varied industrial and commercial requirements.

Business Segments:

Generator Set Division: Offers DG sets powered by Cummins engines across multiple capacity ranges—low capacity (7.5 kVA to 160 kVA), mid-range (180 kVA to 500 kVA), and high capacity (above 500 kVA).

The company runs three manufacturing units located in Bengaluru (Karnataka), Silvassa (Dadra and Nagar Haveli), and Khopoli (Maharashtra).