Powerica Files ₹1,400 Crore IPO Draft With Sebi, To Repay Debt & Fund Growth

New Delhi: Power solutions provider Powerica Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,400 crore through an Initial Public Offering (IPO).

The company's IPO is a combination of fresh issue of shares worth Rs 700 crore along with an Offer For Sale (OFS) of shares valued at Rs 700 crore by promoters, according to the Draft Red Herring Prospectus (DRHP).

Under the OFS, Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust would offload shares to the tune of Rs 490 crore and Rs 210 crore, respectively.

Of the fresh issuance, funds worth Rs 525 crore will be utilised to pare the company's debt, and a portion will be used for general corporate purposes.

As per the draft papers filed on Friday, the Mumbai-based company may consider raising Rs 140 crore in a pre-placement round. If the placement is undertaken, the fresh issue size will be reduced.

This is the company's second attempt to go public. Back in 2019, Powerica had filed draft papers with Securities and Exchange Board of India (Sebi) to float an IPO. However, the plan was shelved.

Powerica is an integrated power solutions provider specialising in diesel generator sets (DG sets), medium speed large generators (MSLG), and related services.

Further, the company expanded into the wind power sector in 2008 as an independent power producer and has since developed capabilities as an engineering, procurement, and construction contractor, as well as an operation and maintenance service provider for balance of plant.

The company operates three manufacturing facilities located in Bengaluru, Karnataka; Silvassa, Dadra and Nagar Haveli; and Khopoli, Maharashtra.

Powerica's revenue from operations increased by 20 per cent to Rs 2,653 crore in Fiscal 2025 from Rs 2,210 crore in the preceding fiscal, however, profit after tax declined to Rs 175.83 crore for fiscal 2025 as compared to Rs 226.11 crore for fiscal 2024.

ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management have been appointed by Powerica to manage its maiden public issue.

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