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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Prepayment or repayment of borrowings
Using part of the net proceeds to prepay or repay a portion of the company's outstanding borrowings.
General corporate purposes
Funding general corporate requirements of the company.
(₹ in Crore)
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Powerica Limited is an end to end power solutions company built around diesel generator (DG) sets used for both primary and standby power. Its product line spans a broad capacity range, from small 7.5 kVA units to large 10,000 kVA machines, allowing it to serve very different power requirements across industries. The company has been active in the generator business for about four decades, having started operations in the mid 1980s, and it also fits retrofit emission control equipment onto engines. The company runs three manufacturing facilities, located at Bengaluru in Karnataka, Silvassa in Dadra and Nagar Haveli, and Khopoli in Maharashtra. Alongside the generator business it operates as an independent power producer through eleven wind power projects in Gujarat with a combined installed capacity of about 279.55 MW, giving it a foothold in the renewable energy segment in addition to conventional backup power. Powerica supplies a wide and varied customer base that includes commercial, infrastructure, manufacturing and agricultural users as well as information technology firms, data centres, government bodies and defence buyers. It works closely with global equipment makers such as Cummins and Hyundai for engines and alternators and with wind technology partners, and the DG set business contributes the large majority of its revenue while the wind portfolio adds a longer term, recurring income stream.
Powerica raised about Rs 329 crore ahead of the issue by allotting 83,39,239 equity shares to 17 anchor investors at Rs 395 per share. SBI Funds Management was the largest participant with roughly 25.56 lakh shares (about Rs 101 crore), while HDFC AMC, ICICI Prudential Mutual Fund and Kotak Mahindra AMC each took about 10.12 lakh shares (about Rs 40 crore each).
Source: RHP • Analysis provided for informational purposes
Last Updated: 8 July 2026, 5:30 AM
Long track record in generator sets
Around four decades of experience in the DG set business, with a broad product range from 7.5 kVA to 10,000 kVA covering low, medium and high horsepower needs.
Diversified customer base
Serves a wide spread of end users across commercial, infrastructure, manufacturing, agriculture, IT and data centres, government and defence, reducing dependence on any single segment.
Presence in both conventional and renewable power
Combines the DG set business with an eleven-project wind portfolio of about 279.55 MW in Gujarat, adding a longer-term recurring revenue stream.
Established supplier and technology partnerships
Works with global engine and equipment makers such as Cummins and Hyundai and with wind technology partners, supporting product quality and reach.
Concentration in the generator business
The large majority of revenue comes from diesel generator sets, so a slowdown in that segment would weigh heavily on overall performance.
Dependence on key suppliers
Reliance on a few critical suppliers such as Cummins for engines and alternators and Hyundai for certain sets creates supply and pricing risk.
Wind business external dependencies
The wind power operations depend on OEM relationships, power purchase agreements, land leases and turbine performance, all of which carry operational risk.
MUFG Intime India Private Limited
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Legal proceedings involving promoters
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