Powerica IPO gets oversubscribed on day 1

The initial public offer of power solutions provider Powerica Ltd got subscribed 1 per cent on the first day of share-sale on Tuesday. The IPO received bids for 2,07,681 shares against 2,05,55,171 shares on offer, as per NSE data.

The portion meant for Retail Individual Investors (RIIs) got subscribed 2 per cent and non-institutional investors received 1 per cent subscription. Powerica Ltd garnered Rs 329.40 crore from anchor investors on Monday. Powerica’s Rs 1,100-crore public offering will conclude on March 27.

The price band has been fixed at Rs 375 to Rs 395 apiece, valuing the company at nearly Rs 5,000 crore. The company’s IPO is a combination of a fresh issue of shares worth Rs 700 crore, along with an Offer For Sale (OFS) of shares valued at Rs 400 crore by promoters, according to the red herring prospectus (RHP).

The OFS size has been cut from Rs 700 crore earlier, reducing the total IPO size to Rs 1,000 crore from Rs 1,400 crore proposed in the draft papers filed in August 2025. Under the OFS, Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust would offload shares.