Powerica IPO Day 1: Check GMP, Subscription Status & Key Highlights The Initial Public Offering (IPO) for Powerica Limited commenced on March 24, 2026, with subscription open until March 26, 2026. Powerica Limited, a company engaged in manufacturing and supplying diesel and gas generator sets, as well as providing power solutions and energy equipment to industrial and commercial customers, is operating in the power backup and energy infrastructure sector. The IPO is expected to finalize its allotment process on March 30, 2026, with shares set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on April 2, 2026. The IPO is a book-building issue totaling ₹1,100 crores, split into a fresh issue of ₹700 crores and an offer for sale (OFS) of ₹400 crores. The price band for the shares is set at ₹375 to ₹395 per share, with a minimum application lot size of 37 shares. The book-running lead managers for the issue are ICICI Securities Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited, while MUFG Intime India Private Limited serves as the registrar. On the first day of subscription, the Grey Market Premium (GMP) for Powerica Limited was reported at ₹5. The subscription status as of March 24, 2026, at 11:57 AM, indicated the level of investor interest in the offering. The company plans to use the net proceeds from the fresh issue to prepay or repay outstanding borrowings and for general corporate purposes. Powerica Limited, incorporated in 1983 and headquartered in Mumbai, is a key authorized dealer of Cummins India. It offers a wide range of power backup and distributed energy solutions for industrial, commercial, and residential applications.#icici_securities #powerica_limited #iifl_capital #nuvama_wealth #cummins_india
