Latest news with #PowericaLtd
Time of India
6 days ago
- Business
- Time of India
Power solutions provider Powerica files draft papers with Sebi for ₹1,400 cr IPO
New Delhi: Power solutions provider Powerica Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise ₹1,400 crore through an Initial Public Offering (IPO). The company's IPO is a combination of fresh issue of shares worth ₹700 crore along with an Offer For Sale (OFS) of shares valued at ₹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 ₹490 crore and ₹210 crore, respectively. Of the fresh issuance, funds worth ₹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 ₹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 ₹2,653 crore in Fiscal 2025 from ₹2,210 crore in the preceding fiscal, however, profit after tax declined to ₹175.83 crore for fiscal 2025 as compared to ₹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.
Mint
11-08-2025
- Business
- Mint
Upcoming IPO: Mumbai-based Powerica files draft papers with Sebi to raise ₹1,400 crore via public issue. Details here
Upcoming IPO: Mumbai-based power solutions provider, Powerica Ltd, filed its preliminary draft papers with the capital markets regulator, the Securities and Exchange Board of India (Sebi), on Monday, 11 August 2025. The company aims to raise ₹ 1,400 crore from the Indian stock market through the public issue. Powerica is offering a book-built public issue comprising a fresh issue of equity shares up to ₹ 700 crore with a face value of ₹ 5 apiece, along with an offer for sale (OFS) component of shares up to ₹ 490 crore by Naresh Oberoi Family Trust, and ₹ 210 crore by Kabir and Kimaya Family Private Trust, the promoter selling stakeholder of the public issue. According to the company disclosure, the ₹ 525 crore of the proceeds from the public issue will be used to pay off certain loans taken by the firm, while the rest of the funds will be utilised for general corporate purposes. The company also may consider a pre-IPO placement of ₹ 140 crore, if this goes through then the fresh issue component size will be reduced accordingly. The company's draft papers showed that Powerica will allot not more than 50% of the offer to the qualified institutional buyers (QIBs), not more than 15% to the non-institutional investors (NIIs), and 35% will be allocated to the retail investors. Powerica Ltd. is a power solutions provider incorporated in 1994. The company is involved in the generator set business, providing end-to-end power solutions in standby and prime power applications. The company has clients in various sectors including commercial (hospitality, healthcare, banking and financial services industry – banks, education, residential and other real estate), infrastructure (retail infrastructure, logistics, railways and metros), manufacturing (industrial, process industries, dairy), agriculture (including cold storage and aquaculture), information technology/data centres, government and defense, and rentals, according to the official data. The company owns and operates three manufacturing facilities located in Bengaluru, Karnataka; Silvassa, Dadra and Nagar Haveli; and Khopoli, Maharashtra. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
11-08-2025
- Business
- Mint
Upcoming IPO: Mumbai-based Powerica files draft papers with Sebi to raise ₹1,400 crore via public issue. Details here
Upcoming IPO: Mumbai-based power solutions provider, Powerica Ltd, filed its preliminary draft papers with the capital markets regulator, the Securities and Exchange Board of India (Sebi), on Monday, 11 August 2025. The company aims to raise ₹ 1,400 crore from the Indian stock market through the public issue. Powerica is offering a book-built public issue comprising a fresh issue of equity shares up to ₹ 700 crore with a face value of ₹ 5 apiece, along with an offer for sale (OFS) component of shares up to ₹ 490 crore by Naresh Oberoi Family Trust, and ₹ 210 crore by Kabir and Kimaya Family Private Trust, the promoter selling stakeholder of the public issue. According to the company disclosure, the ₹ 525 crore of the proceeds from the public issue will be used to pay off certain loans taken by the firm, while the rest of the funds will be utilised for general corporate purposes. The company also may consider a pre-IPO placement of ₹ 140 crore, if this goes through then the fresh issue component size will be reduced accordingly. The company's draft papers showed that Powerica will allot not more than 50% of the offer to the qualified institutional buyers (QIBs), not more than 15% to the non-institutional investors (NIIs), and 35% will be allocated to the retail investors. Powerica Ltd. is a power solutions provider incorporated in 1994. The company is involved in the generator set business, providing end-to-end power solutions in standby and prime power applications. The company has clients in various sectors including commercial (hospitality, healthcare, banking and financial services industry – banks, education, residential and other real estate), infrastructure (retail infrastructure, logistics, railways and metros), manufacturing (industrial, process industries, dairy), agriculture (including cold storage and aquaculture), information technology/data centres, government and defense, and rentals, according to the official data. The company owns and operates three manufacturing facilities located in Bengaluru, Karnataka; Silvassa, Dadra and Nagar Haveli; and Khopoli, Maharashtra.
