PRC

Powerica Limited

Listed Mainboard Fresh Issue
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Powerica Limited is an integrated power solutions company that manufactures and supplies diesel generator sets ranging from 7.5 kVA to 10,000 kVA, and also operates wind power projects in Gujarat with a total installed capacity of 279.55 MW.

Price Band
₹375–₹395
Lot Size
37 shares
Issue Size
₹1,100.00 Cr
GMP
+₹1
Est. Listing
+0.3%
Subscription
1.45×
Open Date
24 Mar
Close Date
27 Mar
Allotment
30 Mar
Listing Date
02 Apr
NSE Symbol
POWERICA
Min Investment
₹14,615

Overview

About the Company

Powerica Limited, headquartered in Mumbai, is a comprehensive power solutions company that has been active in the diesel generator set (DG set) business in India since 1984. The company is one of only three OEMs for Cummins India Limited and offers a full spectrum of services covering manufacturing, supply, installation, testing, commissioning, and after-sales maintenance of DG sets ranging from 7.5 kVA to 10,000 kVA. It also manufactures auxiliary components such as acoustic enclosures, fuel and exhaust systems, and power and control panels. Through three manufacturing facilities located in Bengaluru (Karnataka), Silvassa (Dadra and Nagar Haveli), and Khopoli (Maharashtra), it serves customers across southern and western India. Since 2008, the company has diversified into wind power as an independent power producer, currently owning and operating 11 wind projects in Gujarat with a combined installed capacity of 279.55 MW. It also provides EPC and O&M services for balance-of-plant wind power infrastructure, and undertakes medium-speed large generator set (MSLG) projects since 1996. Additionally, the company is associated with Platino Automotive for Retrofit Emission Control Devices (RECD).

Company Details

Founded
1984
Headquarters
Mumbai, Maharashtra
Industry
Power and Energy
Promoter
Naresh Chander Oberoi, Bharat Oberoi, Renu Naresh Oberoi, Jai Ram Oberoi, Naresh Oberoi Family Trust, Bharat Oberoi Family Trust, Kabir and Kimaya Family Private Trust
Issue Type
Fresh Issue

📋 Objects of Issue (Use of Proceeds)

  • › Partial or full prepayment and repayment of certain outstanding borrowings of the company amounting to u20b9525 crore.
  • › Funding general corporate purposes estimated at approximately u20b9136.51 crore.

✅ Strengths

  • ✓ Well-established presence in the generator set market with over four decades of operational experience since 1984.
  • ✓ One of only three OEMs in India for Cummins India Limited, giving it a strong competitive position in the DG set industry.
  • ✓ Comprehensive product range from 7.5 kVA to 10,000 kVA catering to diverse industrial and commercial customers.
  • ✓ Diversified revenue base across conventional power (DG sets, MSLG) and renewable energy (wind power EPC and O&M services).
  • ✓ Broad and varied customer base spanning multiple sectors and geographies.
  • ✓ Experienced and capable management team with strong technical and execution skills.

⚠️ Risks

  • ! Significant revenue concentration in the generator set segment, creating dependence on a single business division.
  • ! Reliance on key component suppliers such as Cummins and Hyundai makes the business vulnerable to supply chain disruptions.
  • ! The wind power segment depends on OEM partnerships and is subject to the performance and reliability of third-party operators.
  • ! Exposure to risks tied to power purchase agreements and obligations under land lease arrangements for wind projects.
  • ! Ongoing legal proceedings involving company promoters and the company itself could adversely affect reputation and operations.