Powerica IPO Day 3 update: Subscription has reached 3%, with recent changes in the GMP.
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The Powerica IPO has received 3% subscriptions so far, with a price range of ₹375 to ₹395 per share. The company has raised ₹329.40 crore from anchor investors and has set aside shares for qualified institutional buyers (QIBs), non-institutional investors (NIIs), and retail investors. The shares are expected to be listed on April 2.
The Powerica IPO, valued at ₹1,100 crore, has received a slow response, with only 3% of shares subscribed by Day 2 (March 25). The shares are priced between ₹375 and ₹395 each, which puts the company's total value at about ₹5,000 crore. Before the IPO opened, the company raised ₹329.40 crore from anchor investors, including major mutual funds and insurance companies. The IPO includes a new issue of ₹700 crore and an offer-for-sale of ₹300 crore, with ₹525 crore from the new issue aimed at reducing debt.
The share allocation includes 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs). Employee subscriptions have been strong at 81%. Retail subscriptions are at 4%, NIIs at 1%, while QIBs have not yet participated. The latest grey market premium (GMP) has dropped to Re 1, suggesting an estimated listing price of around ₹396, which is only 0.25% above the highest price, showing low expectations for the listing.
Analysts have mixed opinions—some suggest investing for the long term because of the company's diverse power solutions and solid partnerships, while others caution due to falling profits, heavy reliance on key partners like Cummins, and limited short-term benefits. Share allotments are expected on March 30, with the listing likely on April 2, 2026.
The share allocation includes 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs). Employee subscriptions have been strong at 81%. Retail subscriptions are at 4%, NIIs at 1%, while QIBs have not yet participated. The latest grey market premium (GMP) has dropped to Re 1, suggesting an estimated listing price of around ₹396, which is only 0.25% above the highest price, showing low expectations for the listing.
Analysts have mixed opinions—some suggest investing for the long term because of the company's diverse power solutions and solid partnerships, while others caution due to falling profits, heavy reliance on key partners like Cummins, and limited short-term benefits. Share allotments are expected on March 30, with the listing likely on April 2, 2026.
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