Powerica IPO Day 2 update: Subscription is currently at 1%. Here are the review and GMP (Gray Market Premium) details.
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The Powerica IPO, valued at ₹1,100 crore, is available for subscription from March 24 to March 27. The price range is ₹375 to ₹395 per share. The company has raised ₹329.40 crore from anchor investors and has set aside shares for institutional and retail investors.
Powerica's IPO, valued at ₹1,100 crore, is open for subscription from March 24 to March 27. The price range is ₹375–₹395 per share, giving the company an overall value of around ₹5,000 crore. Before the IPO, Powerica raised ₹329.40 crore from anchor investors, including major mutual funds and insurance companies. The company provides a wide range of power solutions, with a focus on diesel generator sets, medium-speed large generators, and related services.
The IPO includes a new share issue of ₹700 crore and an offer-for-sale of ₹300 crore by the promoters, with ₹525 crore from the new shares going towards paying off debt. The share allocation for the IPO is set at 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs), with up to ₹2 crore reserved for employees. The latest grey market premium (GMP) is ₹4, suggesting an expected listing price of about ₹399, slightly above the upper price limit.
On the first day, the subscription rate was low, at around 1% overall. Analysts have differing opinions; some recommend it for long-term investment due to its strong business model and partnerships, while others advise caution because of falling profits, reliance on key partners, and limited short-term gains. Share allotment is anticipated on March 30, and the shares are expected to be listed on April 2, 2026.
The IPO includes a new share issue of ₹700 crore and an offer-for-sale of ₹300 crore by the promoters, with ₹525 crore from the new shares going towards paying off debt. The share allocation for the IPO is set at 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs), with up to ₹2 crore reserved for employees. The latest grey market premium (GMP) is ₹4, suggesting an expected listing price of about ₹399, slightly above the upper price limit.
On the first day, the subscription rate was low, at around 1% overall. Analysts have differing opinions; some recommend it for long-term investment due to its strong business model and partnerships, while others advise caution because of falling profits, reliance on key partners, and limited short-term gains. Share allotment is anticipated on March 30, and the shares are expected to be listed on April 2, 2026.
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