Mumbai, March 18, 2026: Powerica Limited an integrated power solutions provider, has announced its upcoming initial public offering (IPO), which will open for subscription on Tuesday, March 24, 2026, and close on Friday, March 27, 2026.

Investors can bid for a minimum of 37 equity shares and in multiples thereafter.

Issue Structure

The offering comprises:

• Fresh issue: Up to ₹700 crore

• Offer-for-sale: Up to ₹400 crore by promoters – Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust

The IPO is being conducted through the book-building process, with:

• Up to 50% allocated to Qualified Institutional Buyers (QIBs)

• At least 15% to Non-Institutional Investors (NIIs)

• At least 35% to Retail Individual Investors (RIIs)

Business Overview

Powerica Limited is a leading provider of integrated power solutions, specializing in diesel generator (DG) sets for both primary and standby applications. The company has maintained a long-standing relationship of over four decades with Cummins India Limited.

Established in 1984, the company expanded its portfolio in 1996 to include medium-speed large generators (MSLG) through collaboration with HD Hyundai Heavy Industries. Today, the company offers a comprehensive range of generator sets from 7.5 kVA to 10,000 kVA, catering to diverse industrial requirements.

Renewable Energy Expansion

Building on its experience in the generator segment, the company entered the wind power sector in 2008 as an independent power producer (IPP). It has since developed capabilities in engineering, procurement and construction (EPC), as well as operation and maintenance (O&M) services.

As of the Red Herring Prospectus (RHP):

• Operates 12 wind power projects in Gujarat with a total installed capacity of 330.85 MW

• Developing an additional 52.70 MW project, which will increase total capacity to 383.55 MW

Manufacturing & Network

The company operates three manufacturing facilities located in:

• Bengaluru, Karnataka

• Silvassa, Dadra and Nagar Haveli

• Khopoli, Maharashtra

Its extensive sales and service network includes:

• 19 sales and marketing offices

• 43 authorized dealers (in collaboration with Cummins)

• 123 sales and marketing personnel

Financial Performance

For the six months ended September 30, 2025:

• Revenue: ₹1,447.44 crore

• Net Profit: ₹134.55 crore

For FY25:

• Revenue: ₹2,653.27 crore (compared to ₹2,378.26 crore in FY23)

• Net Profit: ₹175.83 crore (compared to ₹106.45 crore in FY23)

Lead Managers

The book-running lead managers to the issue are:

• ICICI Securities Limited

• IIFL Capital Services Limited

• Nuvama Wealth Management Limited