Powerica Shares Decline on Market Debut Amid Strong Demand
Powerica slides on market debut
Business Standard
Image: Business Standard
Powerica's shares debuted at ₹375, representing a 5.06% discount from the issue price of ₹395. As of 10:22 IST, shares were trading at ₹387.15, a 1.99% decline. The IPO was oversubscribed 1.45 times, raising ₹400 crore through an offer for sale and fresh equity.
- 01Powerica's shares debuted at ₹375, down 5.06% from the issue price.
- 02Current trading price is ₹387.15, reflecting a 1.99% decline.
- 03The IPO was oversubscribed 1.45 times, indicating strong investor interest.
- 04The company raised a total of ₹400 crore from the IPO.
- 05Powerica specializes in diesel generators and wind power solutions.
Advertisement
In-Article Ad
Shares of Powerica debuted at ₹375, marking a 5.06% discount from the issue price of ₹395. As of 10:22 IST, the stock was trading at ₹387.15, reflecting a 1.99% decline. The IPO, which opened for bidding on March 24, 2026, and closed on March 27, 2026, was oversubscribed 1.45 times, raising a total of ₹400 crore through a combination of an offer for sale and a fresh issue of equity shares. The offer for sale was primarily by the promoters, including the Naresh Oberoi Family Trust and the Kabir & Kimaya Family Trust. Powerica aims to utilize ₹525 crore of the net proceeds for repaying outstanding borrowings, which stood at ₹1,214.25 crore as of February 28, 2026. The company is recognized for its integrated power solutions, specializing in diesel generator sets and wind energy projects, with a strong presence in the industrial and infrastructure sectors.
Advertisement
In-Article Ad
Powerica's market debut could influence investor sentiment in the power solutions sector, potentially affecting future IPOs and investment in related industries.
Advertisement
In-Article Ad
More about Powerica
Read the original article
Visit the source for the complete story.