Powerica IPO Opens March 24; Bharat Oberoi, Pradeep Omprakash Gupta and Ritesh Kumar Agrawal Outline Growth Vision
- Bharat Oberoi, CMD: IPO marks our shift to an integrated energy powerhouse
- Ritesh Kumar Agrawal, CFO: Funds will strengthen balance sheet and drive disciplined growth
- Pradeep Omprakash Gupta, WTD: We aim to scale operations while maintaining execution excellence
- Chirag Kalantri of Nuvama Wealth Management, Lead Banker: Strong fundamentals make this a compelling long-term bet
Powerica Sets ₹375–₹395 Price Band, IPO Opens March 24
Bilkul Bazaar | By Rafat Quadri
Ahmedabad | 20 March 2026
Powerica IPO Snapshot
- IPO Dates: March 24–27, 2026
- Price Band: ₹375–₹395 per share
- Issue Size: ₹700 crore fresh issue + ₹400 crore OFS
- Lot Size: 37 shares and multiples
- Business: Integrated power solutions provider (DG sets + wind energy + EPC/O&M)
- Leadership View: CMD Bharat Oberoi highlighted the company’s growth journey and expansion strategy; WTD Pradeep Omprakash Gupta and Group CFO Ritesh Kumar Agrawal emphasised financial strength and disciplined growth
- Investor Pitch: Presented in Ahmedabad with participation from Nuvama Wealth Management
- Key Strength: Diversified energy portfolio with strong legacy partnerships and renewable push
Powerica Limited has announced that its initial public offering will open for subscription on March 24, with a price band fixed at ₹375 to ₹395 per equity share, marking a significant milestone in the company’s growth journey . The issue will close on March 27, with investors able to bid for a minimum of 37 shares and in multiples thereafter.
The IPO comprises a fresh issue of up to ₹700 crore and an offer for sale of up to ₹400 crore by existing promoters, as the integrated power solutions provider looks to strengthen its balance sheet and expand operations. The company has built a diversified business spanning diesel generator manufacturing, wind power generation, and EPC as well as operations and maintenance services.
Senior leadership, including Bharat Oberoi, CMD of Powerica Limited, along with Pradeep Omprakash Gupta, whole-time director, Ritesh Kumar Agrawal, group CFO, and Chirag Kalantri of Nuvama Wealth Management, were in Ahmedabad on Thursday to formally announce the IPO and outline the company’s future roadmap.
Addressing the media, Oberoi traced the company’s evolution from its beginnings in 1984 in the diesel generator segment to becoming a multi-segment energy solutions provider. “We started with a focused generator business and have steadily expanded into high-capacity solutions and renewable energy. This IPO is a natural progression of our journey and will help us scale further while maintaining technological and operational excellence,” he said.
He highlighted the company’s long-standing association with Cummins and its collaboration with Hyundai in the medium-speed large generator segment as key pillars of its growth. Oberoi added that Powerica’s integrated model—spanning manufacturing, installation, and lifecycle services—positions it well to capture rising demand across industries.
Gupta said the company’s financial performance reflects both scale and discipline. “Our revenues and profitability have shown consistent growth, and we are entering the public markets with a strong balance sheet and clear capital allocation strategy. The proceeds will support expansion, working capital requirements, and long-term sustainability initiatives,” he noted.
Agrawal emphasised the company’s diversification into renewable energy, particularly wind power. “We currently operate wind projects with significant installed capacity in Gujarat and are expanding further. This provides a stable revenue stream and aligns with India’s energy transition goals,” he said.
Kalantri added that investor interest in energy transition and infrastructure-linked businesses remains strong. “Powerica offers a unique blend of traditional and renewable energy exposure, backed by decades of execution experience. We believe the company is well positioned to attract a broad base of institutional and retail investors,” he said.
Powerica operates three manufacturing facilities and a wide sales and service network, supported by authorised dealers across the country. Its generator portfolio ranges from small-scale applications to large industrial solutions, while its wind power arm continues to expand capacity.
The IPO is being managed by ICICI Securities, IIFL Capital Services and Nuvama Wealth Management as book-running lead managers.
Disclaimer: This report is for educational purposes only and not investment advice. Please consult a financial advisor before investing in any IPO.
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