Powerica IPO GMP Update

Powerica Limited’s initial public offering (IPO), which opened on March 24, 2026, has experienced a sluggish start, with only 1% of the issue subscribed as of the first day. The IPO, valued at ₹1,100 crores, is set to remain open for subscription until March 27, 2026.

The price band for the IPO is fixed between ₹375 and ₹395 per share, with a minimum lot size requirement of 37 shares for applicants. As of the first day, the subscription rate was notably low, with Retail Individual Investors subscribing at 0.01 times and Non-Institutional Investors and Qualified Institutional Buyers not participating at all.

In the grey market, Powerica’s shares are trading at a premium of ₹5, indicating some interest despite the low subscription rates. The company plans to utilize ₹525 crores from the fresh issue to repay and prepay debt, which may be a critical factor for potential investors.

The allotment process for the IPO is expected to be finalized on March 30, 2026, with shares scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on April 2, 2026.

Powerica Limited has been a significant player in the power solutions sector since 1983, serving as an authorized dealer for Cummins India. The company’s focus on manufacturing and supplying diesel and gas generator sets positions it well within the industry.

Despite the current subscription figures, market analysts will be closely monitoring the upcoming days to see if interest in the IPO increases as the deadline approaches. Details remain unconfirmed regarding any potential strategies the company may employ to boost subscription rates.