Powerica Share Price Listing: Powerica share price surged nearly 7 per cent to close the listing session (Thursday, April 2) or debut trade at Rs 390 on the NSE. On the BSE, Powerica Share Price closed 4 per cent higher at Rs 390 as against the issue price of Rs 375.

Powerica Limited is a power solutions provider. The company commanded a market capitalisation of Rs 4,935.52 crore.

At 10 AM on April 2, Powerica shares made a tepid market debut. The stock was listed at Rs 366, slipping 7.34 per cent from the issue price on the NSE. On the BSE, it debuted at Rs 375.

At the time of listing, the company's market valuation stood at Rs 4,684.95 crore on the NSE.

Powerica Share Price: IPO Subscription Details

The Rs 1,100-crore initial public offering (IPO) of Powerica Ltd sailed through on the last day of bidding on Friday, getting subscribed 1.45 times, amid buying support from institutional buyers.

Powerica Share Price: IPO Price Band

The company had fixed the price band at Rs 375-395 apiece.

The IPO was a combination of a fresh issue of shares worth Rs 700 crore, along with an offer for sale (OFS) of shares valued at Rs 400 crore by promoters, according to the red herring prospectus.

Of the fresh issuance, funds worth Rs 525 crore will be utilised to pare the company's debt, and a portion will be used for general corporate purposes.

This was Powerica's second attempt to go public. Back in 2019, Powerica had filed draft papers with the Securities and Exchange Board of India (Sebi) to float an IPO. However, the plan was shelved.

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Powerica is an integrated power solutions provider specialising in diesel generator sets (DG sets), medium speed large generators (MSLG), and related services. It operates three manufacturing facilities in Bengaluru; Silvassa in Dadra and Nagar Haveli; and Khopoli, Maharashtra.