Powerica IPO Day 3: Check subscription status, allotment date and steps

Powerica IPO: The initial public offering of power solutions provider Powerica Limited has been subscribed 4% so far on Friday, March 27, the last day of bidding.

It got bids for 8,89,591 shares as against 2,05,55,171 shares on offer, according to the details available with the NSE until 11:15 am. Retail investors' part was subscribed 6%, and the quota for non-institutional investors (NIIs) received 3% subscription. Qualified institutional buyers (QIBs) booked their part 2%.

The ₹1,100 crore initial share sale, with a price band of ₹375 to ₹395 apiece, is a combination of a fresh issue of shares aggregating to ₹700 crore and an offer for sale (OFS) of ₹400 crore by promoters Naresh Oberoi Family Trust and Kabir and Kimaya Family Private, according to the red herring prospectus (RHP).

Of the fresh issuance, funds to the tune of ₹525 crore will be used to pare the company's debt, and a part will be utilised for general corporate purposes.

Powerica Ltd is an integrated power solutions provider specialising in diesel generator sets, medium-speed large generators, and related services. The company runs three manufacturing facilities located in Silvassa, Bengaluru, and Khopoli.

Powerica IPO: Allotment and listing date

The basis of allotment of the Powerica IPO is likely to be finalised on March 30. The listing on the NSE and the BSE will take place on April 2.

How to check Powerica IPO allotment status on NSE

• Go to this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Pick ‘Equity & SME IPO bid details’
• Select 'POWERICA' from the 'Select Symbol' list
• Add your PAN and application number
• Click on the submit button

Steps to check Powerica IPO allotment status on MUFG Intime India

• Visit MUFG Intime India's official website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Select ‘Powerica Limited’ from the IPO names
• Enter any one: Application No, Account No / IFSC, DP/Client ID or PAN
• Press the ‘Submit’ button

Powerica IPO GMP

According to investorgain.com and media reports, Powerica's unlisted shares are trading at ₹396, reflecting a grey market premium of 0.25% or ₹1 compared to the upper price band of ₹395.