Powerica share price: Stock lists at 7% discount on NSE; here's how much investors lost per lot

The stock started trading at ₹366 apiece on the National Stock Exchange (NSE), reflecting discount of 7.34% against the IPO issue price of ₹395 per unit.

On the BSE, the scrip listed at ₹375, down 5.06% from the issue price.

Powerica share price: Here's how much investors lost per lot

A lot consisted of 37 shares. Investors who received the Powerica IPO allotment saw their investment value drop to ₹13,542 per lot.

The ₹1,100 crore book-build issue consisted of a fresh issuance of shares worth ₹700 crore and an offer for sale (OFS) component of ₹400 crore by promoters Kabir and Kimaya Family Private Trust and Naresh Oberoi Family Trust.

The net proceeds from the fresh issue to the tune of ₹525 crore will be used to pare the company's debt. A part will also be utilised for general corporate purposes.

The initial public offering was subscribed 1.45 times, with bids for 2,98,57,816 shares as against 2,05,55,171 shares on offer, according to the NSE data.

Powerica is a power solutions firm with a specialisation in diesel generator sets, or DG sets, for main and backup use. It offers generator sets with capacities ranging from 7.5 kVA to 10,000 kVA, designed to meet the needs of diverse industries and applications.

Power solutions company Powerica holds a specialisation in diesel generator sets for main and backup use. The firm provides generator sets with capacities ranging from 7.5 kVA to 10,000 kVA, designed to meet the requirements of diverse industries and applications.