March 11, 2019: Powerica Limited (Powerica), an end-to-end power solution provider of diesel generator sets, both primary and secondary, and one of three Original Equipment Manufacturers (“OEMs”) in India for Cummins India Limited (“Cummins India” and together with its Indian and global affiliates, “Cummins”), filed its DRHP with SEBI.
Powerica is also present in the wind power business, as an Independent Power Producer (“IPP”) and as Engineering, Procurement and Construction (“EPC”) developer for other IPPs. Powerica diversified into the wind power business and commissioned their first wind power project in 2008. EPC business of Powerica commenced for their own IPP projects in 2012 and for other IPPs in 2014. The wind power projects we own have a total operational capacity of 203.35 MW. They develop, build, own and operate wind power projects that generate electricity for utility companies and since 2014 have developed a balance of plant for wind power projects with aggregate generation capacity of 142.6 MW.
The IPO Initial Public Offering (IPO) of up to 7,618,427 equity shares of face value of Rs. 5 each (the “Equity Shares”) of Powerica Limited through an offer for sale of up to 5,803,229 equity shares aggregating by the Promoter Selling Shareholders (as defined hereinafter), up to 761,843 equity shares aggregating the Promoter Group Selling Shareholder (as defined hereinafter), up to 728,141 equity shares by the Investor Selling Shareholder (as defined hereinafter) and up to 325,214 equity shares by the Employee Selling Shareholders (as defined hereinafter, and together with the promoter selling shareholders, the promoter group selling shareholder and the investor selling shareholder, the “selling shareholders”). This offer includes a reservation or for purchase by eligible employees (the “Employee Reservation Portion”).
The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the sale of up to 7,618,427 Equity Shares by the Selling Shareholders.
ICICI Securities Limited, Edelweiss Financial Services Limited and IIFL Holdings Limited are the book running lead managers.
The equity shares will be listed on BSE and NSE.
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