Powerica IPO lists with disappointing debut as shares fall 7 percent below issue price.

Powerica IPO lists with disappointing debut as shares fall 7 percent below issue price. The Rs 1,100 crore offering opened at Rs 366 on NSE and Rs 375 on BSE against its Rs 395 issue price, reflecting weak market sentiment. Overall subscription stood at just 1.53 times, with retail investors showing particularly weak interest at only 0.16 times subscription. Non-institutional investors also remained cautious with 0.47 times subscription. Only qualified institutional buyers demonstrated strong appetite, subscribing 5 times the offered shares. The power solutions company, which operates diesel generator sets and wind energy projects, reported FY25 revenue of Rs 2,700 crore with profit after tax of Rs 175.83 crore. However, financial inconsistencies over time appear to have dampened investor confidence. The weak grey market premium of just 2 percent suggests limited listing gains ahead.