Powerica Sets ₹375-₹395 Price Band for ₹1,100 Crore IPO

• Powerica Ltd., a Mumbai-based power solutions provider, has fixed the price band for its ₹1,100 crore IPO between ₹375 to ₹395 per share.
• The IPO opens for subscription on March 24 and closes on March 27; the anchor book opens on March 23.
• The IPO comprises a fresh issue of shares worth ₹700 crore and an Offer For Sale (OFS) of ₹400 crore.
• 50% of the issue is reserved for QIBs, 15% for non-institutional investors, and 35% for retail investors.
• Proceeds from the fresh issue will be used for debt repayment (₹525 crore) and general corporate purposes.