Company Overview
Business Description: The company was originally incorporated as 'Consolidated Power Systems Private Limited' on May 4, 1984. It acquired the business of Hindustan Industrial & Electrical Engineers, a partnership firm, effective June 1, 1984. The company became a deemed public limited company effective June 15, 1988, and changed its name to 'Powerica Limited' effective October 1989. The company operates in the power generation sector.
Registered and Corporate Office: 9th Floor, Bakhtawar, Nariman Point, Mumbai - 400 021, Maharashtra, India; Telephone: 022 - 43152525; Website: www.powericaltd.com
Corporate Identification Number: U31100MH1984PLC032825
Offer Details
Offer Type: Initial Public Offer (IPO) of Equity Shares
Offer Size: Up to ₹1,400.00 crores comprising:
- Fresh Issue: Up to ₹700.00 crores by the Company
- Offer for Sale: Up to ₹700.00 crores by Promoter Selling Shareholders
Price Band: Not specified in this addendum (to be determined)
Equity Share Details: Face value of ₹5 each
Offer for Sale Breakdown:
- Up to ₹490.00 crores by Naresh Oberoi Family Trust
- Up to ₹210.00 crores by Kabir and Kimaya Family Private Trust
Management & Promoters
Promoters: Bharat Oberoi, Renu Naresh Oberoi, Jai Ram Oberoi, Naresh Oberoi Family Trust, Bharat Oberoi Family Trust, and Kabir and Kimaya Family Private Trust
Key Changes: Naresh Chander Oberoi, one of the Promoters of the Company, passed away on December 10, 2025. He was the sole trustee of the Naresh Oberoi Family Trust and held:
- 3,80,00,000 Equity Shares (34.92% of pre-Offer paid-up equity share capital) as trustee of the Trust
- 3,26,400 Equity Shares (0.30% of pre-Offer paid-up equity share capital) in his individual capacity
Succession Arrangements:
- As per the trust deed dated October 20, 2022, Bharat Oberoi (son of Naresh Chander Oberoi) becomes the new trustee
- The Trust's Equity Shares have been transmitted to Bharat Oberoi's depository account to be held on behalf of the Trust
- The 3,26,400 Equity Shares held individually will be transmitted to Renu Naresh Oberoi (subject to grant of probate)
- Upon successful transmission, Renu Naresh Oberoi will hold 5,11,748 Equity Shares (0.47% of pre-Offer paid-up equity share capital)
Promoter Group Update: Individuals or entities that were part of Naresh Chander Oberoi's promoter group will no longer be disclosed as promoter group of the Company
Legal & Compliance
Document Status: This is an Addendum to the Draft Red Herring Prospectus dated August 8, 2025
Regulatory Filings: The DRHP was filed with the Securities and Exchange Board of India and the Stock Exchanges
Public Announcement: Published on August 11, 2025, in Financial Express (English), Jansatta (Hindi), and Navshakti (Marathi) newspapers
Updated Sections: The Red Herring Prospectus and Prospectus will update sections including Cover Page, Definitions and Abbreviations, Summary of the Offer Document, General Information, Capital Structure, Our Management, Basis for Offer Price, and Our Promoters and Promoter Group
Contact Information:
- Company Secretary and Compliance Officer: Anita Praful Renuse
- Grievance email: cs@powericaltd.com
Book Running Lead Managers
1. ICICI Securities Limited
- Address: ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025
- Tel: +91 22 6807 7100
- SEBI Registration Number: INM000011179
2. IIFL Capital Services Limited
- Address: 24th Floor, One Lodha Place, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
- Tel: +91 22 4646 4728
- SEBI Registration Number: INM000010940
3. Nuvama Wealth Management Limited
- Address: 801-804, Wing A, Building No 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai 400 051
- Tel: +91 22 4009 4400
- SEBI Registration Number: INM000013004
Registrar to the Offer
MUFG Intime India Private Limited
- Address: C-101, Embassy 247, L B S Marg, Vikhroli (West), Mumbai - 400 083
- Tel: +91 810 811 4949
- SEBI Registration Number: INR000004058