New Delhi, Dec. 2 -- Mumbai-based Powerica has received final approval from the markets regulator Securities and Exchange Board of India (SEBI) to raise Rs.1,400 crore through an initial public offering (IPO).

The company submitted its draft papers to SEBI on August 8, 2025.

The public issue will include a fresh equity issuance of Rs.700 crore and an offer for sale of Rs.700 crore by the promoters - Naresh Oberoi Family Trust and the Kabir and Kimaya Family Private Trust.

Of the fresh issue proceeds, Rs.525 crore is earmarked for partial or full repayment/prepayment of certain existing borrowings, with the remainder to be used for general corporate purposes.

The shares of Powerica IPO are proposed to be listed on the BSE and NSE.

ICI...