Aequitas Research

Hong Jie Seow

Independent Insight Provider

IPOs and Placements coverage across Asia Pacific

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/powerica-limited" target="_blank" data-smartkarma-citation="entities:45691:1" rel="noopener">Powerica (PWRL IN)</a> is looking to raise US$160m in its upcoming India IPO. The deal will be run by IIFL Capital, ICICI Securities and Nuvama.</li>
<li>Powerica is a leading Indian power solutions company whose core business lies in assembling and supplying diesel generator (DG) sets powered by engines from global OEMs such as Cummins.</li>
<li>Powerica also participates in other segments, including medium speed large generators with Hyundai. The company has further diversified into renewable energy, with a portfolio of wind projects in Gujarat.</li>
</ul>



Powerica (PWRL IN) is looking to raise US$160m in its upcoming India IPO. The deal will be run by IIFL Capital, ICICI Securities and Nuvama.
Powerica is a leading Indian power solutions company whose core business lies in assembling and supplying diesel generator (DG) sets powered by engines from global OEMs such as Cummins.
Powerica also participates in other segments, including medium speed large generators with Hyundai. The company has further diversified into renewable energy, with a portfolio of wind projects in Gujarat.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, there was a lack of fireworks from last week's listing. This week might have some better luck.</li>
<li>On the placements front, there was no dearth of deals with raisings across the region.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, there was a lack of fireworks from last week's listing. This week might have some better luck.
On the placements front, there was no dearth of deals with raisings across the region.


ECM Weekly (25 August 2025)- Hansoh, Daiichi, IFAST, Guzman, Vikram, Shuandeng, Jiaxin, Forest, Aux

India

Powerica Limited is looking to raise US$160m in its upcoming India IPO. The deal will be run by IIFL Capital, ICICI Securities and Nuvama.

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Powerica (PWRL IN)

Powerica Limited Pre-IPO Tearsheet

Powerica plans to raise US$160m in India IPO with IIFL Capital, ICICI Securities, and Nuvama, showcasing its leading position in power solutions...

Hong Jie Seow

ECM Weekly (25 August 2025)- Hansoh, Daiichi, IFAST, Guzman, Vikram, Shuandeng, Jiaxin, Forest, Aux

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Powerica Limited Pre-IPO Tearsheet

​Powerica plans to raise US$160m in India IPO with IIFL Capital, ICICI Securities, and Nuvama, showcasing its leading position in power solutions...

Hong Jie Seow

ECM Weekly (25 August 2025)- Hansoh, Daiichi, IFAST, Guzman, Vikram, Shuandeng, Jiaxin, Forest, Aux

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Powerica plans to raise US$160m in India IPO with IIFL Capital, ICICI Securities, and Nuvama, showcasing its leading position in power solutions...