Powerica IPO Day 1, March 24 -- Powerica's initial public offering, valued at Rs.1,100 crore, is set to open for subscriptions from March 24 to March 27. Powerica IPO price band has been established between Rs.375 and Rs.395, placing the company's valuation at nearly Rs.5,000 crore.

The power solutions provider raised Rs.329.40 crore from anchor investors on Monday, prior to the opening of its IPO.

Allocations of shares were made to various institutional investors, including SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Quant Mutual Fund, Bandhan Mutual Fund, and insurance firms like Kotak Life, Edelweiss Life, and Reliance Nippon Life, as detailed in a circular posted on the BSE's website.

Powerica is a comprehensiv...