Smarten Power Systems IPO
Smarten Power Systems IPO
Overview
Smarten Power Systems IPO is a fixed price of ₹50.00 crores. The issue is a combination of fresh issue of 40.01 lakh shares aggregating to ₹40.01 crores and offer for sale of 10.00 lakh shares aggregating to ₹10.00 crores. Smarten Power Systems IPO opens for subscription on July 7, 2025 and closes on July 9, 2025. The allotment for the Smarten Power Systems IPO is expected to be finalized on Thursday, July 10, 2025. Smarten Power Systems IPO will be list on NSE SME with a tentative listing date fixed as Monday, July 14, 2025. Smarten Power Systems IPO price is ₹100 per share. The lot size for an application is 1200. The minimum amount of investment required by an individual investor (retail) is ₹ (1200 shares). The minimum lot size investment for HNI is 3 lots (3,600 shares) amounting to ₹3,60,000. Arihant Capital Markets Ltd is the book-running lead manager of the Smarten Power Systems IPO, while Maashitla Securities Private Limited is the registrar for the issue.The market maker for Smarten Power Systems IPO is Arihant Capital Markets Limited. Refer to Smarten Power Systems IPO DRHP for detailed information.
Issue Size
₹50,00,400
Issue Price
₹50.00 Cr
Price Band
₹100 – ₹100
Lot Size
1200 shares
Min. Investment
₹1,20,000
Max. Investment
₹1,20,000
Open Date
07 Jul, 2025
Close Date
09 Jul, 2025
Allotment
10 Jul, 2025
Listing
14 Jul, 2025
Max. Investment
₹1,20,000
Announced
07 Jul, 2025
Opening Date
07 Jul, 2025
Closing Date
09 Jul, 2025
Basis of Allotment
10 Jul, 2025
Initiation of Refunds
11 Jul, 2025
Credit of Shares
11 Jul, 2025
Listing Date
14 Jul, 2025
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About Smarten Power Systems IPO
Incorporated in 2014, Smarten Power Systems Limited designs and assembles power backup and solar products, including Home UPS systems, solar inverters, power conditioning units, and charge controllers, and trades solar panels and batteries.
The Company operates in 23 states and two union territories in India and has a global presence in 17 countries, including the Middle East, Africa, and South Asia.
The company assembles and trades products under the SMARTEN
Smarten Power Systems IPO Company Information
Smarten Power Systems, incorporated in 2014, has launched a ₹50 crore fixed-price SME IPO at ₹100 per share, opening July 7 and closing July 9, 2025, on the NSE Emerge. The issue combines a ₹40 crore fresh equity raise with a ₹10 crore offer-for-sale, aimed at funding battery production assets, bolstering working capital, reducing debt, and supporting capex and general purposes. In FY25, the company reported ₹201.7–203.2 crore in revenue and a net profit of around ₹12.8 crore . The IPO is managed by Arihant Capital Markets with Maashitla Securities as registrar, and listing is expected on July 14, 2025.
Smarten Power Systems IPO:
Fixed‑price SME IPO of ₹50 crore at ₹100 per share, opening July 7 and closing July 9, 2025, to list on NSE Emerge.
Composition: ₹40.01 crore via fresh issuance (~40.01 lakh shares) + ₹10 crore via offer-for-sale (~10 lakh shares).
Lot size: 1,200 shares per lot; retail investors must apply for a minimum of 2 lots (₹2.4 lakh).
Use of proceeds: Funding battery-line assets, working capital (~55% of fresh issue), debt reduction, capex and general corporate expenses.
FY25 performance: ₹203.2 crore revenue; ₹12.77 crore net profit; EPS ~8.51; P/E ratio ~11.75; ROE ~33%.
Operations: Designs and assembles UPS, solar inverters, PCUs, panels, batteries; presence in 23 states, 2 UTs, and 17–18 countries; domestic ~76% and exports ~24% of revenue .
Capacity: Currently 600 units/day with upcoming expansion to 1,200 units/day.
Management & support: Led by Arihant Capital Markets (book-runner & market maker) and Maashitla Securities (registrar).
IPO timeline: Allotment by July 10; refunds and share credit by July 11; expected listing on July 14.
Key risk: Heavy regional concentration (~72% revenue from Haryana & UP), limited product diversification, reliance on top customers, foreign export exposure, and currently negative operating cash flow.
Smarten Power Systems IPO Share Price
Issue Breakdown
Shareholding
Dilution: 26.7% increase in shares
Smarten Power Systems IPO Promoter Holding
Smarten Power Systems IPO Financial Health
Smarten Power Systems Limited's revenue increased by 2% and profit after tax (PAT) rose by 13% between the financial year ending with March 31, 2025 and March 31, 2024.
Smarten Power Systems IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares there of. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2400 | ₹2,40,000 |
| Individual investors (Retail) (Max) | 2 | 2400 | ₹2,40,000 |
| S-HNI (Min) | 3 | 3600 | ₹3,60,000 |
| S-HNI (Max) | 8 | 9600 | ₹9,60,000 |
| B-HNI (Min) | 9 | 10800 | ₹10,80,000 |
(All values in CR)
Smarten Power Systems IPO
The market capitalization of Smarten Power Systems IPO is ₹190.01 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 39.72 |
| ROCE | 32.58 |
| Debt/Equity | 0.43 |
| RoNW | 33.14 |
| PAT Margin | 6.28 |
| EBITDA Margin | 8.39 |
| Price to Book Value | 5.82 |
(All values in CR)
Smarten Power Systems IPO Strength & Risk
Smarten Power Systems IPO Strength:
Diverse Product Portfolio: Offers a wide range of products like home UPS systems, solar inverters, PCUs, and charge controllers.
Strong Financial Growth: Revenue grew from ₹180 crore (FY24) to ₹201.7 crore (FY25); net profit rose to ₹12.8 crore.
Healthy Margins & Return Ratios: EBITDA margin around 8.4%; Return on Net Worth (RoNW) approx. 33%.
Robust Distribution Network: Presence in 23 Indian states and UTs; exports to 17 countries across Asia and Africa.
In-House R&D and Innovation: Regular product development and technological improvements support competitiveness.
Export Contribution: Exports form 23.6% of total revenue, reducing over-dependence on domestic demand.
Capacity Expansion Plans: Scaling production from 600 to 1,200 units/day to meet growing demand.
Smarten Power Systems IPO Risk:
Geographical Concentration: ~72% revenue comes from Haryana and Uttar Pradesh, increasing regional dependency risk.
Customer Concentration: Top 10 clients contribute over 37% of revenue—loss of key clients may significantly impact performance.
Limited Product Mix Dependency: ~84% of revenue is derived from UPS systems, inverters, and batteries.
Supplier Dependency: Heavily reliant on third-party vendors for key components like inverters and batteries.
Forex & Export Exposure: Nigeria contributes nearly 37% of total export revenue—exposed to currency and geopolitical risks.
Negative Operating Cash Flow: FY25 cash flows in the red, indicating working capital stress despite profitability.
Leased Manufacturing Facilities: Operates from leased premises—renewal risk exists.
Pending Legal Dispute: Ongoing litigation involving one of the company’s units may pose operational and financial risks.
Smarten Power Systems IPO Subscription Status
Smarten Power Systems IPO subscribed 0.11 times. The public issue subscribed 0.22 times in the individual investors category, [.] times in QIB, and 0.00 times in the NII category by July 7, 2025 5:40:01 PM (Day 1).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 0 | 0 | 0 |
| Non-Institutional Buyers | 0.00 | 23,74,800 | 0 | 0 |
| Individual Investors (IND category bidding for 2 Lots) | 0.22 | 23,74,800 | 5,16,000 | 5.16 |
| Total | 0.11 | 47,49,601 | 5,16,000 | 5.16 |
Smarten Power Systems SME IPO GMP
Smarten Power Systems SME IPO last GMP is ₹0, last updated Jul 7th 2025 01:36 PM. With the price band of 100.00, Smarten Power Systems SME IPO's estimated listing price is ₹100 (cap price + today's GMP).The expected percentage gain/loss per share is 0.00%.
Last updated 07 Jul, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 07 Jul, 2025 | 100 | ₹0 | - | ₹100 (0.00%) | - | 07 Jul, 2025 |
| 06 Jul, 2025 | 100 | ₹0 | - | ₹100 (0.00%) | - | 06 Jul, 2025 |
| 05 Jul, 2025 | 100 | ₹0 | - | ₹100 (0.00%) | - | 05 Jul, 2025 |
| 04 Jul, 2025 | 100 | ₹0 | - | ₹100 (0.00%) | - | 04 Jul, 2025 |
| 03 Jul, 2025 | 100 | ₹0 | - | ₹100 (0.00%) | - | 03 Jul, 2025 |
| 02 Jul, 2025 | 100 | ₹0 | - | ₹100 (%) | - | 02 Jul, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Smarten Power Systems IPO
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Go to IPO Section
Find Smarten Power Systems IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Provide your UPI ID linked to your bank account and submit the application.
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.