Smarten Power Systems IPO Opens July 7: Price ₹100, NSE SME Listing on July 14

NOOR MOHMMED

    09/Jul/2025

  • Smarten Power Systems IPO opens on July 7, 2025, with ₹50 cr issue; price set at ₹100/share; closes July 9 with NSE SME listing on July 14.

  • IPO comprises ₹40 cr fresh issue and ₹10 cr OFS; minimum retail bid is ₹2.4 lakh for 2 lots (2,400 shares).

  • GMP today ₹0 indicates flat listing; IPO subscribed 1.56x as of July 9 noon; investors advised to check allotment on July 10.

Smarten Power Systems Limited is launching its ₹50.00 crore SME IPO on the NSE platform with a fixed price of ₹100 per share. The issue opens for subscription from July 7, 2025, and closes on July 9, 2025.

This comprehensive guide covers the company's background, IPO details, price band, lot size, subscription trends, financials, valuation, objectives, GMP updates, and final investor recommendation.


Company Overview

Smarten Power Systems is engaged in designing and assembling a variety of power backup and advanced solar power products, including:

  • Home UPS systems

  • Solar inverters

  • Solar power conditioning units (PCUs)

  • Solar charge controllers

The company also trades solar panels and batteries. Domestically, products are sold through distributors, while international exports (except solar panels) extend Smarten’s reach beyond India.

Promoted by Arun Bhardwaj, Rajnish Sharma, Ravi Dutt, and Tirath Singh Khaira, each with over 20 years’ experience in the power-backup industry, the company positions itself as a cost-efficient solutions provider in the solar and battery segment.


IPO Structure & Details

  • IPO Type: Fixed Price Issue

  • Total Issue Size: ₹50.00 Crores

  • Fresh Issue: 40.00 lakh shares (₹40.00 Crores)

  • Offer for Sale (OFS): 9.99 lakh shares (₹10.00 Crores)

  • Face Value: ₹10 per share

  • Issue Price: ₹100 per share

  • Lot Size: 1,200 shares

  • Retail Minimum Investment: ₹2,40,000 (2 lots = 2,400 shares)

  • Post-issue Market Capitalisation: ₹190.00 Crores


Important IPO Dates

Event Date
IPO Opens July 7, 2025
IPO Closes July 9, 2025
Allotment Finalisation July 10, 2025
Tentative Listing Date July 14, 2025
Exchange NSE SME Platform
Registrar Maashitla Securities Private Limited


Grey Market Premium (GMP) Update

✅ As of July 9, 2025, the GMP for Smarten Power Systems IPO is ₹0.

Date IPO Price Expected Listing Price GMP (%) Last Updated
02 July 2025 ₹100 ₹100 ₹0 (0.00%) 06:00 PM; 02 July 2025

Note: GMP is an unregulated, informal indicator, useful for gauging sentiment but not reliable for pricing discovery.


IPO Subscription Status (Live Update)

✅ As of 11:30 AM on July 9, 2025 (Final Day):

  • Total Subscription: 1.56 times

Investors can track real-time updates on the NSE SME platform for detailed reservation categories.


Objectives of the IPO

Smarten Power Systems plans to use net proceeds as follows:
1️⃣ ₹418.90 lakh – Purchase of movable assets for a new battery production line.
2️⃣ ₹2,200.00 lakh – Working capital requirements.
3️⃣ ₹95.00 lakh – Repayment/Prepayment of borrowings.
4️⃣ ₹446.15 lakh – Capital expenditure.
5️⃣ ₹469.91 lakh – General corporate purposes.

These objectives highlight expansion and strengthening of production capabilities, reflecting the company’s commitment to growth.


Lead Manager & Market Maker

  • Lead Manager: Arihant Capital Markets Limited

  • Registrar: Maashitla Securities Private Limited

  • Market Maker: Arihant Capital Markets Limited

Their involvement lends process credibility, especially important in SME IPOs.


Financial Performance

The company’s financials demonstrate steady growth:

Fiscal Year Revenue (₹ Lakh) EBITDA (₹ Lakh) Profit After Tax (₹ Lakh)
FY23 18,606.28 798.89 515.66
FY24 19,873.20 1,708.08 1,129.00
FY25 20,319.67 1,836.79 1,277.04

✔️ Consistent revenue growth
✔️ Doubling of EBITDA over two years
✔️ More than double profit over FY23–FY25


Valuation Metrics

Metric FY24 (Post-Issue)
Post-Issue EPS ₹6.72
Post-Issue P/E Ratio 14.88x
Industry P/E Benchmark ~42x
ROCE 32.58%
ROE 39.72%
RoNW 33.14%

Takeaway: IPO is fairly priced relative to industry P/E. However, with a GMP of ₹0, there is little grey-market enthusiasm for listing gains.


Strengths

⭐ Experienced promoter group (20+ years in power-backup industry)
⭐ Diversified portfolio in solar and battery tech
⭐ Growing exports (excluding solar panels)
⭐ Consistent financial growth, rising profits and margins


Risks

⚠️ High working capital requirement—a large chunk of proceeds goes there
⚠️ SME platform listing—liquidity risks post-listing
⚠️ Low GMP indicates flat demand in grey market
⚠️ High minimum retail investment (₹2.4 lakh) limits small investor participation


Allotment & Listing

Allotment Date: July 10, 2025
Registrar: Maashitla Securities
✅ Check status using:

  • Registrar’s official allotment page

  • NSE SME portal

Tentative Listing Date: July 14, 2025 on NSE SME


How to Check IPO Allotment Status

1️⃣ Visit the registrar’s website.
2️⃣ Select “Smarten Power Systems Limited IPO” from the dropdown.
3️⃣ Enter Application Number, PAN, or DP Client ID.
4️⃣ Submit to view status.


Analyst View: Should You Subscribe?

While the valuation appears fair relative to sector P/E, the GMP is flat (₹0) indicating no meaningful listing premium.

Our recommendation:

Related News
onlyfans leakedonlyfan leaksonlyfans leaked videos