Smarten Power Systems Limited, based in India, is a manufacturer and trader of power backup and solar energy equipment, offering a mix of products such as:

• Home UPS systems

• Solar inverters

• Power conditioning units (PCUs)

• Solar charge controllers

• Solar panels (traded only)

• Batteries

The company markets through a pan-India distributor network and exports all products (except solar panels) internationally.

Promoter Background

The company is backed by four individual promoters:

• Arun Bhardwaj

• Rajnish Sharma

• Ravi Dutt

• Tirath Singh Khaira

They bring over 20 years of combined experience in the power backup and solar industry. Their technical expertise and strategic focus on affordable clean power drive the company’s mission.

IPO Details

Financial Performance (₹ in Lakhs)

✅ Consistent growth in revenue, EBITDA, and net profit
✅ EBITDA margin improvement and efficient cost management
✅ Doubling of PAT in two years highlights business scalability

Valuation Metrics

📊 Fairly valued compared to peers, with decent returns on equity and capital employed.

GMP & Listing Prospects

Note: GMP may change near listing; currently no premium is observed.

Strengths

✅ Strong domestic and export footprint
✅ Increasing adoption of solar energy solutions
✅ Healthy financial performance with consistent growth
✅ Experienced promoter group with industry expertise
✅ Affordable pricing in power backup sector

Risks & Concerns

⚠️ High entry barrier for retail investors (₹2.4L minimum)
⚠️ Low GMP indicates weak short-term sentiment
⚠️ SME IPOs can face liquidity risks post listing
⚠️ Revenue heavily dependent on distributor performance
⚠️ Competitive solar products market with large established players

Expert Recommendation

Final Verdict

Smarten Power Systems IPO is fundamentally strong and fairly priced, backed by consistent growth, robust returns, and experienced promoters.

However, the lack of grey market interest and the high minimum investment size makes it unsuitable for short-term listing gains.

📉 Recommendation:
Avoid for listing gains
Track post-listing for long-term investing opportunity

Disclaimer:

This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

The Upcoming IPOs in this week and coming weeks are Asston Pharmaceuticals, CFF Fluid Control, Smarten Power Systems, Glen Industries, Travel Food Services, Anthem Biosciences, Chemkart India.

The Current active IPO are Meta Infotech, Happy Square Outsourcing Services, Cryogenic OGS.

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