Comparison between Shayona Engineering IPO and Smarten Power Systems IPO.
Shayona Engineering IPO is a SME Fixed Price IPO proposed to list at BSE SME while Smarten Power Systems IPO is a SME Fixed Price proposed to list at NSE SME.
| Shayona Engineering IPO | Smarten Power Systems IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Fixed Price |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Horizon Management Pvt.Ltd. | Arihant Capital Markets Ltd. |
| Registrar | Kfin Technologies Ltd. | Maashitla Securities Pvt.Ltd. |
| Market Maker | Horizon Financial Consultants Pvt.Ltd. | Arihant Capital Markets Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | ||
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Shayona Engineering IPO is up to ₹14.11 Cr whereas the issue size of the Smarten Power Systems IPO is up to ₹47.50 Cr. The final issue price of Shayona Engineering IPO is ₹144.00 per share and of Smarten Power Systems IPO is ₹100.00 per share.
| Shayona Engineering IPO | Smarten Power Systems IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹140.00 per share | |
| Issue Price (Upper) | ₹144.00 per share | |
| Issue Price (Final) | ₹144.00 per share | ₹100.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 1200 shares |
| Fresh Issue Size | 9,80,000 shares | 37,50,000 shares |
| Fresh Issue Size (Amount) | up to ₹14.11 Cr | up to ₹37.50 Cr |
| OFS Issue Size | 0 shares | 9,99,600 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹10.00 Cr |
| Issue Size Total | 9,80,000 shares | 47,49,600 shares |
| Issue Size Total (Amount) | up to ₹14.11 Cr | up to ₹47.50 Cr |
Shayona Engineering IPO opens on Jan 22, 2026, while Smarten Power Systems IPO opens on Jul 07, 2025. The closing date of Shayona Engineering IPO and Smarten Power Systems IPO is Jan 27, 2026, and Jul 09, 2025, respectively.
| Shayona Engineering IPO | Smarten Power Systems IPO | |
|---|---|---|
| Anchor Bid Date | ||
| Issue Open | Jan 22, 2026 | Jul 07, 2025 |
| Issue Close | Jan 27, 2026 | Jul 09, 2025 |
| Basis Of Allotment (Tentative) | Jan 28, 2026 | Jul 10, 2025 |
| Initiation of Refunds (Tentative) | Jan 29, 2026 | Jul 11, 2025 |
| Credit of Share (Tentative) | Jan 29, 2026 | Jul 11, 2025 |
| Listing date (Tentative) | Jan 30, 2026 | Jul 14, 2025 |
| Anchor Lockin End date 1 | ||
| Anchor Lockin End date 2 |
Shayona Engineering IPO P/E ratio is 17.03, as compared to Smarten Power Systems IPO P/E ratio of 11.75.
| Shayona Engineering IPO | Smarten Power Systems IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)
| Company Financials (Restated Consolidated)Smarten Power Systems Ltd.'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.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 87.29 | 91.67 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 64.15 | 67.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 17.03 | 11.75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹56.05 Cr. | ₹190.01 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 39.72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 29.03 | 32.58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹8.46 | ₹8.51 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 34.81 | 33.14 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Shayona Engineering IPO Retail Individual Investors (RII) are offered 6,68,000 shares while in Smarten Power Systems IPO retail investors are offered 6,68,000 shares. Qualified Institutional Buyers (QIB) are offered 12,000 shares in Shayona Engineering IPO and 0 shares in Smarten Power Systems IPO.
| Shayona Engineering IPO | Smarten Power Systems IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | |
| Market Maker Reservation | 52,000 shares | 2,50,800 shares |
| QIB | 12,000 shares | 0 shares |
| NII | 3,00,000 shares | 23,74,800 shares |
| RII | 6,68,000 shares | 23,74,800 shares |
| Employee | 0 shares | |
| Others | ||
| Total | 9,80,000 shares | 47,49,600 shares |
Shayona Engineering IPO subscribed 5.43x in total, whereas Smarten Power Systems IPO subscribed 5.51x.
| Shayona Engineering IPO | Smarten Power Systems IPO | |
|---|---|---|
| QIB (times) | 3.33x | |
| NII (times) | 9.30x | 6.31x |
| Big NII (times) | 12.17x | |
| Small NII (times) | 5.01x | |
| RII (times) | 3.73x | 4.66x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 5.43x | 5.51x |
