Fixed Price IPO | ₹50 Cr | Listed at NSE SME | Mon, Jul 7, 2025 - Wed, Jul 9, 2025
Smarten Power Systems IPO is a fixed price issue of ₹50.00 crores. The issue is a combination of fresh issue of 0.40 crore shares aggregating to ₹40.01 crores and offer for sale of 0.10 crore shares aggregating to ₹10.00 crores.
Smarten Power Systems IPO bidding started from Jul 7, 2025 and ended on Jul 9, 2025. The allotment for Smarten Power Systems IPO was finalized on Jul 10, 2025. The shares got listed on NSE SME on Jul 14, 2025.
Smarten Power Systems IPO price is ₹100 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,40,000 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,60,000.
Arihant Capital Markets Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Arihant Capital Markets Ltd..
Refer to Smarten Power Systems IPO DRHP for detailed Information.
IPO Open
Mon, Jul 7, 2025
IPO Close
Wed, Jul 9, 2025
Issue Price
₹100 per share
Market Cap (Pre-IPO)
₹190.01 Cr
| IPO Date | 7 to 9 Jul, 2025 |
| Listed on | Mon, Jul 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 50,00,400 shares (agg. up to ₹50 Cr) |
| Reserved for Market Maker | 2,50,800 shares Arihant Capital Markets Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 37,50,000 shares (agg. up to ₹38 Cr) |
| Offer for Sale | 9,99,600 shares of ₹10 (agg. up to ₹10 Cr) |
| Net Offered to Public | 47,49,600 shares (agg. up to ₹47 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 1,90,00,800 shares |
| NSE Symbol | SMARTEN |
| ISIN | INE14GK01016 |
Smarten Power Systems IPO comprises a total issue size of 50,00,400 shares. The net offer to the public is 47,49,600 shares, after excluding 2,50,800 shares allotted on a firm basis. Of the Net offer 23,74,800 (50.00%) allocated to NII 23,74,800 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 23,74,800 | 50.00% | 47.49% |
| Retail Shares Offered | 23,74,800 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,50,800 | 5.02% | |
| Total Shares Offered | 50,00,400 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,40,000 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,40,000 |
| HNI (Min) | 3 | 3,600 | ₹3,60,000 |
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 brand and its registered patent.
The company has a portfolio of 372 SKUs across six categories: home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries.
The Company operates with a network of 382 distributors and 52 service centers for after-sales support.
Products:
As of May 31, 2025, the company has 252 department employees.
Competitive Strength:
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.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 97.24 | 79.28 | 76.01 |
| Total Income | 203.20 | 198.73 | 186.06 |
| Profit After Tax | 12.77 | 11.29 | 5.16 |
| EBITDA | 16.92 | 13.54 | 1.86 |
| NET Worth | 38.54 | 25.77 | 14.48 |
| Reserves and Surplus | 23.54 | 24.77 | 13.48 |
| Total Borrowing | 16.59 | 6.68 | 4.13 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of movable assets of the production line of battery manufacturing unit | 4.19 |
| 2 | To meet the working capital requirements | 22.00 |
| 3 | Repayment in full or in part, of the outstanding borrowings | 0.95 |
| 4 | Funding capital expenditure requirements | 4.46 |
| 5 | General corporate purposes | 4.70 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 | 3.89 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.51 | 6.72 |
| P/E (x) | 11.75 | 14.88 |
| Promoter Holding | 91.67% | 67.1% |
| Market Cap | ₹190.01 Cr. |
The Smarten Power Systems IPO is subscribed 5.51 times on July 9, 2025 6:19:59 PM (Day 3). The public issue subscribed 4.66 times in the individual investors category, [.] times in the QIB category, and 6.31 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| NII* | 6.31 | 23,74,800 | 1,49,73,600 | 0 |
| Individual Investors | 4.66 | 23,74,800 | 1,10,78,400 | 4,616 |
| Total | 5.51 | 47,49,601 | 2,61,74,400 | 5,771 |
Total Application : 5,771
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees | 1.00 |
| 2 | Fees payable to the Legal Counsel | 0.15 |
| 3 | Fees payable to Registrar to the Offer | 0.05 |
| 4 | Fees payable for Advertising and Publishing expenses | 0.03 |
| 5 | Fees payable to Regulators including Stock Exchanges | 0.09 |
| 6 | Payment for Printing & Stationery, Postage etc. | 0.02 |
| 7 | Fees payable to the Auditor, Advisor and other Professionals | 0.20 |
| 8 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 3.11 |
| 9 | Fees payable to Monitoring Agency | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹144.00 |
| Low | ₹143.00 |
| High | ₹151.20 |
| Last Trade | ₹151.20 |
Lead Manager Reports
Smarten Power Systems IPO is a SME IPO of 50,00,400 equity shares of the face value of ₹10 aggregating up to ₹50 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Jul 7, 2025, and closes on Wed, Jul 9, 2025.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Smarten Power Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Smarten Power Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Smarten Power Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Smarten Power Systems IPO opens on Mon, Jul 7, 2025 and closes on Wed, Jul 9, 2025.
Smarten Power Systems IPO lot size is 1200, and the minimum amount required for application is ₹2,40,000, with 2 lots being the minimum application size.
You can apply in Smarten Power Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Smarten Power Systems IPO will be done on Thursday, July 10, 2025, and the allotted shares will be credited to your demat account by Fri, Jul 11, 2025. Check the Smarten Power Systems IPO allotment status.
The Smarten Power Systems IPO listing date is on Mon, Jul 14, 2025.
