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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 ₹100.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,40,000.00 (2,400 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 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 Date | July 7, 2025 to July 9, 2025 |
| Listing Date | July 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 50,00,400 shares (aggregating up to ₹50.00 Cr) |
| Reserved for Market Maker | 2,50,800 shares Arihant Capital Markets Ltd. (aggregating up to ₹2.51 Cr) |
| Fresh Issue (Ex Market Maker) | 37,50,000 shares (aggregating up to ₹37.50 Cr) |
| Offer for Sale | 9,99,600 shares of ₹10 (aggregating up to ₹10.00 Cr) |
| Net Offered to Public | 47,49,600 shares (aggregating up to ₹47.50 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 1,90,00,800 shares |
Smarten Power Systems IPO offers total 50,00,400 shares. Out of which 23,74,800 (47.49%) allocated to NII, 23,74,800 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,50,800 (5.02%) |
| NII (HNI) Shares Offered | 23,74,800 (47.49%) |
| Retail Shares Offered | 23,74,800 (47.49%) |
| Total Shares Offered | 50,00,400 (100.00%) |
Smarten Power Systems IPO opens on July 7, 2025, and closes on July 9, 2025.
| IPO Open Date | Mon, Jul 7, 2025 |
| IPO Close Date | Wed, Jul 9, 2025 |
| Tentative Allotment | Thu, Jul 10, 2025 |
| Initiation of Refunds | Fri, Jul 11, 2025 |
| Credit of Shares to Demat | Fri, Jul 11, 2025 |
| Tentative Listing Date | Mon, Jul 14, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jul 9, 2025 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof. 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 | 2,400 | ₹2,40,000 |
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,40,000 |
| HNI (Min) | 3 | 3,600 | ₹3,60,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 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.
| 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 market capitalization of Smarten Power Systems IPO is ₹190.01 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 Rs | 8.51 | 6.72 |
| P/E (x) | 11.75 | 14.88 |
The Company Smarten Power Systems IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] SPSL is engaged in power back-up and solar power products in designing and assembling. The company posted growth in its top and bottom lines for the reported periods. The surge in bottom lines from FY24 onwards raises eyebrows. With tailor made products, the company will be above to maintain the margins going forward. Based on its recent financial data, the issue appears fully priced. Well-informed Investors may park funds for medium to long term. Read detail review...
| Listing Date | July 14, 2025 |
| BSE Script Code | |
| NSE Symbol | SMARTEN |
| ISIN | INE14GK01016 |
| Final Issue Price | ₹100 per share |
| NSE Listing Group | ST (Trade to Trade) |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹144.00 |
| Low | ₹143.00 |
| High | ₹151.20 |
| Last Trade | ₹151.20 |
Smarten Power Systems Ltd.
374,
1st Floor Pace City-2
Sector - 37,
Gurgaon, Haryana, 122001
Phone: 0124-2210651
Email: cs@smartenpowersystems.com
Website: http://www.smartenpowersystems.com/
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Smarten Power Systems IPO is a SME IPO of 50,00,400 equity shares of the face value of ₹10 aggregating up to ₹50.00 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on July 7, 2025, and closes on July 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 July 7, 2025 and closes on July 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 Friday, July 11, 2025. Check the Smarten Power Systems IPO allotment status.
The Smarten Power Systems IPO listing date is on Monday, July 14, 2025.
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