Smarten Power Systems IPO
Open SmeCurrent GMP
₹15 (+15.00%)
Price Band
₹ 100 – 100
Lot Size
1200
Issue Size
₹50 Cr
Minimum Investment
₹240000 (2400 Shares)
Listing Date
14 July 2025
Subscription
6.41x
About the Company
Smarten Power Systems Limited is an Indian company engaged in designing, assembling, and trading power backup and solar energy products, including:
- Home UPS systems
- Solar inverters
- Solar power conditioning units (PCUs)
- Solar charge controllers
- Solar panels and batteries (trading)
Smarten exports all products except solar panels, with 76.41% revenue from domestic sales and 23.59% from exports.
History & Corporate Structure
- Incorporated: July 30, 2014, as Smarten Power Systems Private Limited (CIN: U31401HR2014PLC052897)
- Converted to public limited company: November 20, 2024
- Registered Office: 374, 1st Floor, Pace City-2, Sector 37, Gurgaon, Haryana – 122001
Mission & Vision
Smarten aims to promote sustainable energy using innovative and affordable renewable energy solutions. With its slogan “Fusion is the Future”, the company emphasizes solar energy as a key driver of growth in both domestic and international markets, especially in developing regions.
Markets Served
- Domestic: Operations in 23 states and 2 union territories
- International: Exports to over 18 countries, including the Middle East, Africa, and South Asia
Product Range
- Home UPS systems
- Solar inverters and PCUs
- Solar charge controllers
- Solar panels and batteries (traded, not manufactured)
Products are sold under Smarten’s own brand and patents, catering to both residential and commercial segments.
Infrastructure
Current Facilities:
- Registered Office (Gurgaon): 4,843 sq. ft. – back-end operations
- Assembly Unit (Gurgaon): 22,500 sq. ft. – production, R&D, QA, operations
- Warehouse (Gurugram): 16,000 sq. ft. – logistics and dispatch
Proposed Expansion:
- Manufacturing Unit (Jhajjar, Haryana): 41,903 sq. ft. at Model Economic Township (MET)
- Located near KMP Expressway and Delhi-Mumbai Industrial Corridor
- Expected operational timeline: Fiscal 2025–2026
- Designed for enhanced production, R&D, and storage capacity
- Asset Acquisition:
- Entered into an agreement (Sept 19, 2024) with Su-Urja Solar Systems Pvt. Ltd.
- Acquired movable assets of a battery manufacturing unit in Baddi, Himachal Pradesh
- Property area: 32,234.40 sq. ft.
- Purchase value: ₹418.90 Lakhs (incl. GST)
Production Capacity
- Current Output: ~600 units/day
- Post-Expansion Target: ~1,200 units/day
- Flexible production capacity for low, medium, and high-capacity energy systems.
Key Strengths
- Strong in-house R&D and product innovation
- Flexible and scalable manufacturing
- Focus on quality assurance and application-specific product development
- Products designed to meet the diverse needs of households and commercial solar projects
- Operates under own brand and registered patents
Promoters
- Arun Bhardwaj
- Rajnish Sharma
- Ravi Dutt
- Tirath Singh Khaira
Promoters Holding
Holding Pre Issue
91.67%
Holding Post Issue
67.10%
Objects of the Issue
The Company Smarten Power Systems IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Purchase of movable assets of the production line of battery manufacturing unit
- To meet the working capital requirements
- Repayment in full or in part, of the outstanding borrowings
- Funding capital expenditure requirements
- General corporate purposes
Address / Contact Info
Smarten Power Systems Limited
374, 1st Floor Pace City-2
Sector - 37, Gurgaon,
Haryana, 122001
Phone: 0124-2210651
Email: cs@smartenpowersystems.com
Website: http://www.smartenpowersystems.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 07 July 2025
IPO Close Date
Wednesday, 09 July 2025
Basis of Allotment
Thursday, 10 July 2025
Initiation of Refunds
Friday, 11 July 2025
Credit of Shares to Demat
Friday, 11 July 2025
Listing Date
Monday, 14 July 2025 — NSE & BSE
Important Dates
Open Date
07 July 2025
Close Date
09 July 2025
Basis Of Allotment
10 July 2025
Listing Date
14 July 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 97.24 | 79.28 | 76.01 |
| Revenue | 203.2 | 198.73 | 186.06 |
| Profit After Tax | 12.77 | 11.29 | 5.16 |
| Net Worth | 38.54 | 25.77 | 14.48 |
| Reserve & Surplus | 23.54 | 24.77 | 13.48 |
| Total Borrowings | 16.59 | 6.68 | 4.13 |
EPS Pre
8.51%
EPS Post
6.72%
P/E Pre
11.75
P/E (Post Issue)
14.88x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mon, Mar 31, 2025. |
|---|---|
| ROE % | 39.72 |
| ROCE % | 32.58 |
| Debt / Equity | 0.43 |
| RoNW % | 33.14 |
| PbW | 0 |
| Pat Margin % | 6.28 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Non-Institutional | 2374800 | 0 | 0 |
| Retail Investors | 2374800 | 0 | 0 |
| Total | 4749601 | 0 | 0 |
Subscription Status ( Wed, 09 Jul 25 01:37 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 0 | 122400 | 0x |
| Non-Institutional | 2374800 | 15102000 | 6.36x |
| Total | 2374800 | 15224400 | 6.41x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 240,000.00 |
| Retail (Max) | 2 | 2,400 | 240,000.00 |
| S-HNI (Min) | 3 | 3,600 | 360,000.00 |
| 8 | 9,600 | 960,000.00 | |
| 9 | 10,800 | 1,080,000.00 |
Registrar
Maashitla Securities Pvt. Limited
011-45121795-96
investor.ipo@maashitla.com
https://www.maashitla.com
Book Running Lead Managers
- Arihant Capital Markets Ltd
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Smarten Power Systems IPO is a Fixed price IPO worth ₹50 crores. The price band is ₹100 to 100 per share. The IPO opens on Mon, Jul 7, 2025 and closes on Wed, Jul 9, 2025. It will be listed on BSE and NSE. Maashitla Securities Pvt. Limited is the registrar.
The Smarten Power Systems IPO opens on Mon, Jul 7, 2025 and closes on Wed, Jul 9, 2025
Smarten Power Systems IPO Price Band is ₹100 to 100.
Smarten Power Systems IPO lot size is 1200, and the minimum amount required for application is ₹240000.
The minimum investment for Smarten Power Systems IPO is approximately ₹240000 based on the upper price band.
To apply for the Smarten Power Systems IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Jul 9, 2025. After submission, funds are blocked until the basis of allotment of Smarten Power Systems IPO is finalised.
Smarten Power Systems IPO issue size is ₹50 crores.
Smarten Power Systems IPO allotment date is Sat, Jun 27, 2026.
The registrar for Smarten Power Systems IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website for IPO allotment status, refund processing, and other queries related to Smarten Power Systems IPO through their official website or helpline.
The Smarten Power Systems IPO GMP (Grey Market Premium) is ₹15 as of Mon, Jul 14, 2025. Based on the upper price band of ₹100 per share, the estimated Smarten Power Systems IPO listing price is ₹115, indicating a potential listing gain of approximately 31% over the issue price.