Smarten Power Systems IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Jul 07 to Jul 09 2025
Price Band
₹100
Current GMP
₹144(44.00%)
Subscription
5.51 times
IPO Details
| IPO Date | July 7, 2025 to July 9, 2025 |
| Listing Date | July 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹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 (aggregating up to ₹2.51 Cr)Arihant Capital Markets Limited |
| 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 |
IPO Date
July 7, 2025 to July 9, 2025
Listing Date
July 14, 2025
Face Value
₹10 per share
Issue Price
₹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 (aggregating up to ₹2.51 Cr)Arihant Capital Markets Limited
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
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| Non-Institutional Buyers*** | 6.31 |
| Individual Investors (IND category bidding for 2 Lots) | 4.66 |
| Total ** | 5.51 |
Anchor Investors
1
Market Maker
1
Non-Institutional Buyers***
6.31
Individual Investors (IND category bidding for 2 Lots)
4.66
Total **
5.51
Day Wise Sub
| Day | NII* | Individual Investors | Total |
|---|---|---|---|
| Day 1 Jul 7, 2025 | 0.00 | 0.22 | 0.11 |
| Day 2 Jul 8, 2025 | 1.13 | 0.68 | 0.91 |
| Day 3 Jul 9, 2025 | 6.31 | 4.66 | 5.51 |
DayDay 1
Jul 7, 2025
NII*0.00
Individual Investors0.22
Total0.11
DayDay 2
Jul 8, 2025
NII*1.13
Individual Investors0.68
Total0.91
DayDay 3
Jul 9, 2025
NII*6.31
Individual Investors4.66
Total5.51
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 14-07-2025 | 100.00 | 15(15.00%) | 115 |
| 13-07-2025 | 100.00 | 15(15.00%) | 115 |
| 12-07-2025 | 100.00 | 7.5(7.50%) | 107.5 |
| 11-07-2025 | 100.00 | 5.5(5.50%) | 105.5 |
| 10-07-2025 | 100.00 | 5(5.00%) | 105 |
| 09-07-2025 | 100.00 | 7(7.00%) | 107 |
| 08-07-2025 | 100.00 | 0(0.00%) | 100 |
| 07-07-2025 | 100.00 | 0(0.00%) | 100 |
| 06-07-2025 | 100.00 | 0(0.00%) | 100 |
| 05-07-2025 | 100.00 | 0(0.00%) | 100 |
| 04-07-2025 | 100.00 | 0(0.00%) | 100 |
| 03-07-2025 | 100.00 | 0(0.00%) | 100 |
| 02-07-2025 | 100.00 | 0(%) | (%) |
Date14-07-2025
Price100.00
GMP15(15.00%)
Estimate List Price115
Date13-07-2025
Price100.00
GMP15(15.00%)
Estimate List Price115
Date12-07-2025
Price100.00
GMP7.5(7.50%)
Estimate List Price107.5
Date11-07-2025
Price100.00
GMP5.5(5.50%)
Estimate List Price105.5
Date10-07-2025
Price100.00
GMP5(5.00%)
Estimate List Price105
Date09-07-2025
Price100.00
GMP7(7.00%)
Estimate List Price107
Date08-07-2025
Price100.00
GMP0(0.00%)
Estimate List Price100
Date07-07-2025
Price100.00
GMP0(0.00%)
Estimate List Price100
Date06-07-2025
Price100.00
GMP0(0.00%)
Estimate List Price100
Date05-07-2025
Price100.00
GMP0(0.00%)
Estimate List Price100
Date04-07-2025
Price100.00
GMP0(0.00%)
Estimate List Price100
Date03-07-2025
Price100.00
GMP0(0.00%)
Estimate List Price100
Date02-07-2025
Price100.00
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| 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 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 July 9, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,40,000 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,60,000 |
| S-HNI (Max) | 8 | 9,600 | ₹9,60,000 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares2,400
Amount₹2,40,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares2,400
Amount₹2,40,000
ApplicationS-HNI (Min)
Lots3
Shares3,600
Amount₹3,60,000
ApplicationS-HNI (Max)
Lots8
Shares9,600
Amount₹9,60,000
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 97.24 | 79.28 | 76.01 |
| Revenue | 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 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 202597.24
31 Mar 202479.28
31 Mar 202376.01
Period EndedRevenue
31 Mar 2025203.20
31 Mar 2024198.73
31 Mar 2023186.06
Period EndedProfit After Tax
31 Mar 202512.77
31 Mar 202411.29
31 Mar 20235.16
Period EndedEBITDA
31 Mar 202516.92
31 Mar 202413.54
31 Mar 20231.86
Period EndedNet Worth
31 Mar 202538.54
31 Mar 202425.77
31 Mar 202314.48
Period EndedReserves and Surplus
31 Mar 202523.54
31 Mar 202424.77
31 Mar 202313.48
Period EndedTotal Borrowing
31 Mar 202516.59
31 Mar 20246.68
31 Mar 20234.13
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Smarten Power Systems Limited | 8.51 | 8.51 | 25.69 | 11.75 | 33.14 | |
| Gp Eco Solutions India Limited | 8.68 | 8.68 | 55.36 | 42.26 | 15.99 | |
| Sungarner Energies Limited | 5.22 | 5.22 | 48.46 | 40.81 | 15.36 | 9.35 |
Company NameSmarten Power Systems Limited
EPS (Basic)8.51
EPS (Diluted)8.51
NAV (per share) (Rs)25.69
P/E (x)11.75
RoNW (%)33.14
P/BV Ratio
Company NameGp Eco Solutions India Limited
EPS (Basic)8.68
EPS (Diluted)8.68
NAV (per share) (Rs)55.36
P/E (x)42.26
RoNW (%)15.99
P/BV Ratio
Company NameSungarner Energies Limited
EPS (Basic)5.22
EPS (Diluted)5.22
NAV (per share) (Rs)48.46
P/E (x)40.81
RoNW (%)15.36
P/BV Ratio9.35
IPO Reservation
| 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 | 50,00,401 (100.00%) |
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
50,00,401 (100.00%)
Information about company
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:
Home UPS Systems
Solar Inverters / Solar Power Conditioning Units (PCUs)
Solar Charge Controllers
Solar Panels
Inverter Batteries
As of May 31, 2025, the company has 252 department employees.
Competitive Strength:
Innovative Product Range and Technological Advancements.
Strong Research and Development (R&D) Capabilities.
Extensive Distribution and After-Sales Service Network.
Vendor Relationships and Supply Chain Efficiency.
Experienced Leadership and Operational Expertise.
Objectives of IPO
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
Disclaimer
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