GSM Foils Limited IPO...
04 Jul, 2025
Smarten Power Systems Limited IPO
Smarten Power Systems Limited's IPO is launched by its company to raise ₹50 crore via a combination fresh issue of 40 lakh shares and an offer for sale (OFS) of approximately 10 lakh shares. The subscription window of the IPO will be open from July 7 to July 9, 2025. The company has decided a fixed price of ₹100 per share for the issue. IPO will have a lot size of 1,200 shares, making a total of ₹1,20,000 required by the retail investor to invest in this IPO. The shares are supposed to be listed on the NSE Emerge platform with a tentative listing date of July 12, 2025.
Company Background
The Smarten Power Systems Limited IPO company was established in 2014 with its headquarters located in Gurugram, Haryana. The company is a leading trader and manufacturer of power backup and solar energy equipment that includes Home UPS systems, solar inverters and power conditioning units. Smarten Power Systems Limited was established with a motive to meet the growing demand for reliable and sustainable energy solutions. It has made a strong presence across India as well as internationally with its innovative products.
Operations & Product Range
Facility & Production
Smarten Power has its primary manufacturing facility located in Haryana and is setting up a new plant in Jhajjar as well. Currently, the company manufactures around 600 units per day including everything from Home UPS, solar inverters, PCUs, to charge controllers. But with the new manufacturing plant, the company is expecting to double its production capacity to 1200 units per day. It is also in the process of acquiring a battery production plant in Himachal Pradesh for better supply chain control and backward integration.
Brands & Market Presence
Smarten Power Systems Limited IPO’s product portfolio includes UPS systems, solar inverters and Power Conditioning Units (PCUs), solar controllers, solar panels and batteries. The company has a distributor network spread over 23 indian states and 2 union territories that helps the company to distribute its products across the country. The company has also expanded its presence internationally by exporting the products to over 18 countries such as the UAE, Nigeria, Bangladesh and Nepal.
Revenue Channels
- The company earns its major revenue, approximately 66.5% with domestic sales.
- The other 33.5% revenue comes from international markets where it exports its products to countries in the Middle East, Africa and South Asia.
- Major revenue contributors are Home UPS systems, solar inverters/PCUs and batteries.
- FY2024 Financials: Revenue of ₹195.2 crore and Profit After Tax (PAT) of ₹11.29 crore.
Management & Shareholding
Promoters & Shareholding
The Smarten Power Systems Limited IPO has Arun Bhardwaj, Rajnish Sharma, Ravi Dutt and Tirath Singh Khaira in its promoters list. As per the prospectus filed with SEBI, promoters currently hold 91.67% of the company’s shares collectively, which will remain at 67.10% after the IPO.
Board Members
The board of directors comprises Arun Bhardwaj (Managing Director), Rajnish Sharma (Director), Ravi Dutt (Director) and Tirath Singh Khaira (Director). Other independent or non-promoter board members are not detailed in public sources.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Smarten Power Systems Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Smarten Power Systems Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 7, 2025 to July 9, 2025 |
| Listing Date | - |
| 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) |
| 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 Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 |
Smarten Power Systems Limited 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 |
| HNI (Min) | 3 | 3,600 | ₹3,60,000 |
Smarten Power Systems Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 91.67% | 67.10% |
Competitive Strength:
- ● Diverse and innovative product range in power backup and solar solutions
- ● Strong R&D and technology focus
- ● Extensive distribution and export network
- ● Robust after-sales service infrastructure
- ● Effective supply chain management, with backward integration into battery manufacturing
Smarten Power Systems Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 97.24 | 203.2 | 12.77 | 38.54 | 16.59 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 79 | 199 | 11 | 25.77 | 6.68 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 76.01 | 186.06 | 5.16 | 14.48 | 4.13 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 | 5.82 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.51 | 7 |
| P/E (x) | 11.75 | 15 |
IPO Objectives
- Working Capital: ₹22 crore (44%)
- Battery Production Assets Purchase: ₹4.19 crore (8.4%)
- Capex for Jhajjar Manufacturing Facility: ₹4.46 crore (8.9%)
- Debt Repayment: ₹0.95 crore (1.9%)
- General Corporate Purposes: ₹4.70 crore (9.4%)
Conclusion
Smarten Power Systems Limited’s IPO provides investors with an opportunity to participate in the growth of a company at the forefront of India’s power backup and solar solutions industry. With a strong domestic and international presence, a robust product portfolio and a clear plan for expansion and backward integration, Smarten is well-positioned for future growth. The IPO proceeds will be used to fund capacity expansion, battery manufacturing and to strengthen the company’s financial position.
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Frequently asked Questions (FAQs )
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1. What is the Smarten Power Systems Limited IPO issue size?
The IPO aims to raise ₹50 crore, including a fresh issue and an offer for sale by existing shareholders.
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2. What is the primary business of Smarten Power Systems Limited?
Smarten manufactures and trades power backup and solar energy equipment, serving both domestic and international markets.
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3. How does Smarten generate its revenue?
Revenue comes from the sale of Home UPS systems, solar inverters/PCUs, batteries and related products, with 66.5% from India and 33.5% from exports.
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4. Who are the promoters of Smarten Power Systems Limited?
The company is promoted by Arun Bhardwaj, Rajnish Sharma, Ravi Dutt and Tirath Singh Khaira.
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5. What will the IPO proceeds be used for?
Funds will be used for working capital, battery production assets, facility expansion, debt repayment and general corporate purposes.
