Smarten Power Systems IPO: Date, GMP, And Price

Smarten Power Systems IPO- Complete Overview

Smarten Power Systems IPO under the SME IPO category is a fixed price issue of Rs. 50 Cr by Smarten Power Systems Limited. The company was founded in 2014 and develops products such as Home UPS systems, solar inverters, power conditioning units, charge controllers, and also trades in solar panels and batteries.

Its global span includes the Middle East, Africa, and South Asia, in addition to India, where it is present in 23 states and 2 union territories. Smarten is a registered patent under which the company assembles and trades products.

The company has a portfolio of 372 SKUs, of which 6 are the following: home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries, and operates with a network of 382 distributors and 52 service centres that provide after-sales support and guarantee services for these products.

Product:

• Home UPS Systems

• Solar Inverters / Solar Power Conditioning Units (PCUs)

• Solar Charge Controllers

• Solar Panels

• Inverter Batteries.

 

Smarten Power Systems IPO Overview

The Smarten Power Systems IPO date is on 07 July 2025, and its initial public offering will end on 09 July 2025. 

The Rs. 50 Crore new SME IPO comprises a combination of a fresh issue of 40.01 lac Shares (Rs. 40.01 Cr) and an offer for sale (OFS) of 10 lac Shares (Rs. 10 Cr). The Smarten Power Systems IPO price is Rs. 100 for each Share. 

The Smarten Power Systems IPO listing date (expected) might be on Monday, Jul 14, 2025, and listing at the NSE and SME.

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Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	97.24	79.28	76.01
Total Revenue	203.20	198.73	186.06
PAT	12.77	11.29	5.16
Net Worth	38.54	25.77	14.48
Reserves & Surplus	23.54	24.77	13.48
Borrowings	16.59	6.68	4.13

 

 

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(251.02)	16.34	(253.78)
Net Cash Flow Investing Activities	(579.99)	(149.92)	(35.42)
Net Cash Flow Financing Activities	910.67	194.7	208.52

 

Revenue Bifurcation

Geography-wise Revenue Bifurcation

 

Sales-wise Revenue Bifurcation

(Source: RHP)

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Acquisition of mobile assets for the production line of the battery manufacturing unit

• To satisfy working capital needs.

• Full or partial repayment of the outstanding debts.

• Capital expenditure requirements for funding.

• General corporate purposes.

 

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Listed Peers of Smarten Power Systems Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
GP Eco Solutions India Limited	10	8.85	42.26
Sungarner Energies Limited	10	7.45	40.81

 

Evaluation

The Smarten Power Systems Limited IPO price is Rs. 100 for each Share.

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 8.51 from the last year, the resulting P/E ratio is 11.75x.

Considering the weighted EPS of Rs. 7.35 for the last three years, the P/E ratio is 13.60x.

Explore the Silky Overseas IPO.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 41.53x.

Particulars	P/E Ratio (x)
Highest	42.26
Lowest	40.81
Average	41.53

In simple words, the P/E ratio of this IPO is 11.75x, compared with the industry’s average P/E of 41.53x, indicating an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

 

IPO's Strengths 

• Innovative offerings and advancements in technology.

• Superior research and development capabilities.

• Comprehensive distribution network and after-sales services.

• Vendor relations and supply chain productivity.

• Leadership and operational experience.
  
  
  

IPO’s Weaknesses

• Smarten Power lacks any experience in manufacturing batteries, as the company currently only trades in raw battery products. While the firm hopes to initiate battery production, the move could entail operational risks relating to the procurement of raw materials, maintaining product quality, and compliance with regulations.

• The registered office, assembling unit, and warehouse do not constitute owned property- these are all leased premises.

• It has primary operations in just two states- Haryana and UP, contributing significantly to its revenue. Any adverse economic, regulatory, or environmental developments in these regions could affect the company’s revenue.
  
  

Smarten Power Systems IPO GMP

Smarten Power Systems IPO GMP is Rs. 0 as of 04 Jul 2025 at the time of writing this information. Hence, its estimated listing price might be Rs. 100.

IPO Timetable (Tentative)

The Smarten Power IPO date of opening is from Jul 07 to Jul 09, 2025, allotment on Jul 10, refund initiation on Jul 11, and listing on Jul 14, 2025.

Events	Date
IPO Opening Date	Jul 07, 2025
IPO Closing Date	Jul 09, 2025
IPO Allotment Date	Jul 10, 2025
Refund Initiation	Jul 11, 2025
IPO Listing Date	Jul 14, 2025

 

 

 

Smarten Power Systems IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 50,00,400 Shares (Rs. 50 Cr) with a market maker portion of 2,50,800 Shares (Rs. 2.51 Cr).

IPO Opening & Closing Date	07 Jul, 2025 to 09 Jul, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 100 per Share.
Lot Size	2400 Shares
Issue Size	50,00,400 Shares (Rs. 50 Cr)
Offer for Sale	9,99,600 Shares (Rs. 10 Cr)
Fresh Issue	37,50,000 Shares (Rs. 37.50 Cr)
Listing at	NSE, SME
Issue Type	Fixed Price Issue
Registrar	Maashitla Securities Private Limited

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (2400 Shares) for Rs. 2,40,000 and in multiples thereof, while for HNI investors, the minimum Lot is 3 (3600 Shares) for Rs. 3,60,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

IPO Reservation (% of Net Issue)

Market Maker’s Portion	5.02%
Retail’s Portion	47.49%
Non-Institutional Portion	47.49%

 

Promoters And Management of Smarten Power Systems Ltd.

• Arun Bhardwaj

• Rajnish Sharma

• Ravi Dutt

• Tirath Singh Khaira.

Pre-Issue Promoter Shareholding	91.67%
Post-Issue Promoter Shareholding	67.10%

 

IPO Lead Managers

• Arihant Capital Markets Ltd.

 

 

Dividend Policy

The company has not declared dividends since its incorporation.

 

Conclusion

Smarten Power Systems IPO presents an investment opportunity in the solar and power backup industry due to its robust financial performance and expansion strategy. Its IPO seems undervalued based on the company’s P/E ratio compared to its peers in the industry. Always verify the latest GMP as well as the company’s fundamentals prior to making any decision.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.