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Smarten Power Systems IPO: Date, GMP, And Price

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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:
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Home UPS Systems
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Solar Inverters / Solar Power Conditioning Units (PCUs)
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Solar Charge Controllers
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Solar Panels
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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.
Click to open demat account and apply for the IPO.
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:
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Acquisition of mobile assets for the production line of the battery manufacturing unit
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To satisfy working capital needs.
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Full or partial repayment of the outstanding debts.
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Capital expenditure requirements for funding.
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General corporate purposes.
Click to check the IPO application status.
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
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Innovative offerings and advancements in technology.
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Superior research and development capabilities.
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Comprehensive distribution network and after-sales services.
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Vendor relations and supply chain productivity.
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Leadership and operational experience.
IPO’s Weaknesses
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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.
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The registered office, assembling unit, and warehouse do not constitute owned property- these are all leased premises.
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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
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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.
Click Here To Stay Updated With The Upcoming IPOs.
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.
Frequently Asked Questions
Jul 07, 2025.
On July 14, 2025, this IPO can be listed.
To apply for this IPO, you need to have a demat account. If not, click to open demat account, then log in to the app and search for IPO, fill in the necessary details, bids, DOB, etc, during the IPO open date, and submit your request.
Its IPO price is Rs. 100.