Smarten Power Systems Limited
Fixed Price IPO · NSE
- Price band
- ₹100 - ₹100
- Lot size
- 1,200 shares
- Issue amount
- ₹50 cr
- Total subscription
- 5.54×
- Opens
- 7 Jul 2025
- Closes
- 9 Jul 2025
- Allotment
- 10 Jul 2025
- Listing
- 14 Jul 2025
Offer at a glance
Issue overview
- Issue size
- 50,00,400 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,20,000
- Fresh issue
- ₹37.5 cr
- Offer for sale
- ₹10 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,20,000
- Issue type
- Fixed Price IPO
- Shares before issue
- 1,50,00,000
- Shares after issue
- 1,90,00,800
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,40,000 |
| sHNI | 3 | 3,600 | ₹3,60,000 |
| bHNI | 9 | 10,800 | ₹10,80,000 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 989 | 4,616 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| RETAIL | 23.75 | 110.78 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 8.51 | 7.53 | 3.51 |
| ROE | 39.72 | 56.51 | 44.77 |
| ROCE | 32.58 | 51.44 | 40.84 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 11.75 | 0 | 0 |
| POST IPO(PE) | 14.88 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Smarten Power Systems Limited, established in 2014, specializes in designing and assembling a wide range of power backup and solar products. These include home UPS systems, solar inverters, power conditioning units, charge controllers, and it also trades solar panels and batteries. The company operates across 23 Indian states and two union territories, and has expanded its reach to 17 countries globally, covering regions such as the Middle East, Africa, and South Asia. It markets and assembles products under its own SMARTEN brand, which is backed by a registered patent. The company offers 372 product variants across six major categories, which include home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries. Smarten works through a distribution network of 382 partners and provides after-sales support via 52 service centers. As of May 31, 2025, the company employs 252 staff members across various departments.
Strengths
- Wide Product Portfolio: Offers 372+ SKUs across home UPS, solar inverters, PCUs, charge controllers, solar panels, and batteries for residential and commercial use.
- Strong R&D & Innovation: Skilled R&D team with 10+ years of expertise drives innovation in inverter technology, energy storage, and power conversion.
- Extensive Distribution Network: Presence in 23 states & 2 union territories with 380 distributors, 52 service centers, and 31 global distributors for easy access and after-sales service.
Risk factors
- No Long-Term Distributor Contracts: Works with non-exclusive distributors without long-term deals, risking potential distributor loss and business disruption.
- Dependency on External Suppliers: Relies on third-party vendors for key parts in UPS systems and solar inverters, which may affect production if suppliers fail.
- High Supplier Concentration Risk: Over 85% of trading purchases come from top 5 suppliers, making revenue vulnerable to supply disruptions.
Promoters
Arun Bhardwaj
Rajnish Sharma
Ravi Dutt
Tirath Singh Khaira
Registrar & documents
Lead manager
Arihant Capital Markets Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
374, 1st Floor Pace City-2 Sector - 37, Gurgaon, Haryana, 122001
0124-2210651
[email protected]Company website ↗Understanding SMARTEN IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.