Smarten Power Systems
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 07 Jul 2025 – 09 Jul 2025
- Listing date
- 14 Jul 2025
- Face value
- ₹10 per share
- Issue price
- ₹100 per share
- Lot size
- 1,200 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹50 Cr
- Market cap at offer price
- ₹190 Cr
- Promoter holding
- 91.67% → 67.10% pre-issue → post-issue
- ISIN
- INE14GK01016
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Arihant Capital Markets Ltd.
- Registered office
- 374, 1st Floor Pace City-2, Sector-37, Haryana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 2,50,800 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹100
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,20,000 |
| S-HNI (min) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (max) | 8 | 9,600 | ₹9,60,000 |
| B-HNI (min) | 9 | 10,800 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.51 | 6.72 |
| P/E (×) | 11.75 | 14.88 |
| Price to book (×) | 3.89 | — |
| Market cap | — | ₹190 Cr |
Key performance indicators
- Return on net worth
- 33.14%
- ROCE
- 32.58%
- Debt / equity
- 0.43
- PAT margin
- 6.28%
- EBITDA margin
- 8.39%
- NAV per share
- ₹25.69
- Price to book
- 3.89
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Smarten Power Systems
Smarten Power Systems Limited is an Indian company engaged in designing and assembling power backup and advanced solar power products such as Home UPS systems, solar inverters, solar power conditioning units (PCUs), solar charge controllers, and batteries, as well as trading of solar panels and batteries. Incorporated in July 2014 as a private company and converted to public limited on November 20, 2024, the company operates with four promoters having over two decades of experience in the power-backup industry. The company generates approximately 66.51% of revenue from domestic sales across 23 states and 2 union territories through a network of 347 distributors and 49 service centers, with 33.49% from exports to 17 countries including Nigeria, West Africa, Nepal, UAE, and Qatar. Currently operating with 238 employees and a production capacity of 600 units per day, the company derives significant revenue from Home UPS Systems (23.78%), Solar Inverters/PCUs (34.25%), Batteries (25.32%), and Solar Panels (15.04%).
Company Analysis
from DRHPSmarten Power Systems designs, assembles, and trades power backup and solar power products including Home UPS systems, solar inverters, solar power conditioning units (PCUs), and solar charge controllers, with presence across 23 states and 2 union territories in India and 17 countries globally.
Smarten Power Systems Limited is an Indian company engaged in designing and assembling power backup and advanced solar power products such as Home UPS systems, solar inverters, solar power conditioning units (PCUs), solar charge controllers, and batteries, as well as trading of solar panels and batteries. Incorporated in July 2014 as a private company and converted to public limited on November 20, 2024, the company operates with four promoters having over two decades of experience in the power-backup industry. The company generates approximately 66.51% of revenue from domestic sales across 23 states and 2 union territories through a network of 347 distributors and 49 service centers, with 33.49% from exports to 17 countries including Nigeria, West Africa, Nepal, UAE, and Qatar. Currently operating with 238 employees and a production capacity of 600 units per day, the company derives significant revenue from Home UPS Systems (23.78%), Solar Inverters/PCUs (34.25%), Batteries (25.32%), and Solar Panels (15.04%).
Objects of the Issue
- Purchase of movable assets of the production line of battery manufacturing unit 418.90 lakhs p.90
- To meet the working capital requirements 2,200.00 lakhs p.90
- Repayment in full or in part, of our outstanding borrowings 95.00 lakhs p.90
- Funding capital expenditure requirements 446.15 lakhs p.90
- General corporate purposes [●] lakhs (not to exceed 15% of Gross Proceeds) p.90
Issue Structure
- Total Issue
- 50,00,400 equity shares of face value ₹10 each aggregating up to ₹[●] Lakhs
- Fresh Issue
- 40,00,800 equity shares of ₹10 each aggregating up to ₹[●] Lakhs
- Offer for Sale
- 9,99,600 equity shares of ₹10 each aggregating up to ₹[●] Lakhs (by promoter selling shareholders)
- Price Band
- ₹[●] per equity share (100% Fixed Price Offer)
- Lot Size
- [●] equity shares (market lot) and multiples of [●] thereafter; subject to minimum allotment of [●] equity shares
- Face Value
- ₹10 per equity share
Business Model
The company earns revenue through two main channels: (1) designing and assembling power backup and solar power products which are sold through an extensive network of 347 distributors within India and 33 distributors internationally; (2) trading of solar panels and batteries sourced from suppliers. The company operates on a B2B model through distributors rather than direct consumer sales. Revenue composition includes approximately 66.51% domestic sales and 33.49% export sales.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Arun Bhardwaj | Promoter/Promoting Director | 24.44% | [●]% |
| Rajnish Sharma | Promoter/Promoting Director | 24.44% | [●]% |
| Ravi Dutt | Promoter/Promoting Director | 24.44% | [●]% |
| Tirath Singh Khaira | Promoter/Promoting Director | 18.34% | [●]% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.