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Smarten Power Systems IPO
Price Band
₹
Issue Size
₹50.0 Cr
Lot Size
1,200 shares
Min Investment
₹240,000
2 LOTS MIN
GMP
+₹15.0 (15.0%)
Issue Price
₹100.0
Subject to Sauda
₹13700
Paid only if allotted
Smarten Power Systems IPO AI Summary
- Smarten Power Systems IPO is listed on NSE SME in the Other Electrical Equipment sector.
- Subscription window: 07 Jul–09 Jul 2025, listing on 14 Jul 2025.
- Current GMP is +₹15.0 (15.0%) — unofficial and can change daily.
Smarten Power Systems Limited is an emerging player in the power backup and solar products sector, with a strong emphasis on innovation and a wide distribution network. The company has shown consistent revenue and profit growth, and its IPO presents an opportunity for investors looking to enter the renewable energy market.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Smarten Power Systems IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 09 Jul 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Smarten Power Systems IPO Grey Market Premium (GMP) Today
GMP
+₹15.0
GMP %
+15.0%
Est. Listing
₹115.0
Updated: 25 Jul 2026 14:14
About the Company
Incorporated in 2014, Smarten Power Systems Limited designs and assembles power backup and solar products, including Home UPS systems, solar inverters, power conditioning units, and charge controllers, and trades solar panels and batteries. The Company operates in 23 states and two union territories in India and has a global presence in 17 countries, including the Middle East, Africa, and South Asia. The company assembles and trades products under the SMARTEN brand and its registered patent. The company has a portfolio of 372 SKUs across six categories: home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries. The Company operates with a network of 382 distributors and 52 service centers for after-sales support. Products: Home UPS Systems Solar Inverters / Solar Power Conditioning Units (PCUs) Solar Charge Controllers Solar Panels Inverter Batteries As of May 31, 2025, the company has 252 department employees. Competitive Strength: Innovative Product Range and Technological Advancements. Strong Research and Development (R&D) Capabilities. Extensive Distribution and After-Sales Service Network. Vendor Relationships and Supply Chain Efficiency. Experienced Leadership and Operational Expertise.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 97.24 | 79.28 | 76.01 |
| Total Income | 203.20 | 198.73 | 186.06 |
| Profit After Tax | 12.77 | 11.29 | 5.16 |
| EBITDA | 16.92 | 13.54 | 1.86 |
| NET Worth | 38.54 | 25.77 | 14.48 |
| Reserves and Surplus | 23.54 | 24.77 | 13.48 |
| Total Borrowing | 16.59 | 6.68 | 4.13 |
Key Ratios
EPS
₹8.51
NAV
₹25.69
ROE
39.72%
ROCE
32.58%
RoNW
33.14%
P/B Value
3.89
P/E Ratio
11.75
Market Cap
₹190.01 Cr
PAT Margin
6.28%
Debt/Equity
0.43
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sungarner Energies Limited | 48.46 | 15.36% | 40.81 | 5.22 | 5.22 |
| Gp Eco Solutions India Limited | 55.36 | 15.99% | 42.26 | 8.68 | 8.68 |
| Smarten Power Systems Limited This IPO | 25.69 | 33.14% | 11.75 | 8.51 | 8.51 |
Promoters
Arun Bhardwaj, Rajnish Sharma, Ravi Dutt and Tirath Singh Khaira
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase of movable assets of the production line of battery manufacturing unit 4.19 2 To meet the working capital requirements 22.00 3 Repayment in full or in part, of the outstanding borrowings 0.95 4 Funding capital expenditure requirements 4.46 5 General Corporate Purposes 4.70 6 Issue Expenses 4.69 Total 40.98
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹186.06 Cr in the year ending 31 Mar 2023, rising to ₹198.73 Cr by 31 Mar 2024, and further increasing to ₹203.20 Cr by 31 Mar 2025. This shows a consistent growth trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹5.16 Cr for the year ending 31 Mar 2023, which increased to ₹11.29 Cr by 31 Mar 2024, and further grew to ₹12.77 Cr by 31 Mar 2025. This indicates a positive trend in profitability over the periods.
Valuation
At the issue price of ₹100, Smarten Power Systems has an implied P/E of 11.75, priced at roughly 11.75 trailing earnings, versus peers trading at P/E ratios ranging from 40.81 to 42.26.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of demand for an IPO before its listing. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite. Investors often look at GMP to gauge market sentiment towards an IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's growth prospects and market conditions.
Who May Want to Wait
Investors who prefer stable, established companies with a proven track record may want to avoid this IPO, as it operates in a competitive and rapidly evolving sector.
IPO Timeline, Explained
The IPO opens on 7 July 2025 and closes on 9 July 2025. Allotment of shares is expected to be finalized by 10 July 2025, with the listing date set for 14 July 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing. Investors should be aware of the risks involved in relying on listing-day gains.
This evaluation is generated from Smarten Power Systems's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Smarten Power Systems IPO GMP today?
Smarten Power Systems IPO GMP today is +₹15.0 (15.0%). GMP is an unofficial grey-market indicator and can change daily.
When does Smarten Power Systems IPO open and close?
Smarten Power Systems IPO opens on 07 July 2025 and closes on 09 July 2025.
When does Smarten Power Systems IPO list on the stock exchange?
Smarten Power Systems IPO listed on 14 July 2025 at ₹115.0.
What is the lot size for Smarten Power Systems IPO?
The lot size for Smarten Power Systems IPO is 1200 shares, requiring a minimum investment of ₹240,000 (2 lots).
What is the lot size for this IPO?
The lot size for Smarten Power Systems IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required for this IPO is ₹2,40,000.
What is the issue price of the shares?
The issue price of the shares is ₹100.
When does the IPO open and close?
The IPO opens on 7 July 2025 and closes on 9 July 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares based on demand in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 Jul 2025
Close
09 Jul 2025
Allotment
10 Jul 2025
Listing
14 Jul 2025
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