Smarten Power Systems IPO: Complete Overview, Dates & GMP Guide

Discover all you need to know about the Smarten Power Systems IPO — issue price, IPO GMP today, financials, lot size, SME IPO timeline, company strengths, weaknesses, and how to apply.

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Company Overview

• Name: Smarten Power Systems Ltd
• Established: 2014
• Product Line:
  • Home UPS Systems
  • Solar Inverters / PCUs
  • Charge Controllers
  • Solar Panels & Batteries
• Reach: India (23 states + 2 UTs), Middle East, Africa, South Asia
• Distribution Network: 382 Distributors, 52 Service Centers
• Portfolio: 372 SKUs under registered “Smarten” patent

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Smarten Power Systems IPO Details

• IPO Type: SME (Fixed Price Issue)
• Total Issue Size: ₹50 Crores
  • Fresh Issue: ₹40.01 Cr (40.01 lakh shares)
  • Offer for Sale (OFS): ₹10 Cr (10 lakh shares)
• Issue Price: ₹100 per share
• Face Value: ₹10 per share
• Lot Size: 2,400 shares (₹2,40,000)
• Listing Exchange: NSE SME
• Expected Listing Date: 14 July 2025

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IPO Schedule (Tentative)

Event	Date
IPO Opens	07 July 2025
IPO Closes	09 July 2025
Allotment Date	10 July 2025
Refunds Initiated	11 July 2025
Listing Date	14 July 2025

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Financial Highlights (in ₹ Cr)

Particulars	FY 2023	FY 2024	FY 2025
Total Assets	76.01	79.28	97.24
Revenue	186.06	198.73	203.20
Net Profit	5.16	11.29	12.77
Net Worth	14.48	25.77	38.54

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Cash Flow Summary (in ₹ Lakhs)

Type	FY 2023	FY 2024	FY 2025
Operating Activities	(253.78)	16.34	(251.02)
Investing Activities	(35.42)	(149.92)	(579.99)
Financing Activities	208.52	194.70	910.67

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Revenue Bifurcation

• By Geography: India vs. Overseas Markets
• By Product: UPS, PCUs, Charge Controllers, Panels, Batteries

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Valuation & GMP

• FY 2025 EPS: ₹8.51 → P/E Ratio: 11.75×
• 3-Year Weighted EPS: ₹7.35 → P/E: 13.60×
• Industry Average P/E: ~41.53×
• Smarten IPO GMP Today: ₹0 (as of 04 July 2025)
• Implied Listing Price: ~₹100

Based on P/E ratio, the Smarten Power Systems IPO appears undervalued compared to peers.

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IPO Objectives

• Acquire mobile assets for battery production
• Meet working capital requirements
• Repay existing debts
• Capital expenditure for expansion
• General corporate purposes

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Promoters & Management

• Promoters: Arun Bhardwaj, Rajnish Sharma, Ravi Dutt, Tirath Singh Khaira
• Pre-Issue Holding: 91.67%
• Post-Issue Holding: 67.10%

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Lot Allocation

• Retail Investors: 2 lots (2,400 shares) = ₹2,40,000
• HNI (NII): Minimum 3 lots (3,600 shares) = ₹3,60,000
• Market Maker Portion: 5.02%
• Retail Quota: 47.49%
• NII Quota: 47.49%

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Strengths

• Diverse solar and UPS product portfolio
• In-house R&D capabilities
• Pan-India distributor network
• Strong vendor relations
• Experienced leadership

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Weaknesses

• No in-house battery manufacturing (yet)
• Operates on leased properties
• Major revenue comes from Haryana & UP

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How to Apply

1. Open or use your demat account
2. Submit your Smarten Power Systems IPO bid between 07–09 July 2025
3. Appl