Listed

Smarten Power Systems Ltd. IPO

Smarten Power Systems Ltd, a power‑backup and clean‑energy equipment maker, has fixed its IPO price at ₹100 per share and will open on July 7. The ₹50 crore issue—₹40 cr fresh issue and ₹10 cr OFS—will fund battery unit expansion, debt repayment, and working capital needs, ahead of its listing on the NSE Emerge platform.

DRHP Final Prospectus Check Allotment Status

Min Investment

₹1,20,000

Lot Size

1,200 Shares

Price Range

₹100

Issue Size (₹ Cr.)

₹50.00 Cr

IPO Type

NSE SME

Key Metrics

Face Value

₹ 10

GMP

₹ 0.00

Subscription

0.17x

EPS

₹ 6.72

P/E Ratio

14.88 x

RoNW

33.14%

ROE

39.72%

Debt to Equity (₹ Cr.)

0.43

Timeline

IPO Opened07/07/2025Monday

IPO Closed09/07/2025Wednesday

Allotted10/07/2025Thursday

Refunded11/07/2025Friday

Listed14/07/2025Monday

Strengths

Wide Product Range - The company manufactures and sells a broad portfolio including solar inverters, batteries, UPS systems, and power control units, meeting both residential and industrial needs.
Strong Distribution Network - It operates through hundreds of distributors and service centers across India and internationally, giving it strong market reach.
Export Presence - Smarten Power has established a growing footprint in export markets, particularly in Africa and South Asia, adding a revenue diversification edge.
Improving Financials - Revenue and profit margins have shown strong growth in recent years, indicating operational efficiency and expanding demand.
Experienced Promoters - The leadership team brings years of experience in power electronics, supporting product development and market expansion.

Weaknesses

Geographic Revenue Dependency - A major portion of sales comes from just a few Indian states, increasing the risk of regional disruptions impacting revenue.
No Long-Term Contracts - The company lacks long-term agreements with key distributors or suppliers, which could impact business stability.
Litigation Risk - Some properties used by the company are under legal disputes, which may affect operations if outcomes are unfavorable.
High Working Capital Needs - The business requires significant working capital to maintain inventory and fulfill orders, straining liquidity at times.
Foreign Exchange Exposure - With a portion of revenue coming from exports, earnings can be affected by fluctuations in currency exchange rates.