Smarten Power Systems IPO, Day 1: GMP, Subscription Status, Price Band And More

Smarten Power Systems Ltd. launched its initial public offering (IPO) on Monday to raise Rs 50 crore. The company manufactures products used in solar systems. Those who want to bid for shares in the IPO must check the following details before making an investment call.

The Smarten Power Systems IPO is a fixed price issue of Rs 50 crore. It comprises a fresh issue of 40.01 lakh shares worth Rs 40.01 crore and an offer for sale of 10 lakh shares worth Rs 10 crore.

Retail investors can participate in the IPO by bidding for two lots comprising 2,400 shares, requiring an investment of Rs 2,40,000. High Net-Worth Individuals (HNIs) must bid for at least three lots, amounting to an investment of Rs 3,60,000.

The price for the IPO is set at Rs 100 per share.

The Smarten Power Systems IPO will be open for subscription from July 7 to July 9. The allotment of shares is proposed to be finalised on July 10. Shares will be transferred to the demat accounts of successful bidders on July 11 and refunds for non-allottees will be done on the same day.

It is proposed to be listed on the NSE SME platform on July 14.

Both retail investors and Non-Institutional Investors will be offered 47.49% of the issue.

Arihant Capital Markets Ltd. is the book-running lead manager of the Smarten Power Systems IPO. Maashitla Securities Pvt. is the registrar and Arihant Capital Markets Ltd. is the market maker for the issue.

*The subscription status will be updated soon

According to InvestorGain, the grey market premium (GMP) for the Smarten Power Systems IPO was nil as of 9:30 a.m. on July 7. It indicates a potentially flat listing for the offer.

Note: GMP does not represent official data and is based on speculation.

The company designs and assembles products which are used in solar systems. Its products include solar systems, inverters and charge controllers.

Use Of Proceeds

The company will use proceeds from the IPO to meet working capital requirements, clear debt, fund CapEx and for general corporate purposes.

Financials

The company reported a 13.1% year-on-year (YoY) rise in profit after tax (PAT) to Rs 12.77 crore in FY25 from Rs 11.29 crore in FY24. Revenue from operations increased 3.4%YoY to Rs 201.75 crore in FY25 from Rs 195.2 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.