Smarten Power Systems came to market through an SME IPO that opened on 7 July 2025 and closed on 9 July 2025, and the shares listed on 14 July 2025 on NSE SME. The price band was ₹100 per share and one lot was 1200 shares, so the minimum application was ₹1,20,000. The issue size was ₹50 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Maashitla Securities Private Limited was the registrar to the issue, and Arihant Capital Markets Ltd was the lead manager.
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Established in 2014, Smarten Power Systems Limited develops and manufactures power backup and solar products such as Home UPS systems, solar inverters, power conditioning units, and charge controllers, and deals with solar panels and batteries. The Company is present in 23 states and two union territories in India, and has an international presence in 17 countries across the Middle East, Africa, and South Asia.The company manufactures and markets products under the SMARTEN brand and registered patent.
The company boasts a portfolio of 372 SKUs in six categories: home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries.The Company has a network of 382 distributors and 52 service centers for after-sales service. Products: Home UPS Systems Solar Inverters / Solar Power Conditioning Units (PCUs) Solar Charge Controllers Solar Panels Inverter Batteries As of May 31, 2025, there are 252 department employees in the company
As described in the offer document.
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Arun Bhardwaj, Rajnish Sharma, Ravi Dutt, Tirath Singh Khaira. Promoter holding 91.67% before the issue and 67.10% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Smarten Power Systems IPO was a ₹50 crore fixed-price issue, comprising a fresh issue of ₹37.5 crore and an offer for sale of ₹10 crore. It was priced at ₹100 per share with a lot size of 1,200 shares; the minimum retail application was 2,400 shares (₹2,40,000). The IPO was open from July 7 to July 9, 2025. Shares listed on NSE SME on July 14, 2025 at ₹144, a 44.0% premium to the issue price of ₹100.
Maashitla Securities Private Limited is the registrar. Arihant Capital Markets Ltd is the book running lead manager.
The issue price of Smarten Power Systems IPO is ₹100 per share (fixed price).
The lot size of Smarten Power Systems IPO is 1200 shares.
The minimum investment for Smarten Power Systems IPO is approximately ₹1,20,000 based on the issue price.
The allotment date of Smarten Power Systems IPO is Jul 10, 2025.
Smarten Power Systems IPO's final recorded GMP before listing was ₹12 per share (a 12% premium over the ₹100 upper price band). The shares listed at ₹144. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Smarten Power Systems IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Smarten Power Systems IPO allotment status on Rupix for quick and easy access.
₹100 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1200 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,20,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,20,000, for one lot of 1200 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 7 July 2025 and closed on 9 July 2025.
The basis of allotment was published on 10 July 2025 by Maashitla Securities Private Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 14 July 2025 on NSE SME.
The issue size was ₹50 crore. The fresh issue was 37,50,000 shares (aggregating up to ₹37.5 crore). The offer for sale was 9,99,600 shares (aggregating up to ₹10 crore).