Smarten Power Systems IPO commenced on Monday, July 7 and will conclude on Wednesday, July 9. Smarten Power Systems IPO price band has been set at ₹100 per equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,200 equity shares and in multiples of 1,200 shares thereafter.
Smarten Power Systems Limited specializes in the design and assembly of power backup and solar products, which encompass Home UPS systems, solar inverters, power conditioning units, and charge controllers, along with the trading of solar panels and batteries. The Company has a presence across 23 states and two union territories in India and extends its reach to 17 countries globally, including regions like the Middle East, Africa, and South Asia.
Smarten Power Systems manufactures and sells its products under the SMARTEN brand, which is protected by a registered patent. The organisation boasts a diverse inventory of 372 stock-keeping units (SKUs) spread across six categories: home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries. The company operates with a network consisting of 382 distributors and 52 service centers dedicated to after-sales support.
As per the prospectus, the company’s listed peers are GP Eco Solutions Ltd (with a P/E of 42.26 times), and Sungarner Energies Ltd (with a P/E of 40.81).
Smarten Power Systems IPO Subscription Status
Smarten Power Systems IPO subscription status is 11% on day 1, so far, as per chittorgarh.com. The retail portion was subscribed 22%, and NII portion is yet to be booked.
The company has received bids for 5,11,200 shares against 47,49,601 shares on offer, at 17:00 IST, according to data on chittorgarh.com
Smarten Power Systems IPO details
Smarten Power Systems IPO consists of a fresh issue of 37,50,000 equity shares, aggregating to ₹37.50 crore, and offer-for-sale (OFS) consist of 9,99,600 equity shares.
The Smarten Power Systems IPO plans to allocate the funds raised for the following purposes: acquiring movable assets for the battery manufacturing production line; addressing working capital needs; partially or wholly repaying existing debts; financing capital expenditure needs; and supporting general corporate activities.
Arihant Capital Markets Ltd serves as the book-running lead manager for the Smarten Power Systems IPO, and Maashitla Securities Private Limited is the registrar overseeing the issue. The market maker for the Smarten Power Systems IPO is also Arihant Capital Markets Limited.
Smarten Power Systems IPO GMP today
Smarten Power Systems IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹100 with no premium or discount in the grey market according to investorgain.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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