Smarten Power Systems IPO opens on July 7; price band fixed at Rs 100/share
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Smarten Power System on Sunday said it has fixed the price at Rs 100 per equity share for its Rs 50-crore initial public offering IPO ) that will open for subscription on July 7.The IPO will conclude on July 9, and the shares will be listed on the NSE's Emerge, Smarten Power System said in a statement.The IPO is a combination of a fresh issue of up to 40.01 lakh equity shares aggregating to Rs 40.01 crore and an offer for sale of 10 lakh shares aggregating to Rs 10 crore.Proceeds from the fresh issue will be utilised for the purchase of movable assets of the production line of battery manufacturing unit, working capital requirements, repayment of debt, funding capital expenditure requirements and general corporate purposes.Incorporated in 2014, Smarten Power Systems designs and assembles power backup and solar products, including home UPS systems, solar inverters, power conditioning units, and trades solar panels and batteries."This IPO marks an important milestone in our growth journey, providing us the opportunity to build on our existing foundation and move forward with greater focus and scale. It is aimed at strengthening our production infrastructure and improving operational efficiency."It will support our efforts to adapt to evolving energy demands through focused product development and wider market access, said Arun Bhardwaj, Managing Director of Smarten Power System, said.The company reported a revenue of Rs 203.20 crore and a profit after tax of Rs 12.77 crore in FY25. Arihant Capital Markets is the sole book-running lead manager, and Maashitla Securities is the registrar for the IPO.
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