Smarten Power Systems IPO set to list today. GMP signals healthy premium

Synopsis

Smarten Power Systems is set to list on the NSE SME platform on July 14, following a fully subscribed Rs 50 crore IPO. The IPO, priced at Rs 100 per share, saw strong interest, with shares already credited to investor accounts.

Smarten Power Systems is set to make its debut on the NSE SME platform on July 14 following a successful Rs 50 crore IPO that closed on July 9. The fixed-price issue, which was entirely subscribed, included a fresh issue of Rs 40 crore and an offer for sale of Rs 10 crore, priced at Rs 100 per share.

Ahead of its listing, the stock is commanding a GMP of around Rs 15, indicating a potential 15% upside over the issue price. This suggests a likely listing in the Rs 115 range, assuming market conditions remain stable.

The IPO was subscribed across both retail and HNI categories, each allocated nearly 47.5% of the issue. The allotment was finalized on July 10, with shares already credited to investor demat accounts.

Founded in 2014, Smarten Power Systems is a Delhi-based company engaged in the design and assembly of power backup and solar energy products. Its portfolio includes home UPS systems, solar inverters, solar charge controllers, solar panels, and batteries—sold under the “Smarten” brand across 23 Indian states and two union territories, along with exports to 17 countries.

The company operates through 382 distributors and 52 service centers, offering an extensive range of 372 SKUs. Its strength lies in its R&D capabilities, supply chain efficiency, and a robust after-sales network.

Financially, Smarten Power Systems reported a 13% growth in PAT in FY25 and healthy profitability metrics with a return on equity (ROE) of 39.72%.

The IPO proceeds are earmarked for purchasing battery manufacturing assets, working capital, debt repayment, and capex funding—all aimed at supporting future growth.

With a GMP of 15%, moderate valuations, and a strong position in the clean power and backup segment, the stock is expected to draw interest on debut, particularly from investors betting on the rising solar and residential power solutions market.

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