&w=3840&q=100)
Smarten Power IPO to open on Jul 7, sets issue price band at ₹100/share
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 ₹40.01 crore and an offer for sale of 10 lakh shares aggregating to ₹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 ₹203.20 crore and a profit after tax of ₹12.77 crore in FY25.
Arihant Capital Markets is the sole book-running lead manager, and Maashitla Securities is the registrar for the IPO.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
2 hours ago
- Indian Express
After Jane Street crackdown, Sebi scrutinising other high-frequency traders
After taking action against US-based proprietary trading firm Jane Street for allegedly using manipulative trading strategies, market regulator Sebi has now turned its focus to other foreign high-frequency trading (HFT) firms operating in India. The regulator is closely examining their trading patterns in the domestic stock markets to determine whether similar questionable strategies were used, according to sources. This move signals the regulator's intent to tighten oversight of complex algorithm-driven trading, especially by global players who account for a significant chunk of the volumes in India's derivatives market. The regulator has asked NSE and BSE to analyse trades of these foreign HFT and quant firms, a source said. 'Sebi is looking into the transactions of other large foreign high-frequency trading (HFT) companies and quantitative trading firms to ascertain if they also behaved in a similar manner. It is difficult to say when, whether and what action will be taken,' said the source. Emails sent to the Sebi, NSE and BSE did not elicit any response. On July 3, Jane Street group was barred by the Securities and Exchange Board of India (Sebi), for allegedly indulging in trading patterns which raised serious concerns over market integrity, particularly around the expiry of index derivatives. Some of the big algo trading firms operating in the domestic market include Millennium Management, US-based Citadel Securities, Alphagrep Securities and Tower Research Capital. Last week, Sebi Chairman Tuhin Kanta Pandey said that the Jane Street case was a surveillance issue and the markets regulator was keeping a track of it. Market participants, however, believe that the Sebi would tread carefully as it would not like to scare away foreign HFT and quant firms, who play an important role in providing liquidity in the market. 'They will have to act in a balanced manner, as any stern action would mean volumes will dry up. There could be an impact on the liquidity or depth of the Indian market, which may not be good from the point of view of inviting foreign players,' said a trader. Sebi examined the aggregate profit/loss made by the Jane Street group for the period January 1, 2023 to March 31, 2025. In its investigation, Sebi found that the Bank Nifty index — a major index of the securities market comprising 12 stocks of India's major banks — has prima facie been manipulated in a complex and illegal manner aided by JS Group's immense trading, financial and technological prowess. JS group deployed two unauthorised proprietary trading strategies — intraday index manipulation and extended marking the close, the regulator said in the interim order. The group allegedly made a profit of Rs 36,502.12 crore during the period of investigation. The regulator has ordered the impounding of Rs 4,843.57 crore of unlawful gains made by the group through manipulative trading. One of the fallouts of barring Jane Street group from the domestic securities market will be a drop in F&O volumes, market participants said. 'Every event has an immediate impact and so the volume will get impacted,' said a broker. The space left by Jane Street will be filled up by some other player. Traders said that while it is difficult to say whether the decline in volume will be fully recouped or not, the impact on trading volume will gradually become less.
Mint
3 hours ago
- Mint
Titan sees 20 pc revenue growth in April-June despite softening of purchase in jewellery division
New Delhi, Jul 8 (PTI) Tata group's jewellery and watchmaking brand Titan has reported a 20 per cent growth in its standalone revenue in the June quarter of FY26, according to the latest quarterly updates by the company. Its jewellery division, which contributes over 80 per cent of its revenue, reported an 18 per cent growth on a year-on-year basis. However, "gold price volatility" has affected the consumer sentiments and "buyer growth was flat" for its flagship brands Tanishq, Mia and Zoa (TMZ) brand and CaratLane, the company said. "In the high gold rate scenario, customers preferred light-weight and lower karatage jewellery. The studded ratio came in lower YoY, driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits," it said on Monday. Nevertheless, the Akshaya Tritiya period, which was during the April-June quarter, saw good traction, said Titan. "The like-to-like (L2L) domestic sales growth in TMZ was in early double digits, driven entirely by ticket size growth across formats," it said. During the quarter, Titan added 19 new stores in India, in which three were in Tanishq, seven in Mia and nine in CaratLane, respectively. For Titan, the jewellery division is the main contributor to its topline. In FY25, revenue from the operations of Titan, a joint venture between Tata group and the Tamil Nadu government, was at ₹ 57,339 crore, in which its jewellery division contributed ₹ 46,571 crore, which is over 81 per cent. Its domestic watch business clocked a strong growth of 23 per cent YoY. This was led by analogue watches, driven by both volume and value growth. The division added nine new stores -- four in Titan World and five in Helios. In the eye care segment, though Titan grew by 12 per cent YoY in the first quarter of FY26, it closed 32 stores during the period. "Titan Eye retail opened 12 new doors and closed 32 stores resulting in 20 domestic store closures (net) for the quarter," it said. In the emerging businesses, Titan's fragrances vertical grew 56 per cent YoY led by volume growths in SKINN and Fastrack, women's bags grew 61 per cent. Its Indian dresswear business Taneira grew by 15 per cent YoY driven by value growth in sarees. Over its international business, Titan said it grew by 49 per cent YoY led by near doubling of Tanishq's business in the US market. Shares of Titan Company on Tuesday tumbled over 6 per cent, eroding its market valuation by ₹ 20,086.15 crore to ₹ 3,05,451.71 crore. The stock dropped 6.17 per cent to ₹ 3,440.60 apiece on the BSE. On the NSE, it tanked 6.16 per cent to ₹ 3,440.
Economic Times
3 hours ago
- Economic Times
Stock market update: Nifty Realty index advances 0.99%
MACD is known for signaling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. Synopsis The Nifty Realty index closed 0.99 per cent up at 982.35. NEW DELHI: The Nifty Realty index closed on a positive note on Tuesday. ADVERTISEMENT Shares of Brigade Enterprises Ltd.(up 2.69 per cent), Prestige Estates Projects Ltd.(up 1.76 per cent), Phoenix Mills Ltd.(up 1.63 per cent), DLF Ltd.(up 1.25 per cent) and Anant Raj Ltd.(up 1.23 per cent) ended the day as top gainers in the pack. On the other hand, Lodha Developers Ltd.(down 0.18 per cent) finished as the top losers of the day. The Nifty Realty index closed 0.99 per cent up at 982.35. Benchmark NSE Nifty50 index ended up 61.21 points at 25522.5, while the BSE Sensex stood up 270.01 points at 83712.51. Among the 50 stocks in the Nifty index, 26 ended in the green, while 24 closed in the red. ADVERTISEMENT Shares of JP Power, Vodafone Idea, Alok Industries, RattanIndia Power and PC Jeweller were among the most traded shares on the NSE. Shares of Sambhv Steel Tubes, Belrise Industries, Parsvnath Dev., Gabriel India and Ellenbarrie Ind. Gas hit their fresh 52-week highs in today's trade, while Nectar Lifesc, PVP Ventures Ltd., Sadhana Nitro, Creative Peripherals and Anisha Impex hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
