Smarten Power Systems IPO set to open on Monday: Check GMP, price, other key details of the SME IPO
According to market sources, the latest grey market premium (GMP) of Smarten Power Systems shares was nil, which indicates the stock could be listed at par with the issue price.
The SME IPO will be for subscription on Monday, July 7, and conclude on Wednesday, July 9.
The price of the SME IPO has been fixed at ₹ 100 per equity share.
Smarten Power Systems intends to raise ₹ 50 crore from the issue, which it will use to purchase assets of the battery manufacturing unit's production line, meet working capital requirements, repay some borrowings, and/or for general corporate purposes.
Arihant Capital Markets Ltd is the book-running lead manager, while Maashitla Securities Private Limited is the registrar for the issue.
Bidders can apply in lots, and one lot of the NSE SME IPO comprises 2,400 company shares.
Nearly 47.5 per cent of the net issue is reserved for retail investors, while the same amount is reserved for NIIs. The remaining 5 per cent is reserved for market makers.
The IPO is closing on Wednesday, July 9, so as per SEBI's listing rules, the company is expected to finalise the share allotment on Thursday, July 10. Successful bidders can expect shares of the company in their demat accounts on Friday, July 11, and bidders who fail to get the allocation may get the refund on the same day.
As per SEBI's T+3 rule of IPO listing, the SME IPO is proposed for listing on the NSE SME on Monday, July 14.
Smarten Power Systems designs and assembles power back-up and advanced solar power products such as home UPS systems, solar inverters, solar power conditioning units (PCUs), and solar charge controllers. It also trades solar panels and batteries.
According to the company's DRHP, it generates approximately 66.51 per cent of its revenue through domestic sales and 33.49 per cent of its revenue through exports.
Currently, the company operates in 23 states and two union territories within India and has also established a global footprint in over 17 countries, including the Middle East, Africa, and the South Asia region.
The company's profit for FY22 was nearly ₹ 4 crore, which rose to nearly ₹ 5.2 crore in FY23 and ₹ 11.3 crore in FY24. In FY25, for the period ended June 30, the profit stood at ₹ 4.05 crore.
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