Latest news with #ArunBhardwaj
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Business Standard
6 days ago
- Business
- Business Standard
Solid debut! Smarten Power Systems lists at 44% premium, hits upper circuit
Smarten Power Systems IPO listing today: Shares of Smarten Power Systems made a solid debut on the NSE SME today, Monday, July 14, 2024, continuing their upward momentum to hit the upper circuit within minutes of listing. Smarten Power Systems shares were listed at ₹144 apiece, representing a 44 per cent premium over the issue price of ₹100 per share. After listing, the shares gained an additional 5 per cent, surging a total of 51.2 per cent from the issue price to reach the upper circuit of ₹151.20 on the NSE SME. During the session, nearly 3.22 million shares, valued at ₹47.04 crore, were traded before trading was halted. The Smarten Power Systems IPO listing outperformed grey market expectations. Prior to the debut, its unlisted shares were trading at around ₹115 in the grey market, indicating a grey market premium (GMP) of ₹15 or approximately 15 per cent over the issue price, according to sources tracking unofficial market activity. Smarten Power Systems IPO Details The Smarten Power Systems IPO comprised a fresh issue of 4 million equity shares aggregating to ₹40 crore and an Offer for Sale (OFS), with promoters Arun Bhardwaj, Rajnish Sharma, Ravi Dutt, and Tirath Singh Khaira divesting up to 1 million equity shares worth ₹10 crore. The public offering was available for subscription from Monday, July 7, to Wednesday, July 9, at ₹100 per share, with a lot size of 1,200 shares. The public issue received decent demand from investors, getting oversubscribed by 5.26 times by the end of the subscription period, as per NSE data. The basis of allotment for Smarten Power Systems IPO shares was finalised on Thursday, July 10. Smarten Power Systems will not receive any proceeds from the OFS. "Each of the selling shareholders will be entitled to their respective proportion of the proceeds from the Offer for Sale, after deducting their portion of the offer-related expenses and applicable taxes," the company stated in its Red Herring Prospectus (RHP). However, the company proposes to utilise the proceeds from the fresh issue for the purchase of movable assets for the production line of its battery manufacturing unit, repayment (in full or in part) of outstanding borrowings, and to meet working capital requirements. The company will also use the proceeds to fund capital expenditure requirements and for general corporate purposes. About Smarten Power Systems Smarten Power Systems is engaged in the design and assembly of power backup and advanced solar power products, such as home UPS systems, solar inverters, solar power conditioning units (PCUs), and solar charge controllers. The company is also involved in the trading of solar panels and batteries. Currently, it operates in 23 states and 2 union territories within India, and has established a global footprint in over 17 countries, including regions in the Middle East, Africa, and South Asia.
Time of India
06-07-2025
- Business
- Time of India
Smarten Power Systems IPO opens on July 7; price band fixed at ₹100/share
Smarten Power System on Sunday said it has fixed the price at ₹100 per equity share for its ₹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 ₹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.
Time of India
06-07-2025
- Business
- Time of India
Smarten Power Systems IPO opens on July 7; price band fixed at Rs 100/share
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks with Growth Potential Seeking Alpha Read Now Undo 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. Live Events "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.
Economic Times
06-07-2025
- Business
- Economic Times
Smarten Power Systems IPO opens on July 7; price band fixed at Rs 100/share
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. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Markets 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 IPO will conclude on July 9, and the shares will be listed on the NSE's Emerge, Smarten Power System said in a 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 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 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, 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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Business Standard
06-07-2025
- Business
- Business Standard
Smarten Power IPO to open on Jul 7, sets issue price band at ₹100/share
Smarten Power System on Sunday said it has fixed the price at ₹100 per equity share for its ₹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 ₹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.
