Gurgaon-based inverter maker Smarten Power Systems is set to launch its Rs 50-crore initial public offering for subscription next week on July 7. The offer will close on July 9.
The fixed price IPO comprises fresh issue of 40 lakh shares worth Rs 40 crore, and an offer-for-sale of 9.99 lakh shares worth nearly Rs 10 crore. The offer price has been fixed at Rs 100 per share.
The company will finalise IPO share allotment by the end of July 10. And the trading in Smarten shares will commence on the NSE Emerge effective July 14.
Smarten Power Systems that competes with listed peers like GP Eco Solutions, and Sungarner Energies designs and assembles power back-up and advanced solar power products such as home UPS systems, solar inverters, solar power conditioning units, solar charge controllers. It also trades in solar panels and batteries.
The company intends to utilise fresh issue proceeds for purchase of movable assets of the production line of battery manufacturing unit, and working capital requirements. Further, it will also use fresh issue money for repaying debt, and capital expenditure.
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On the financial front, Smarten has recorded profit at Rs 12.8 crore for the year ended March 2025, growing 13.1 percent and revenue at Rs 201.7 crore, increasing 3.4 percent over the previous year.
Arihant Capital Markets is the sole book running lead manager to the Smarten Power Systems IPO.
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