Smarten Power Systems Limited IPO

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Smarten Power Systems Limited is an Indian power solutions company specializing in the design, assembly, and distribution of solar energy and power-backup products. With a balanced revenue mix between domestic (66.5%) and export markets (33.5%), the company has established a strong presence across 23 Indian states and 17 international countries.

Product Portfolio

Smarten offers a wide range of energy solutions, including Home UPS Systems, Solar Inverters & Power Conditioning Units (PCUs), Batteries, Solar Panels, Solar Charge Controllers.

The company currently has over 372 SKUs catering to residential, commercial, and industrial segments.

Manufacturing & Infrastructure

i) Existing Operations: Smarten currently operates a 22,500 sq. ft. assembling unit and a 7,500 sq. ft. warehouse in Gurugram, with a daily production capacity of 600 units.

ii) Expansion Plans: A new 3,892 sq. m. facility is under construction in MET, Jhajjar (Haryana), expected to be operational by H1 FY26, doubling the production capacity to 1,200 units/day.

iii) Recent Acquisition: Movable battery manufacturing line from Su-Urja Solar Systems for ₹418.9 lakh.

Geographical Revenue Split

In FY24, Smarten Power Systems Limited generated ₹195.19 crore in revenue, with ₹125.52 crore (64.30%) coming from the domestic market and ₹69.68 crore (35.70%) from exports. The company’s major export destinations include the Middle East, West Africa, Nepal, and the UAE, highlighting its strong international presence and growing global footprint.

Distribution & After-Sales Network

Smarten has built a strong distribution and after-sales network with 347 distributors, 49 service centers, and 73 in-house service engineers across India. Internationally, it operates through 33 distributors, each generating an average revenue of over ₹2 crore. The company plans to expand further into Zambia, Burundi, and Burkina Faso. Its customer-centric approach includes 24/7 customer care and efficient on-site service support, enhancing reliability and customer satisfaction globally.

Group Structure

Smarten Power Systems Limited has one subsidiary, Smart Store International Pvt. Ltd., which is engaged in the online and offline retailing of solar and power backup products. Additionally, it has a group company, Nitant Global Pvt. Ltd., which operates in the food and beverage segment.

Key Strengths

i) Wide product portfolio with over 372 SKUs
ii) Strong North India market presence (95% of domestic revenue)
iii) Focused R&D and patented product innovations
iv) Expanding manufacturing and global footprint
v) Robust after-sales support and distributor relationships

Objects of the Smarten Power Systems Limited IPO:

The Proceeds from the Fresh Issue will be utilized towards the following objects: 1. Purchase of movable assets of the production line of battery manufacturing unit (₹4.18 cr) 2. To meet the working capital requirements (₹22 cr) 3. Repayment in full or in part, of our outstanding borrowings (₹0.95 cr) 4. Funding capital expenditure requirements (₹4.46 cr) 5. General corporate purposes
DRHP of Smarten Power Systems Limited IPO

Smarten Power Systems Limited IPO Details:

Open Date: Jul 07 2025
Close Date: Jul 09 2025
Total Shares: 50,00,400
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 50 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 100 Per Equity Share
Listing At: NSE Emerge

Promoters And Management:

1. Arun Bhardwaj, 43, is the Promoter and Managing Director of the company, associated since September 2014. He holds a B.Tech in Electronics & Telecommunication, an MBA, and a diploma in Industrial Electronics. With over 20 years of engineering experience, he previously worked with Su-Kam Power Systems and Krishna Maruti. He is also a director at Smart Store International and Nitant Global. 2. Rajnish Sharma, 40, is the Promoter, Whole-Time Director, and CEO, associated since the company’s incorporation in July 2014. He holds a diploma in Electronics & Communication Engineering and has 22 years of experience in the power-backup industry, including time at Su-Kam. He also serves as a director at Smart Store International and Nitant Global. 3. Ravi Dutt, 46, is the Promoter and Whole-Time Director, associated since November 2014. He holds a diploma in Electronics & Communications and has over 21 years of experience in the power-backup sector. He has worked with Su-Kam, Delta Power Solutions, and Integrated Technologies. He is also a director at Nitant Global.

Financials of Smarten Power Systems Limited IPO: 

To be Updated Shortly

Comparison With Peers:

To be Updated Shortly

Lead Manager of Smarten Power Systems Limited IPO:

  1. Arihant Capital Markets Limited

Registrar of Smarten Power Systems Limited IPO:

  1. Maashitla Securities Pvt. Limited

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