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PNN
Mumbai (Maharashtra) [India], July 7: Smarten Power System Limited (The Company, Smarten) is engaged into designing and assembling of power back-up and solar power products, proposes to open its Initial Public Offering on Monday, July 07, 2025, aiming to raise 50.00 crores, with shares to be listed on the NSE Emerge platform. The issue will close on Wednesday, July 09, 2025. The issue size is 50,00,400 equity shares at a face value of 10 each with IPO price of 100 per share. Equity Share Allocation * Non-Retail Investors - 23,74,800 Equity shares * Retail Individual Investors - 23,74,800 Equity shares * Market Maker Portion - 2,50,800 Equity shares The net proceeds from the IPO will be utilized for purchase of movable assets of the production line of battery manufacturing unit, working capital requirements, Repayment in full or in part, of outstanding borrowings, funding capital expenditure requirements and for general corporate purposes. The Lead Manager to the Issue is Arihant Capital Markets Limited and The Registrar to the Issue is Maashitla Securities Private Limited. Mr. Arun Bhardwaj, Managing Director of Smarten Power System Limited expressed "Our company has steadily grown by focusing on practical solutions in the power backup and solar energy space. Over the years, we've built capabilities that allow us to meet customer needs across both domestic and international markets. 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." Mr. Ashok Kumar Jain, Chairman & Managing Director of Arihant Capital Markets Limited said, "We are pleased to be associated with the company in its IPO journey. The company has shown consistent growth, a clear business focus, and an established presence in the power backup and solar energy segments. This IPO will enable the company to enhance its manufacturing capabilities, improve efficiency, and gradually expand its market reach. Given the sector's evolving dynamics and the company's strategic direction, we believe it is well-placed for its next phase of development." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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