The IPO consists of a fresh issue of 40.01 lakh equity shares aggregating to Rs 40.01 crore and an offer for sale (OFS) of 10 lakh shares worth Rs 10 crore. Arihant Capital Markets is acting as both the lead manager and market maker for the IPO, which will be listed on the NSE SME platform. The allotment is expected to be finalized by July 10, with shares likely to list on July 14.
Retail investors can bid for a minimum of two lots or 2,400 shares, amounting to Rs 2.4 lakh.
The company is known for designing and assembling a wide range of power solutions under its own brand, Smarten.
Its product portfolio includes home UPS systems, solar inverters, charge controllers, solar panels, and inverter batteries. It operates in 23 Indian states and exports to 17 countries across the Middle East, Africa, and South Asia.
As of May 2025, the company had a distribution network of 382 dealers and 52 service centers, supporting 372 SKUs across six categories. It employs 252 staff across departments.The proceeds from the issue will be used to purchase movable assets for a battery manufacturing unit, meet working capital needs, repay borrowings, and fund capital expenditure. For FY25, the company reported a revenue of Rs 203.2 crore and a net profit of Rs 12.77 crore.
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