Investor Frenzy: Chemkart, Smarten IPOs 5x Oversubscribed!
High demand in the SME sector drives the Chemkart and Smarten Power IPOs, with allotments anticipated by July 10 and listings scheduled for July 14.
Summary:
The initial public offerings (IPOs) of Chemkart India and Smarten Power Systems have seen robust investor participation, each getting subscribed over five times their offer size. Allotment for both issues will be finalised by July 10, with shares set to debut on the BSE SME and NSE Emerge platforms on July 14.
IPO Boom in SME Space: Chemkart India and Smarten Power Systems Shine
The small and medium enterprise (SME) IPO space in India continues to witness strong traction as two recent public issues—Chemkart India and Smarten Power Systems—have both recorded over 5x subscription, signalling elevated investor enthusiasm for promising growth stories in niche sectors.
The subscription window for both IPOs closed recently, and investors are now eagerly awaiting the allotment status, which will be finalised by July 10, 2025. Chemkart India Ltd’s shares are set to be listed on the BSE SME platform, while Smarten Power Systems Ltd will make its debut on the NSE Emerge platform on July 14, 2025.
Chemkart India IPO: Interest Generated by Speciality Chemicals and API Focus
Company Overview:
Chemkart India is a rapidly growing chemical distribution company catering to the Active Pharmaceutical Ingredients (API) and speciality chemicals segment. With a wide customer base and strong supplier partnerships, the company provides critical raw materials for industries ranging from pharmaceuticals to agrochemicals and paints.
IPO Details:
Issue Size: ₹27.04 crore
Price Band: ₹99–₹105 per share
Lot Size: 1,200 shares
Use of Proceeds: Working capital requirements, general corporate purposes, and expansion of warehousing infrastructure.
Investor Response:
The Chemkart IPO was subscribed more than 5.3 times, driven largely by retail investors and HNIs, who accounted for the lion’s share of the bids. The company’s scalable business model, strong financials, and projected revenue growth made it attractive for investors betting on India’s booming chemical and pharmaceutical sectors.
Smarten Power Systems IPO: Riding the Clean Energy Wave
Company Overview:
Smarten Power Systems is a manufacturer of renewable energy products such as solar inverters, batteries, and power backup solutions. The company has witnessed rapid growth amid rising demand for energy-efficient and eco-friendly power solutions, particularly in rural and semi-urban India.
IPO Details:
Issue Size: ₹38.5 crore
Price Band: ₹96–₹102 per share
Lot Size: 1,200 shares
Use of Proceeds: Capital expenditure, R&D, marketing initiatives, and working capital.
Investor Response:
Smarten Power’s IPO was subscribed over 5.7 times, with significant traction from institutional investors betting on the green energy transition. The company’s strong product portfolio, growing distribution network, and alignment with government solar initiatives contributed to the robust response.
What Happens Next: Allotment & Listing Timeline
For both Chemkart and Smarten Power IPOs, the share allotment status is scheduled to be finalised by July 10, 2025. Refunds for shares that were not allotted will be processed by July 11, and the credit for allotted shares in the demat account is anticipated by July 13.
Listing Date for Both IPOs: July 14, 2025
Chemkart India: To be listed on BSE SME
Smarten Power Systems: To be listed on NSE Emerge
Investors should verify the allotment status on the official registrar websites or stock exchange portals.
Market Outlook: Why SME IPOs Are Gaining Traction
The SME IPO sector in India has experienced a revival in investor interest over the last two years. This is fueled by:
Improved financial disclosure norms
High-growth potential of niche companies
Reduced entry barriers for retail investors
Attractive valuations compared to mainboard IPOs
Chemkart and Smarten Power’s oversubscription reaffirms the sentiment that quality SMEs with solid fundamentals and strong growth narratives are capable of delivering multibagger returns post-listing.
Analyst Take:
Market analysts are optimistic about the listing performance of both companies. Given the high demand and investor interest, a robust opening is expected.
“Both companies operate in sectors aligned with structural growth trends—pharma for Chemkart and clean energy for Smarten Power. Post-listing performance will depend on their earnings trajectory and execution capabilities,” said Radhika Seth, a senior equity strategist at an investment firm.
Risks to Watch:
While investor interest is high, experts caution that SME stocks are generally less liquid and more volatile than mainboard stocks. Hence, long-term fundamentals and governance should remain the key drivers of investment decisions.
Conclusion:
The enthusiastic response to Chemkart India and Smarten Power Systems’ IPOs marks yet another successful chapter in India’s growing SME capital market story. With strong fundamentals, favourable sector outlooks, and investor optimism, these companies are poised to attract attention post-listing. However, investors should temper short-term listing expectations with long-term business performance and scalability.
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