Smarten Power System, a homegrown manufacturer of solar and power backup solutions, is set to raise Rs. 50 crore through its initial public offering (IPO) scheduled from July 7 to July 9. Priced at Rs. 100 per share, the IPO comprises a fresh issue of Rs. 40.01 crore and an offer for sale worth Rs. 10 crore. The proceeds will be deployed toward production line upgrades, working capital, debt repayment, and strategic capital expenditure.