About Susan Electricals India IPO
Susan Electricals India IPO Details
Susan Electricals India IPO is a 100% book-built issue of 54 lakh equity shares worth up to ₹70 crore, comprising a fresh issue of 47.80 lakh equity shares worth up to ₹54 crore and an offer for sale (OFS) of 6.20 lakh equity shares worth up to ₹10 crore, with a face value of ₹10 per share. The company filed its DRHP with SEBI on February 28, 2026 and received approval on April 16, 2026.
The price band of the issue is set at ₹120 to ₹127 per share and the official dates of subscription are set from June 11 to 15, 2026, on the BSE SME platform, with the listing date of June 18, 2026. The book-running lead manager of the issue is Seren Capital Pvt. Ltd., while the registrar to the issue is Mudra RTA Ventures Pvt. Ltd.
Susan Electricals India IPO Date & Timeline
The Susan Electricals India IPO is officially set to open for subscription on Jun 11, 2026 and will close on Jun 15, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on February 28, 2026 and has now finalized its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 16, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 17, 2026. Finally, Susan Electricals India Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 18, 2026.
Susan Electricals India IPO Timeline
| IPO Open Date | Thu, Jun 11, 2026 |
| IPO Close Date | Mon, Jun 15, 2026 |
| Basis of Allotment | Tue, Jun 16, 2026 |
| Initiation of Refunds | Wed, Jun 17, 2026 |
| Credit of Shares to Demat | Wed, Jun 17, 2026 |
| Listing Date | Thu, Jun 18, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Susan Electricals India IPO Details
| Detail | Description |
|---|---|
| IPO Date | 11 to 15 Jun, 2026 |
| Listing Date | 18 Jun, 2026 |
| Face Value | ₹ 10 Per Equity Share |
| Issue Price Band | ₹ 120 to ₹ 127 |
| Lot Size | 1,000 Shares |
| IPO Type | Fresh Issue + Offer For Sale |
| Total Issue Size | 55,42,000 shares (agg. up to ₹ 70 Cr) |
| Reserved for Market Maker | 4,58,000 shares (agg. up to ₹ 6 Cr) |
| Fresh Issue(Ex Market Maker) | 42,84,000 shares (agg. up to ₹ 54 Cr) |
| Offer for Sale | 8,00,000 shares of ₹10 (agg. up to ₹ 10 Cr) |
| Net Offered to Public | 50,84,000 shares (agg. up to ₹ 65 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,55,88,795 shares |
| Share Holding Post Issue | 2,03,30,795 shares |
Susan Electricals India IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Susan Electricals India IPO GMP is currently trading at ₹43, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹170, which is 33.86% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Susan Electricals India GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 19 Jun 2026 | ₹127 | ₹43 | 19 Jun, 202610:00 AM |
| 18 Jun 2026 | ₹127 | ₹43 | 18 Jun, 202610:36 AM |
| 17 Jun 2026 | ₹127 | ₹46 | 17 Jun, 202612:25 PM |
| 16 Jun 2026 | ₹127 | ₹43 | 16 Jun, 202610:35 AM |
| 15 Jun 2026 | ₹127 | ₹54 | 16 Jun, 202610:35 AM |
| 14 Jun 2026 | ₹127 | ₹62 | 16 Jun, 202610:35 AM |
| 13 Jun 2026 | ₹127 | ₹50 | 15 Jun, 202612:19 PM |
| 12 Jun 2026 | ₹127 | ₹53 | 12 Jun, 202611:29 AM |
| 11 Jun 2026 | ₹127 | ₹41 | 11 Jun, 202609:53 AM |
| 10 Jun 2026 | ₹127 | ₹25 | 10 Jun, 202609:48 AM |
| 9 Jun 2026 | ₹127 | ₹25 | 9 Jun, 202604:04 PM |
| 08 Jun, 2026 | ₹127 | ₹0 | 08 Jun, 202609:50 AM |
Company Background
Susan Electricals India Ltd. was incorporated on December 10, 2007, as a private limited company under the National Capital Territory of Delhi and Haryana; then, on December 05, 2025, the company transformed into a public limited company to proceed with its public listing procedure.
The company has been in operation for the past 19 years (almost 2 decades), with its operational units in Delhi and Ghaziabad; it has managed to grow from its foundational roots in commercial electrical insulation into an established player in the Indian industrial landscape.
Operations & Product Range
Susan Electricals India Ltd. is dedicated to producing and selling various types of electrical wires and cables. With the help of its innovative manufacturing systems, the organisation can provide customised products for highly stressed electrical applications for the industrial sector, as well as for the consumer market. The range of products offered by the company includes insulated wires, industrial cables and customised wiring products that are safe according to the requirements of the country’s safety standards.
Facilities & Capacity
The operational infrastructure supporting Susan Electricals India Ltd. is structured around its strategic administrative and production setups in CP, New Delhi, while managing its core business operations from the corporate facility located at Ghaziabad, Uttar Pradesh. These locations serve as the primary hubs for supply chain coordination, production planning, quality assurance management and regional distribution frameworks.
Brands & Market Presence
Susan Electricals India Ltd. operates its diverse line of products under the primary corporate brand identity "Susan Wires & Cables," establishing a remarkable presence across key regional business hubs. The firm operates with a strong domestic footprint, delivering specialised electrical products to commercial, public infrastructure and residential construction markets. To maintain its positioning in a highly regulated sector, the business secures technical certifications and industry-standard approvals that validate the quality and safety profiles of its wiring and cabling portfolios. This formal compliance assists the firm in cementing long-term associations with institutional clients and retail distribution intermediaries across its operational territories.
Revenue Streams & Business Model
The primary revenue generation of Susan Electricals India Ltd. is through the direct sale of industrial cables, commercial wires and specialised electrical insulation products. Revenue generation is sustained by continuous product delivery contracts and structured commercial order fulfilment loops.
The business model followed by the company utilises a mix of direct institutional sales to large infrastructure projects alongside a growing merchant network to capture widespread commercial demand. Segmented asset utilisation and geographic revenue spreads reflect a strong concentration within the domestic Indian market, capturing industrial development trends across both metropolitan centres and expanding tier-2 urban zones.
Management & Shareholding
The promoters of Susan Electrical India Ltd. are Vishal Jain and Mahak Jain. Before the IPO, the promoters held a 96.64% stake and 3.36% stake of the company was held by the top 10 shareholders of the company, but after the IPO, the promoters’ shareholding will be diluted as the offering includes 6.20 lakh shares in OFS by existing shareholders. The existing shareholders of the company will continue holding the major decision-making power in the company.
Board & Key Management
The leadership of Susan Electricals India Ltd. is led by a team of experts with many years of experience. Vishal Jain serves as the Chairman & Managing Director and gives strategic direction to the firm, with the daily operations management along with Whole-Time Directors Vinod Kumar Pujari and Lalit Sharma. To ensure good governance, the board includes Independent Directors Sushil Kumar Poddar and Sonal Jain for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
Susan Electricals India IPO Financial Information
Latest Revenue
269.36
₹ Crore
Profit After Tax
18.25
₹ Crore
Net Worth
38.48
₹ Crore
Total Borrowing
66.72
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | 130.05 | 269.36 | 18.25 | 38.48 | 22.89 | 66.72 | |||
| 31 Mar 2025 | 73.68 | 135.74 | 5.65 | 17.98 | 12.96 | 45.27 | |||
| 31 Mar 2024 | 38.08 | 103.48 | 0.76 | 6.21 | 3.23 | 24.79 | |||
| 31 Mar 2023 | 33.58 | 77.34 | 0.4 | 3.28 | 1.03 | 14.71 | |||
| Amount in ₹ Crore | |||||||||
Susan Electricals India Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 64.64 % |
| ROCE | 29.05 % |
| RoNW | 47.42 % |
| PAT Margin | 6.77 % |
| EBITDA Margin | 11.91 % |
| Price to Book Value | 5.15 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.7 | 8.97 |
| P/E (x) | 10.85 | 14.15 |
Susan Electricals India IPO Objectives
The company intends to utilise the Susan Electrical India IPO proceeds for strategic purposes:
- • Funding the capital expenditure for the expansion of manufacturing facilities.
- • Funding the working capital requirements.
- • General corporate purposes.
Susan Electricals India IPO Review
Susan Electricals India Ltd. occupies a clear operational position within the highly competitive domestic wires and cables sector. The firm benefits from an established corporate history tracing back to 2007, giving it an operational background in navigating shifting regulatory norms and industrial requirements in the Indian electrical manufacturing landscape. Its strategic transition to a public Ltd. company highlights an internal push to tap institutional capital fields to fuel future market expansion.
Financially, the company has shown growing and healthy financial statements; as for FY25, the total income was reported at ₹136.05 crore and the PAT was at ₹5.65 crore, with an EBITDA of ₹12 crore. Notably, the top 10 customers contributed around ₹130.23 crore, which is nearly 95% of the total revenue from operations.
However, potential investors must consider risk components typical of the manufacturing sector, such as raw material price volatility, particularly for key inputs like copper and aluminum, which directly impact operating margins; also, the revenue issue as the top 10 customers contributed around 95.94% in FY25, is questionable as the major revenue portion depends on the top customers and it can impact the total income of the company.
Overall, this IPO presents an opportunity to observe how a scaled regional electrical goods manufacturer leverages a formal exchange listing to improve its corporate profile; also, the company will rely heavily on its capability to deploy the fresh capital efficiently while defending its market position against larger industry competitors.
Conclusion
Susan Electricals India IPO is an opportunity for investors to invest in a growing company that has systematically evolved over the past two decades. With a stable foundation built around its core industrial offerings, the company remains positioned to capture unfolding opportunities within India's broader urban infrastructure and power distribution sectors. With this listing, the company mainly focuses on the expansion of its manufacturing units and working capital requirements for smooth operational activities.
Frequently Asked Questions
Recommended Advisory Services
Ready to take your company public? Explore our specialized IPO advisory services tailored for Indian enterprises.
The India IPO Publication is managed by an editorial team that includes highly experienced finance journalists, market researchers and professionals from the capital markets industry who strive to create high-quality content based on credible sources. Our editors write about IPOs, capital markets, corporate news, capital-raising strategies, regulations and other business matters to ensure our audience stays updated with the latest information. We conduct detailed research and fact-check all information before publishing any content to ensure credibility.
Competitive Strengths
Deep manufacturing expertise and industrial standards knowledge developed through consistent operations since 2007, with a long-standing operational history.
Established a brand portfolio by creating a clear market presence and customer trust cultivated via the specialised "Susan Wires & Cables" product segment.
Experienced core leadership that helps in determining the main decisions and ensures corporate governance.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2000 | 254000 |
| Individual investors (Retail) (Max) | 2 | 2000 | 254000 |
| S-HNI (Min) | 3 | 3000 | 381000 |
| S-HNI (Max) | 7 | 7000 | 889000 |
| B-HNI (Min) | 8 | 8000 | 1016000 |