Susan Electricals India IPO- Company Analysis
Susan Electricals India IPO under the SME IPO category is a bookbuild issue of Rs. 70.38 Cr by Susan Electricals India Limited and is creating power cables, conductors, and electrical winding wires made of copper and aluminum in a range of sizes, combinations, and standards.
Aluminum stranded conductors used in overhead power distribution networks and winding wires and strips used in transformers, motors, alternators, coils, and other electrical equipment are among the products offered by the company.
Additionally, the company produces power cables, including high tension (HT) cables used in higher-grade power distribution systems and low tension (LT) cables such as PVC and XLPE insulated cables (up to 1.1 kV) and Low Tension Aerial Bunched (LT AB) cables.
State-owned electricity distribution utilities (DISCOMs), infrastructure and EPC firms, and corporations in the electrical wires, cables, and conductors market are its main clients.
Susan Electricals India IPO Details
The Susan Electricals India IPO date of opening is 11 Jun 2026, its initial public offering will end on 15 Jun, IPO allotment on Jun 16 and refund initiation on Jun 17, 2026.
The Rs. 70.38 crore new SME IPO comprises a combination of fresh issue of 0.47 crore shares (Rs. 60.22 Cr) and offer for sale of 0.08 crore shares (Rs. 10.16 Cr).
The Susan Electricals India IPO listing date (expected) might be Thursday, Jun 18, 2026, and listing at the BSE and SME.
The Susan Electricals India IPO price band is Rs. 120 to Rs. 127.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Jun 11, 2026 |
|
IPO Closing Date |
Jun 15, 2026 |
|
IPO Allotment Date |
Jun 16, 2026 |
|
Refund Initiation |
Jun 17, 2026 |
|
IPO Listing Date |
Jun 18, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
130.05 |
73.68 |
38.08 |
|
Total Income |
269.96 |
136.05 |
103.59 |
|
Profit After Tax |
18.25 |
5.65 |
0.76 |
|
EBITDA |
32.08 |
12.00 |
3.64 |
|
Net Worth |
38.48 |
17.98 |
6.21 |
|
Reserves and Surplus |
22.89 |
12.96 |
3.23 |
|
Total Borrowing |
66.72 |
45.27 |
24.79 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
(971.42) |
(1,839.33) |
(549.22) |
|
Net Cash Flow Investing Activities |
(755.92) |
(406.65) |
(456.93) |
|
Net Cash Flow Financing Activities |
1,715.08 |
2,308.54 |
1,029.43 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Funding of Capital expenditure towards the expansion of the existing Manufacturing Facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh. ~ Rs. 10.29 Cr.
-
Funding of Working Capital Requirements. ~ Rs. 33 Cr.
-
General Corporate Purposes.
Listed Peers of Susan Electricals India Ltd.
|
Name of Company |
Face Value (Rs. ) |
Basic EPS (₹) |
PE Ratio (x) |
|
Prime Cable Industries Limited |
5 |
6.68 |
16.77 |
|
Divine Power Energy Limited |
10 |
10.83 |
46.35 |
|
V-Marc India Limited |
10 |
40.97 |
27.90 |
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
64.64% |
|
ROCE |
29.05% |
|
RoNW |
47.42% |
|
PAT Margin |
6.77% |
|
EBITDA Margin |
11.91% |
|
Price to Book Value |
5.15 |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 11.96 from the last year, the resulting P/E ratio is 10.61x.
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IPO's Strengths
-
DISCOM-approved multi-state vendor registrations.
-
Strong access to prospects for utility and government contracts.
-
Ideally situated to profit from rural electrification and RDSS initiatives.
-
Established requirements for quality compliance and technical skills.
IPO's Weaknesses
-
High Client Concentration
-
If accounts are lost.Tender-Driven Business Model
-
Uncertainty.Raw Material Volatility.
Susan Electricals India IPO GMP (Grey Market Premium)
Susan Electricals India IPO GMP today is Rs. 25 as of 09 June 2026, while writing this information.
Susan Electricals India IPO Summary
|
IPO Opening & Closing Date |
11 Jun, 2026 to 15 Jun, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 120 to Rs. 127 per Share. |
|
Lot Size |
1000 Shares |
|
Issue Size |
55,42,000 Shares (Rs. 70 Cr) |
|
Offer for Sale |
8,00,000 Shares (Rs. 10 Cr) |
|
Fresh Issue |
42,84,000 Shares (Rs. 54 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Book build Issue |
|
Registrar |
Mudra RTA Ventures Private Limited |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (2000 Shares) for Rs. 2,54,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3000 Shares) for Rs. 3,81,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Susan Electricals India IPO Allotment Status
To check the Susan Electricals India IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Susan Electricals India Ltd.
-
Vishal Jain
-
Mahak Jain
|
Pre-Issue Promoter Shareholding |
92.47% |
|
Post-Issue Promoter Shareholding |
66.97% |
IPO Lead Managers
Seren Capital Pvt. Ltd.
Dividend Policy
The company has not paid a dividend during the last three financial years.
Conclusion
Susan Electricals India IPO offers investors exposure to the growing power cables, conductors, and electrical infrastructure sector. With strong FY2026 revenue growth, improved profitability, and expansion plans, the SME IPO shows notable growth potential.
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Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
