Susan Electricals India SME: Check IPO Date, Live Subscription and Key Details
Susan Electricals India Limited, incorporated in 2007, is an established manufacturer specializing in aluminium and copper-based electrical winding wires, stranded conductors, and power cables. The company's diversified product portfolio features high-specification winding wires and strips utilized across transformers, industrial motors, alternators, and coils. It also engineers low-tension (LT) and high-tension (HT) power distribution cables (up to 1.1 kV, including Aerial Bunched lines) for electrical transmission grids. Operating from three manufacturing units inside Ghaziabad, Uttar Pradesh, the company chiefly caters to state-owned electricity distribution utilities (DISCOMs), large infrastructure builders, and EPC enterprise clients across multiple Indian states.
Price Range
₹120.0 - ₹127.0
Issue Size
₹70.38 Cr
Lot Size
0 shares
IPO Type
BSE SME
GMP
-
Est. Listing Price
₹127
Estimate Profit
-
Retail Portion
35.01%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
5.19
P/E Ratio
24.47
RoNW
28.15%
ROE
34.36%
Debt to Equity
2.63
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Timeline
IPO Opens
11 Jun
IPO Closes
15 Jun
Allotment
16 Jun
Listing
18 Jun
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 11 June 2026 | Subscription starts |
| IPO Close Date | 15 June 2026 | Subscription ends |
| Allotment Date | 16 June 2026 | Allotment |
| Listing Date | 18 June 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹0 |
SHNI (Min) | 3 | ₹0 |
SHNI (Max) | Infinity | NaN |
BHNIAbove ₹10,00,000 | Infinity | NaN |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.94% |
| NII (Non-Institutional Investor) | 15.05% |
| Retail | 35.01% |
| Market Maker | 8.26% |
| Total | 100.00% |
IPO Objectives
- Funding of capital expenditure requirements towards the expansion of the existing manufacturing facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh (₹7.72 Cr).
- Funding the incremental working capital requirements of the Company (₹33.00 Cr).
- General Corporate Purposes.
Strengths
- The company benefits from a Deep Operating Legacy, bringing over 15 years of verified industrial expertise to the complex electrical conductors and grid cabling sector.
- It demonstrates Consistent Top-line Expansion, with a clear secular revenue growth path scaling rapidly from ₹77.56 Cr in FY23 to ₹154.12 Cr within the 9-month window ending December 2025.
- The business leverages Triple Production Assets, operating three independent, specialized manufacturing centers inside the industrial zones of Ghaziabad, UP, to ensure smooth processing parameters.
- The firm maintains a strong Institutional Distribution Network, establishing a long-standing, high-volume vendor status with various state electricity distribution utilities (DISCOMs) and heavy power infrastructure EPC partners.
Weaknesses
- The company carries Extremely High Balance Sheet Leverage, managing an aggressive total borrowing footprint of ₹74.05 Cr against a modest net worth base of ₹28.16 Cr, which implies significant debt-servicing exposure.
- It operates on Razor-Thin Operating Margins, running a structurally tight profitability matrix with a net PAT margin of only 5.16%, leaving profits highly vulnerable to base metal raw commodity shocks (copper and aluminium).
- The business faces significant Institutional Concentration Risks, as financial pipelines remain heavily reliant on public tender renewals, government budget outlays, and lengthy working capital recovery milestones from state boards.
- The issue is met with Muted Unofficial Sentiment, with early gray market attention initially opening flat with a tracking premium of ₹0, indicating highly conservative local interest ahead of opening hours.
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Financial Performance
| Period Ended | 31 Dec 2025 (9M) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 121.06 | 73.68 | 38.08 | 33.58 |
| Revenue (₹ Cr.) | 154.12 | 136.05 | 103.59 | 77.56 |
| PAT (₹ Cr.) | 7.93 | 5.65 | 0.76 | 0.4 |
| Net Worth (₹ Cr.) | 28.16 | 17.98 | 6.21 | 3.28 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Susan Electricals India | 0 | 24.47 | 34.36% | 28.16 |
| Prime Cable Industries | 4.06 | 0 | 22.58% | 15.13 |
| V-Marc India | 12.77 | 36.94 | 34.57% | 189.1 |
Subscription Details
No daily bids available.
No subscription statistics available.
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Company Details
- Susan Electricals India Ltd.
- 1703, Nirmal Tower, 26, Barakhamba Road, Connaught Plaza, New Delhi, New Delhi, 110001
- 0120-4331296
- office@seil.net.in
- https://www.seil.net.in/
Registrar Details
- Mudra RTA Ventures Private Limited
- +91 9870297591
- ipo@mudrarta.com
- https://www.mudrarta.com/
Frequently Asked Questions
What does Susan Electricals India do?
Susan Electricals India manufactures electrical products such as winding wires, conductor strips, overhead conductors, and LT/HT power cables used in power transmission, distribution, and industrial applications.
What are the IPO dates for Susan Electricals India SME IPO?
The Susan Electricals India SME IPO will open for subscription on June 11, 2026, and close on June 15, 2026.
What is the price band and minimum investment for Susan Electricals India IPO?
The IPO price band is fixed at ₹120 to ₹127 per share. Retail investors need to apply for a minimum of 2 lots (2,000 shares), requiring an investment of ₹2,54,000 at the upper price band.
What is the Grey Market Premium (GMP) of Susan Electricals India IPO today?
As of June 6, 2026, the Grey Market Premium (GMP) of Susan Electricals India IPO is ₹0, indicating an expected listing price near ₹127 per share.
Where will Susan Electricals India IPO be listed?
Susan Electricals India IPO is proposed to be listed on BSE SME, with the tentative listing date set for June 18, 2026.
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