Susan Electricals IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 5 |
|---|---|---|---|
| QIB | 7.01x | 7.31x | 142.65x |
| NII | 3.97x | 14.08x | 336.60x |
| bNII > ₹10L | 6.34x | 22.51x | 336.60x |
| sNII 2-10L | 6.34x | 22.51x | 336.60x |
| Retail | 4.79x | 19.16x | 207.55x |
| Total | 5.10x | 14.62x | 216.76x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 77.56 | 103.59 | 136.05 | 269.96 |
| Expense | 77.00 | 102.50 | 128.21 | 245.34 |
| Profit (PAT) | 0.40 | 0.76 | 5.65 | 18.25 |
| Total Assets | 33.58 | 38.08 | 73.68 | 130.05 |
Peer Comparison
| Company | EPS | P/E |
|---|---|---|
| Prime Cable Industries Limited | 6.68 | 16.77 |
| Divine Power Energy Limited | 10.83 | 46.35 |
| V-Marc India Limited | 40.97 | 27.90 |
Promoters & Holding Pattern
Promoters: Vishal Jain and Mahak Jain
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,55,88,795 | 92.47% |
| Promoter Holding Post Issue | 2,03,30,795 | 66.97% |
Strengths & Risks
- Heavily oversubscribed — 216.8x overall (so far).
- Strong institutional (QIB) demand — 142.7x.
- Revenue grew 31% in the latest reported year.
- Strong return on equity — 47%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Elevated leverage — debt/equity of 2.52.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Susan Electricals
Since its establishment in 2007, Susan Electricals India has been a leading manufacturer of aluminium and copper-based electrical winding wires, conductors, and power cables. They manufacture winding wires and strips used in transformers, motors, alternators, coils, and other electrical equipment, as well as aluminium stranded conductors for overhead power distribution networks. The firm makes power cables, including Low Tension (LT) Cables, PVC insulated cables, XLPE insulated cables, LT Aerial Bunched (AB) cables, and High Tension (HT) Cables in diverse specifications and sizes. Its clients are infrastructure, EPC companies, and businesses that operate in the electrical wires, cables, and conductors sectors. Its manufacturing facility is situated in Ghaziabad. While in FY25, the firm sold its products across 7 states, including Uttar Pradesh, Jharkhand, Madhya Pradesh, and Karnataka.
Company Contact Information
Susan Electricals India Ltd., 1703, Nirmal Tower,, 26, Barakhamba Road,, Connaught Plaza, New Delhi, New Delhi, 110001
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding of Capital expenditure towards Expansion of existing Manufacturing Facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh | 7.72 |
| Funding of Working Capital Requirements | 33.00 |
| General Corporate Purpose | - |
Resources & Documents
Anchor Investors
Susan Electricals IPO - Quick Take
Susan Electricals has set a price band of Rs 120–Rs 127 per share for an issue size of Rs 70 crore. The stock listed with a 46.46% gain versus its issue price on June 18, 2026.
The issue is promoted by Vishal Jain and Mahak Jain with Seren Capital Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards funding of Capital expenditure towards Expansion of existing Manufacturing Facility situated at Plot No.18/31, Sahibabad… (Rs 8 crore) and funding of Working Capital Requirements (Rs 33 crore).
On fundamentals, the company is posting revenue growth of 31.3%, a profit margin of 4.2%, return on equity of 46.7% in its most recent reported period. Listed peers in this segment include Prime Cable Industries Limited (P/E 16.77x) and Divine Power Energy Limited (P/E 46.35x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Susan Electricals IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 33.1%. Of the 32 SME IPOs we have tracked with a final GMP of 25% or more, 32 listed above, 0 flat and 0 below the issue price; Susan Electricals listed 46.5% above its issue price.
See the full Susan Electricals GMP history and trend, or learn how grey market premium works and how reliable it is.
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