Susan Electricals IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
Return Estimator (GMP*)
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 77.56 | 103.59 | 136.05 | 154.12 |
| Expense | 77.00 | 102.50 | 128.21 | 143.38 |
| Profit (PAT) | 0.40 | 0.76 | 5.65 | 7.93 |
| Total Assets | 33.58 | 38.08 | 73.68 | 121.06 |
| Company | P/E | EPS |
|---|---|---|
| Prime Cable Industries Limited | 14.00 | 5.46 |
| Divine Power Energy Limited | 63.19 | 4.54 |
| V-Marc India Limited | 43.48 | 15.29 |
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
- Strong grey-market premium — +21% over the issue price.
- Grey-market premium is trending up during the bidding window.
- 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.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
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.
| 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
Susan Electricals India Ltd., 1703, Nirmal Tower,, 26, Barakhamba Road,, Connaught Plaza, New Delhi, New Delhi, 110001
Susan Electricals has set a price band of Rs 120–Rs 127 per share for an issue size of Rs 70 crore. The SME issue is scheduled to open for subscription tomorrow, June 11, 2026.
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 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).
Grey market is quoting a premium of +Rs 27 (+21.3% over issue price), up Rs 9 from the previous session.
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 14.00x) and Divine Power Energy Limited (P/E 63.19x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Subscribe call — the composite picture tilts favourable, though not without some caveats. All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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