Susan Electricals India Ltd.
SUSANSME
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Overview
Susan Electricals India Limited manufactures aluminium and copper-based electrical winding wires, strips, conductors and power cables for electricity distribution and industrial applications. Susan Electricals India Limited supplies LT cables, aerial bunched cables, HT cables, MVCC cables, winding aluminium and copper products, serving state DISCOMs, EPC contractors and private customers across multiple Indian states through three manufacturing units in Ghaziabad, supported by BIS product approvals and ISO quality, safety and environmental certifications.
Opening Date
Jun 11, 2026
Closing Date
Jun 15, 2026
Listing Date
Jun 18, 2026
IPO Type
SME
IPO Status
Open
Issue Size
70.38 Cr
Fresh Issue
60.22 Cr
Offer for Sale
10.16 Cr
Price Band
₹120 - ₹127
Lot Size
1000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to support manufacturing expansion, strengthen working capital and meet corporate requirements.
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Funding capital expenditure for expansion of the existing manufacturing facility at Plot No. 18/31, Site-IV, Sahibabad, Ghaziabad, including construction of an additional factory shed and installation of a 6-33 kV triple-layer Continuous Catenary Vulcanization line and a rigid stranding machine to expand HT and MVCC cable capacity.
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Meeting incremental working capital requirements to support higher procurement of raw materials, inventory holding, receivables funding and execution of larger orders as the business scales across government and private customers over FY 2026-27 and FY 2027-28.
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Meeting general corporate purposes, including routine business requirements, operating contingencies, strengthening business development and marketing capabilities, supporting future growth opportunities and other corporate initiatives permitted under applicable law.
Key Performance Indicator
P/E Ratio
10.85
EPS
11.7
ROE
64.64%
ROCE
29.05%
RONW
47.42%
Debt to Equity Ratio
—
PAT Margin
6.77%
EBITDA Margin
11.91%
P/B
5.15
SWOT Analysis
Strengths
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Vendor registrations with multiple state DISCOMs support participation in government and utility tenders across several regions.
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Three in-house manufacturing facilities in Ghaziabad with BIS product certifications and ISO systems support quality control and execution.
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Diversified product portfolio across winding wires, conductors, LT cables, HT cables and MVCC cables serves varied power distribution needs.
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Experienced promoter and management team with long operating history in the wires and cables segment supports business development and tender execution.
Weaknesses
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Customer concentration remains meaningful, with top customers contributing a significant share of annual revenue in recent years.
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Working capital intensity is high, reflected in sizeable inventories, receivables and dependence on short-term borrowings.
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Raw material costs are heavily linked to aluminium and copper prices, which can pressure margins if price increases are not passed on quickly.
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A substantial portion of revenue is linked to government and tender-based business, exposing operations to approval cycles and payment timing.
Opportunities
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Expansion of the Sahibabad facility and new CCV line can increase cable manufacturing capacity and improve eligibility for higher-specification tenders.
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Government electrification, RDSS, feeder strengthening and utility capex can drive continued demand for LT, HT and MVCC products.
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Geographic expansion into additional states and deeper relationships with EPC contractors and distributors can broaden the customer base.
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Higher value-added cable segments such as HT and MVCC can improve product mix, technical positioning and profitability over time.
Threats
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Slowdown in infrastructure spending, power sector capex or Indian economic growth can reduce demand for cables, conductors and winding products.
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Commodity price volatility in aluminium and copper can increase input costs, inventory risk and margin uncertainty.
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Regulatory changes, stricter compliance requirements or delays in statutory approvals may increase costs or disrupt operations.
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Competition from established organized players and regional manufacturers can pressure pricing, tender wins and customer retention.
Subscription Rate
Frequently Asked Questions about Susan Electricals India Ltd.
Susan Electricals India Limited manufactures aluminium and copper-based electrical winding wires, strips, conductors and power cables for electricity distribution and industrial applications. Susan Electricals India Limited supplies LT cables, aerial bunched cables, HT cables, MVCC cables, winding aluminium and copper products, serving state DISCOMs, EPC contractors and private customers across multiple Indian states through three manufacturing units in Ghaziabad, supported by BIS product approvals and ISO quality, safety and environmental certifications.
The Susan Electricals India Ltd. IPO is scheduled to open for subscription on Jun 11, 2026 and close on Jun 15, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Susan Electricals India Ltd. IPO is ₹120 to ₹127. Investors can place bids within this range once the issue opens.
The minimum lot size for the Susan Electricals India Ltd. IPO is 1000 shares. The minimum investment amount ₹1,27,000.
The total issue size of the Susan Electricals India Ltd. IPO is approximately ₹70.38. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Susan Electricals India Ltd. IPO has been subscribed 5.76 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Susan Electricals India Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Susan Electricals India Ltd. are expected to list on stock exchanges on Jun 18, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Susan Electricals India Ltd. IPO are proposed to be used for The main objectives of the issue are to support manufacturing expansion, strengthen working capital and meet corporate requirements., Funding capital expenditure for expansion of the existing manufacturing facility at Plot No. 18/31, Site-IV, Sahibabad, Ghaziabad, including construction of an additional factory shed and installation of a 6-33 kV triple-layer Continuous Catenary Vulcanization line and a rigid stranding machine to expand HT and MVCC cable capacity., Meeting incremental working capital requirements to support higher procurement of raw materials, inventory holding, receivables funding and execution of larger orders as the business scales across government and private customers over FY 2026-27 and FY 2027-28., Meeting general corporate purposes, including routine business requirements, operating contingencies, strengthening business development and marketing capabilities, supporting future growth opportunities and other corporate initiatives permitted under applicable law.
Before applying for the Susan Electricals India Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
