Key facts
- Susan Electricals India's IPO is open from June 11 to June 15.
- The total issue size is ₹70.38 crore.
- The price band is set at Rs 120-127 per share.
- A minimum investment of Rs 2.54 lakh is required at the upper price band.
- The company plans to use funds for manufacturing expansion and working capital.
Susan Electricals India's Initial Public Offering (IPO) opened for subscription on June 11, aiming to raise ₹70.38 crore. The issue, which closes on June 15, includes a fresh issue of 47.42 lakh shares worth ₹60.22 crore and an offer-for-sale of 8 lakh shares valued at ₹10.16 crore.
The company has set a price band of Rs 120-127 per share. Investors can apply for a minimum of 2,000 shares, requiring an investment of approximately Rs 2.54 lakh at the upper end of the price band. Ahead of the opening, the shares were trading at a grey market premium (GMP) of around 20%, suggesting a potential listing price of Rs 152-153.
Susan Electricals, established in 2007, manufactures aluminium and copper-based electrical winding wires, conductors, and power cables. Its products are used in transformers, motors, alternators, and power distribution networks, serving customers like state electricity distribution companies and EPC contractors. The company anticipates benefiting from government power infrastructure programs.
Financially, Susan Electricals has shown strong improvement, with revenue nearly doubling to Rs 269.96 crore in FY26 from Rs 136.05 crore in FY25. Profit after tax surged by 223% to Rs 18.25 crore during the same period. The proceeds from the fresh issue are intended for expanding its manufacturing facility in Ghaziabad and supporting working capital needs.
The IPO has allocated nearly 50% for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 35% for retail investors. The share allotment is expected by June 16, with listing scheduled for June 18 on the BSE SME platform. Seren Capital is managing the issue, with Mudra RTA Ventures serving as the registrar.