Home
Charts
Search
Watchlist
Products
All IPOs
₹127 - 127
Susan Electricals India Ltd
TradingIPOSME
₹127 - 127
Incorporated in 2007, we are engaged in the manufacturing of aluminium and copper-based electrical winding wires, conductors and cables in various specifications, sizes and configurations. Under the cables segment, we manufacture low tension (LT) cables, including Low Tension Aerial Bunched (LT AB) cables (up to 1.1 kV), High Tension (HT) cables of specified voltage grades and Medium Voltage Covered Conductor ("MVCC") Cables. Under the wires and conductors segment, our offerings include winding aluminium wires and strips, winding copper wires and strips and aluminium conductors, manufactured in accordance with prescribed specifications.
Lot1,000Min Invest₹2,54,000Face Value₹10Issue Size₹70 CrFresh Issue₹60 CrOffer for Sale₹10 CrListing Price₹186CMP₹217
Timeline
11 Jun
Bidding opens
15 Jun
Bidding closes
16 Jun
Allotment
17 Jun
Refund & demat credit
18 Jun
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹70 Cr0.55 Cr shares
Fresh Issue₹60 Cr
Offer for Sale₹10 Cr
Face Value₹10
Lot Size1,000 shares
ReservationQIB 49.94% · NII 15.05% · RETAIL 35.01%
Application Sizes
Retail₹2,54,0001-1 lots
sNII₹2,54,000from 2 lots
bNII₹10,16,000from 8 lots
Managers & Registrar
Lead ManagerSeren Capital Private Limited
RegistrarMudra RTA Ventures Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrVishal JainPRMTR8,00,00010.16Total8,00,00010.16
Shareholding
CategoryPre IPOPost IPOPromoter Group92.47%66.97%Public7.53%33.03%
Objects of the Issue
- Funding of Capital expenditure towards Expansion of existing Manufacturing Facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh
- Funding of Working Capital Requirements
- General corporate purposes
Anchor Book
Bid Date10-Jun-2026Shares15,23,000Amount₹19 Cr30-day lock-in15-Jul-202690-day lock-in13-Sep-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 78 | 103 | 136 | 269 |
| Operating ProfitCr | 1 | 4 | 12 | 32 |
| OPM% | 1.7 | 3.5 | 8.8 | 11.9 |
| PBTCr | 1 | 1 | 8 | 25 |
| PATCr | 1 | 1 | 6 | 18 |
| EPS | 3 | 1 | 6 | 12 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 2 | 3 | 5 | 16 |
| ReservesCr | 1 | 3 | 13 | 23 |
| BorrowingsCr | 5 | 25 | 45 | 67 |
| Fixed AssetsCr | - | - | - | 13 |
| Total AssetsCr | 34 | 38 | 74 | 130 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 4 | -5 | -18 | -10 |
| Investing Cash FlowCr | -3 | -5 | -4 | -8 |
| Financing Cash FlowCr | -2 | 10 | 23 | 17 |
| Net Cash FlowCr | 0 | 0 | 1 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Vendor registrations and approvals across multiple states, supporting tender participation with government entities.
- In-House Manufacturing facilities supported by quality certifications.
- Geographically dispersed customer base.
- Experienced Promoter having domain knowledge.
Strategies · as stated in the DRHP
- Expansion of Production Capabilities at Existing Manufacturing Facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh.
- Broaden our marketing base and increasing our geographical reach.
- Focus on consistently meeting quality standards
Risks · as stated in the DRHP
- The company derives a major portion of its revenue from Government customers, particularly state-owned electricity distribution utilities ("DISCOMs"), and any reduction in Government expenditure, adverse changes in procurement policies or failures to secure tenders may adversely affect the company business, financial condition, results of operations and cash flows.
- The company derives a significant portion of its revenue from the sale of the company key product, namely Low Tension ("LT") cables. Any decline in demand for LT cables could has an adverse effect on its business, results of operations and financial condition.
- The company has recently commenced manufacturing of Low Tension (LT) cables in Fiscal 2023-24 and High Tension (HT) cables in Fiscal 2025-26 and given its limited operating history in these product categories, the company may faces operational, technical and commercial challenges that could adversely affect the company business, financial condition, results of operations and future growth prospects.
- Majority of the company revenue is derived from a limited number of customers, and any reduction in orders from such customers may adversely affect its business, financial condition, results of operations and cash flows.
- The Company had negative cash flows in the past, details of which is given below. Sustained negative cash flow could impact its growth and business.
- The company derives a significant portion of its revenue from trading activities, which is a relatively low-margin and competitive business and may expose the company to risks that could adversely affect its financial performance.