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Susan Electricals India IPO Sees Strong Subscription on First Day
The initial public offering (IPO) of Susan Electricals India, which opened for subscription on 11 June, has seen a strong response from investors. The company's shares are set to debut on the BSE SME platform on 18 June, following the allotment expected on 16 June.
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The IPO price band for Susan Electricals India is ₹120-127 per share, with investors required to bid for a minimum lot of 2,000 shares, translating into an investment of ₹2.54 lakh at the upper end of the price band. Seren Capital, the book-running lead manager, and Mudra RTA Ventures, the registrar to the issue, have been facilitating the IPO process.
As per the allocation structure, nearly 50% of the net issue has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 35% for retail investors.
Established in 2007, Susan Electricals India manufactures aluminium and copper-based winding wires, conductors, and power cables used across transformers, motors, alternators, and power distribution systems. The company caters to state electricity distribution companies (DISCOMs), EPC contractors, and other participants in the power transmission and distribution sector.
The company expects to benefit from increased investments in power infrastructure under government initiatives such as the Revamped Distribution Sector Scheme (RDSS) and rural electrification programmes. It currently operates three manufacturing units in Ghaziabad, Uttar Pradesh, and supplies products across seven states during FY26.
Financially, the company reported strong growth in FY26. Revenue nearly doubled to ₹269.96 crore from ₹136.05 crore in the previous year, while profit after tax surged 223% to ₹18.25 crore from ₹5.65 crore. EBITDA also witnessed a sharp rise, increasing to ₹32.08 crore from ₹12 crore in FY25.
The grey-market premium (GMP) for Susan Electricals India shares has been ₹40, indicating an estimated listing price of ₹167 apiece, which is 31.50% above the IPO price of ₹127. The company has received bids for 1,39,89,000 shares against 35,61,000 shares on offer at 14:03 IST, according to chittorgarh.com.
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| IPO Subscription Status | Day 1 Subscription |
|---|---|
| Overall Subscription | 3.93x |
| Retail Subscription | 2.84x |
| NII Subscription | 2.38x |
| QIB Subscription | 7.01x |
The company has planned to use the proceeds from the fresh issue to expand its current manufacturing facility located in Ghaziabad and to support its working capital needs.
Susan Electricals India's IPO has recorded full subscription on the first day of bidding.
