Susan Electricals India IPO
Trading • ₹70.38 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Limited operating history in key business lines
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹127
Lot Size
1000 shares
Issue Size
₹70.38 Cr
Open
11 Jun 2026
Close
15 Jun 2026
Subscription
191×
IPO Schedule
| Issue Open Date | 11 Jun 2026 |
| Issue Close Date | 15 Jun 2026 |
| Listing Date | 17 Jun 2026 |
About Susan Electricals India
Susan Electricals India Limited, incorporated in 2007, is a manufacturer of aluminium and copper-based electrical winding wires, conductors, and cables used across power distribution and electrical infrastructure applications. The company’s product portfolio includes low tension (LT) cables, LT aerial bunched (AB) cables, high tension (HT) cables, winding aluminium and copper wires and strips, and aluminium conductors manufactured according to prescribed industry specifications. The company primarily caters to state-owned electricity distribution utilities (DISCOMs), EPC contractors, infrastructure companies, and participants in the electrical wires and cables industry. Its products are used in power distribution networks, transformer and motor winding applications, overhead transmission lines, and underground cabling projects. The company also undertakes trading of aluminium wires and rods, and provides job work services related to processing winding wires and strips. Susan Electricals operates three manufacturing facilities located in Ghaziabad, Uttar Pradesh. The company is ISO 9001:2015 certified for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety management, reflecting its focus on quality, operational efficiency, and compliance with industry standards. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Funding of capital expenditure towards expansion of existing manufacturing facility situated at Plot No. 18/31, Sahibabad, Ghaziabad, Uttar Pradesh — Rs 10.29 crore Funding of working capital requirements — Rs 33 crore General corporate purposes
Company Details
Founders / Promoters
Mr. Vishal Jain
Founded
2007
Registrar
Mudra RTA Ventures Pvt Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Susan Electricals India — IPOFins Verdict
QuantitativeDriven by QIB demand at 142.7x and elevated disclosed risk (7/10), Susan Electricals India listed at a premium of 46.5% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company claims to operate three manufacturing facilities in Ghaziabad, Uttar Pradesh, for the production of electrical wires, conductors, and cables. It states that its facilities are supported by
- The company states that it serves customers across seven states, namely Uttar Pradesh, Delhi, Madhya Pradesh, Telangana, Haryana, Rajasthan, and Jharkhand. Revenue from these states amounted to Rs 263
- The company states that its promoter, Vishal Jain, has over 22 years of experience in the electrical wires, cables, conductors, and winding wires industry. It claims that this industry experience supp
- The company has recorded substantial growth in revenue and profitability over recent financial periods. Revenue from operations increased from Rs 103.48 crore in FY24 to Rs 135.74 crore in FY25 to Rs
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹127
Listing Price
₹186
Listing Gain/Loss
+46.46%
Listing Date
17 Jun 2026
Price Since Listing
Returns are measured against the ₹127 issue price.
Listing
₹186
+46.5%
1 Week
₹228.4
+79.8%
1 Month
₹240
+89.0%
Current
₹214
+68.5%
Want to buy this stock?
Trade Susan Electricals India on the secondary market
FAQ
What is the price band of Susan Electricals India IPO?
The price band is ₹127 per share with a lot size of 1000 shares. Minimum investment: ₹1,27,000.
What does Susan Electricals India do?
Susan Electricals India Limited, incorporated in 2007, is a manufacturer of aluminium and copper-based electrical winding wires, conductors, and cables used across power distribution and electrical infrastructure applications. The company’s product portfolio includes low tension (LT) cables, LT aerial bunched (AB) cables, high tension (HT) cables, winding aluminium and copper wires and strips, and aluminium conductors manufactured according to prescribed industry specifications. The company primarily caters to state-owned electricity distribution utilities (DISCOMs), EPC contractors, infrastructure companies, and participants in the electrical wires and cables industry. Its products are used in power distribution networks, transformer and motor winding applications, overhead transmission lines, and underground cabling projects. The company also undertakes trading of aluminium wires and rods, and provides job work services related to processing winding wires and strips. Susan Electricals operates three manufacturing facilities located in Ghaziabad, Uttar Pradesh. The company is ISO 9001:2015 certified for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety management, reflecting its focus on quality, operational efficiency, and compliance with industry standards. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Funding of capital expenditure towards expansion of existing manufacturing facility situated at Plot No. 18/31, Sahibabad, Ghaziabad, Uttar Pradesh — Rs 10.29 crore Funding of working capital requirements — Rs 33 crore General corporate purposes
Should I apply for Susan Electricals India IPO?
Susan Electricals India listed at ₹186 (+46.5% premium to the ₹127 issue price) after 191.1x subscription. IPOFins Score 8/10: Driven by QIB demand at 142.7x and elevated disclosed risk (7/10), Susan Electricals India listed at a premium of 46.5% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Susan Electricals India?
Susan Electricals India was founded by Mr. Vishal Jain in 2007.