Susan Electricals India IPO
Susan Electricals India LtdSME
This IPO has listed.
- Open date
- 11 Jun 2026
- Close date
- 15 Jun 2026
- Min. Investment
- ₹2,54,000
- Lot Size
- -
- Fresh Issue
- ₹60.22 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers142.65x
- Non-Institutional Investors210.55x
- Retail-Individual Investors207.56x
- Total192.06x
Schedule
- Completed: IPO open date11 Jun 2026
- Completed: IPO close date15 Jun 2026
- Completed: Allotment date16 Jun 2026
- Completed: Funds unblock or debit17 Jun 2026
- Completed: Tentative listing date18 Jun 2026
About
Promoter shareholding in Susan Electricals India Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Vishal Jain | 1,44,15,535 | 92.47% | 1,36,15,535 | 66.97% |
| Mahak Jain | 0 | 0.00% | 0 | 0.00% |
Susan Electricals India IPO Strengths & Risks
- 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: 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.
- Risks Relating to the 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.
- Risks Relating to the Business: The company is dependent on the performance of the cables market and any adverse changes in the conditions affecting the cables market can adversely impact its business, financial condition, results of operations, cash flows and prospects.
- Risks Relating to the Business: The company has significant power and fuel requirements and any disruption to power sources could increase its production costs and adversely affect the company results of operations and cash flows.
- Risks Relating to the Business: The company is significantly dependent on a limited number of suppliers for procurement of its raw materials, with which the company does not has any long-term agreements and any disruption in supply or volatility in raw material prices may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: There has been certain discrepancies, errors and delays in filings relating to forms submitted with the Registrar of Companies ("RoC") under the provisions of the Companies Act, 2013/1956 and the rules made thereunder. In addition, certain historical corporate secretarial records are presently untraceable. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: The company requires certain approvals, licenses, registrations and permits to operates its business and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operates the company business may adversely affect its operations and financial conditions.
- Risks Relating to the Business: Any disruption, breakdown or shutdown of the company Manufacturing Units may has a material adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: There is outstanding legal proceedings involving the Company. Any adverse decision could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and has an adverse effect on the company business, prospects, results of operations and financial condition.
- Risks Relating to the Business: The company products is subject to stringent technical, quality and safety standards, and any failures to comply with applicable specifications, certifications or inspection requirements may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company does not own the premises from which its registered office, corporate office, warehouse and manufacturing units operates, including one manufacturing facility and warehouse held under a sub-lease arrangement. Any non-renewal, termination or adverse regulatory action in respect of such lease or sub-lease arrangements may adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The company is subject to strict quality requirements and any product having defect issues or failures by its or the company raw material suppliers to comply with quality standards may lead to the cancellation of existing and future orders, recalls and exposure to potential product liability claims.
- Risks Relating to the Business: The company may not be able to maintain historical levels of orders from its existing customers or secure repeat tenders from Government customers, and any reduction in order volumes may adversely affect the company business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: Inventories and trade receivables form a major part of the company current assets, and ineffective management of the same could adversely affect its business, cash flows, profitability and liquidity.
- Risks Relating to the Business: The company relies on third-party logistics and transportation providers for procurement of raw materials and delivery of finished products, and any disruption in such services may adversely affect its operations, revenues and cash flows.
- Risks Relating to the Business: There has been certain delays in payment of statutory dues in the past. Any delay in payment of statutory dues in future, may result in the imposition of penalties and in turn may has an adverse effect on the company business, financial condition, results of operation and cash flows.
- Risks Relating to the Business: There has been certain delays in payment of statutory dues in the past. Any delay in payment of statutory dues in future, may result in the imposition of penalties and in turn may has an adverse effect on the company business, financial condition, results of operation and cash flows.
- Risks Relating to the Business: The Company has unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans may adversely affect its cash flows.
- Risks Relating to the Business: The company operates in a competitive industry and increased competition may lead to a reduction in its revenues, reduced profit margins or a loss of market share.
- Risks Relating to the Business: The company Promoter group entity is engaged in the similar line of business activities as those undertaken by its Company, which may result in conflict of interest.
- Risks Relating to the Business: The company business operations is majorly concentrated in certain geographical regions and any adverse developments affecting its operations in these regions could has a significant impact on the company revenue and results of operations.
- Risks Relating to the Business: The company intend to utilize a portion of the Net Proceeds for funding its capital expenditure requirements. The company has shortlisted vendors and obtained quotations from them, however, the company is yet to place orders or enter into definitive agreements with the vendors in relation to such capital expenditure requirements.
- Risks Relating to the Business: The Company is in use of trademark, which is not registered under the Trademarks Act, 1999 as on date of Red Herring Prospectus. Thus, its may be subject to claims alleging breach of third-party intellectual property rights.
- Risks Relating to the Business: Under-utilization of the company manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could has an adverse effect on the company business, future prospects and future financial performance.
- Risks Relating to the Business: Any negative publicity regarding the Company, brand or products, whether substantiated or not, including concerns about product quality, misbranding or customer service issues, could adversely impact its reputation, consumer trust and market position, which may materially affect the company business, financial condition and results of operations.
- Risks Relating to the Business: The company has certain contingent liabilities and commitments, which, if they materialize, may adversely affect its results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company failures to identify and adapt to evolving industry trends, technological developments and customer preferences may materially and adversely affect its business.
- Risks Relating to the Business: The company is dependent upon the experience and skill of the company Promoters, Key Managerial Personnel and Senior Management Personnel for conducting its business and undertaking the company day to day operations. The loss of or its inability to retain, such persons could materially and adversely affect the company business performance. In addition, excess rate of attrition amongst the personnel engaged by its Company may has an adverse impact on the company business operations.
- Risks Relating to the Business: The company operations and the work force is exposed to a variety of occupational and operational hazards, which may adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The Promoters (including Promoter Group) and Directors hold 92.47% of the Equity Shares of the Company and is therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future.
- Risks Relating to the Business: If the company is not able to successfully manage its growth, the company business and results of operations may be adversely affected.
- Risks Relating to the Business: The company may be subject to third-party claims, indemnification obligations or invocation of guarantees arising from defects, accidents or damages related to its Wires, Conductor and Cables. Any such claims or liabilities could adversely impact the company business operations, cash flows, financial condition, results of operations and reputation.
- Risks Relating to the Business: The company operations is subject to high working capital requirements. Its inability to maintain an optimal level of working capital required for the company business may impact its operations adversely.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Offer price.
- Risks Relating to the Business: The company has incurred significant indebtedness which exposes its to various risks which may has an adverse effect on the company business and results of operations.
- Risks Relating to the Business: The company industry is labour intensive, and its business operations may be materially adversely affected by strikes, work stoppages or increased wages demands by the company employees or those of its suppliers.
- Risks Relating to the Business: The company insurance coverage may not be adequate to protect its against certain operating hazards, and this may has a material adverse effect on the company business.
- Risks Relating to the Business: Loans availed by the Company has been secured on personal guarantees of its Promoters. The company business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by its Promoters.
- Risks Relating to the Business: Fraud, theft, employee negligence or similar incidents may adversely affect the company results of operations and financial condition.
- Risks Relating to the Business: The company could be harmed by employee misconduct or errors that is difficult to detect and any such incidences could adversely affect the company financial condition, results of operations and reputation.
- Risks Relating to the Business: The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- Risks Relating to the Business: The company is subject to the restrictive covenants of banks in respect of the Loans/ Credit Limits and other banking facilities availed from them.
- Risks Relating to the Business: The Company will not receive any proceeds from the Offer for Sale portion of the Offer.
- Risks Relating to the Business: The Objects of the Offer for which funds is being raised, are based on the company management estimates and has not been appraised by any bank or financial institution or any independent agency.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: Information relating to the company production capacities and the historical capacity utilization of its production facilities included in this Red Herring Prospectus is based on certain assumptions and has been subjected to rounding off and future production and capacity utilization may vary.
- Risks Relating to the Business: The company ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Risks Relating to the Business: Certain key performance indicators for certain listed industry peers included in this Red Herring Prospectus has been sourced from public sources and there is no assurance that such financial and other industry information is complete.
- Risks Relating to the Business: The company has issued Equity Shares during the preceding one year at a price that may be below the Issue Price.
- Risks Relating to the Business: The company Promoter and the Promoter Group will jointly continue to retain majority shareholding in its Company after the Offer, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Risks Relating to the Business: There is no guarantee that the Equity Shares of the Company will be listed on the Stock Exchanges in a timely manner or at all.
- Risks Relating to the Business: Certain sections of this Red Herring Prospectus disclose information from industry report commissioned and paid for by the company and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Risks Relating to the Business: The Offer price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the offer price and you may not be able to sell your Equity Shares at or above the offer Price.
