Susan Electricals Ipo
Susan Electricals IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Seren Capital Pvt.Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | June 11, 2026 |
| IPO Close Date | June 15, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹120 to ₹127 Per Share |
| Issue Size | Approx ₹70.38 Crores |
| Fresh Issue | Approx ₹60.22 Crores |
| Offer for Sale: | Approx 8,00,000 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,000 | ₹2,54,000 |
| Retail Maximum | 2 | 2,000 | ₹2,54,000 |
| S-HNI Minimum | 3 | 3,000 | ₹3,81,000 |
| S-HNI Maximum | 7 | 7,000 | ₹8,89,000 |
| B-HNI Minimum | 8 | 8,000 | ₹10,16,000 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 15,23,000 Shares | 27.48% |
| QIB (Ex. Anchor) | 10,16,000 Shares | 18.33% |
| NII Shares Offered | 7,65,000 Shares | 13.80% |
| Retail Shares Offered | 17,80,000 Shares | 32.12% |
| Anchor Bidding Date | June 10, 2026 |
| Anchor Investors List | |
| Shares Offered | 15,23,000 Shares |
| Anchor Size | 19.34 Cr. |
| lock-in period end date 50% shares (30 Days) | July 16, 2026 |
| lock-in period end date 50% shares (90 Days) | Sep 14, 2026 |
| IPO Open Date: | June 11, 2026 |
| IPO Close Date: | June 15, 2026 |
| Basis of Allotment: | June 16, 2026 |
| Refunds: | June 17, 2026 |
| Credit to Demat Account: | June 17, 2026 |
| IPO Listing Date: | June 18, 2026 |
| IPO Bidding Cut-off Time: | June 15, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,55,88,795 | 92.47% |
| Promoter Holding Post Issue | 2,03,30,795 | 66.97% |
| Purpose | Crores |
| Funding of Capital expenditure towards Expansion of existing Manufacturing Facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh | ₹7.72 |
| Funding of Working Capital Requirements | ₹33.00 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹77.56 | ₹77.00 | ₹0.40 | ₹33.58 |
| 2024 | ₹103.59 | ₹102.50 | ₹0.76 | ₹38.08 |
| 2025 | ₹136.05 | ₹128.21 | ₹5.65 | ₹73.68 |
| 2026 | ₹269.96 | ₹245.34 | ₹18.25 | ₹130.05 |
| KPI | Values |
| ROE: | 64.64% |
| ROCE: | 29.05% |
| EBITDA Margin: | 11.91% |
| PAT Margin: | 6.77% |
| Debt to equity ratio: | 1.73 |
| Earning Per Share (EPS): | ₹11.96 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 47.42% |
| Net Asset Value (NAV): | ₹24.68 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Prime Cable Industries Limited | 6.68 | 16.77 | 20.14 | 33.17 | 235.81 Cr. |
| Divine Power Energy Limited | 10.83 | 46.35 | 20.69 | 51.71 | 627.48 Cr. |
| V-Marc India Limited | 40.97 | 27.90 | 34.56 | 118.55 | 1,800.48 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |