Susan Electricals shares to list today. Check GMP ahead of debut
If the grey market trend holds through listing, the stock could open with gains in that range, continuing the trend of strong debuts seen across recent SME issues in the wires and cables space.
By Akash Podishetti, ETMarkets.com |
ETMarkets.com
Shares of Susan Electricals India are commanding a grey market premium (GMP) of 34% ahead of their listing on the BSE SME platform on Thursday, implying an unofficial trading price of around Rs 170 against the final issue price of Rs 127, a premium of roughly Rs 43 per share.
If the grey market trend holds through listing, the stock could open with gains in that range, continuing the trend of strong debuts seen across recent SME issues in the wires and cables space.
The Rs 70.38-crore issue, a combination of a fresh issue worth Rs 60.22 crore and an offer for sale worth Rs 10.16 crore, was subscribed 216.63 times overall by the time bidding closed on June 15. The retail category was subscribed 207.56 times, the qualified institutional buyer segment 142.65 times, and the non-institutional investor category a sharp 336 times, with the bigger-ticket HNI bucket above Rs 10 lakh alone subscribed nearly 389 times. The issue had earlier raised Rs 19.34 crore from anchor investors on June 10.
Incorporated in 2007, Susan Electricals India manufactures aluminium and copper-based electrical winding wires, conductors and power cables, including low-tension PVC and XLPE-insulated cables and aerial bunched cables used in power distribution networks.
Its customer base is built primarily around state-owned electricity distribution utilities, infrastructure and EPC companies, positioning it to benefit from rural electrification and distribution-strengthening schemes such as the government's RDSS programme. The company runs three manufacturing facilities in Ghaziabad and sold across seven states in the year ended March 2026, employing 216 people as of April this year.
The company's financial trajectory has been the standout feature of the issue. Revenue nearly doubled to Rs 269.96 crore in FY26 from Rs 136.05 crore the year before, while profit after tax more than tripled to Rs 18.25 crore from Rs 5.65 crore over the same period.
The company plans to use IPO proceeds largely towards working capital requirements, estimated at Rs 33 crore, along with Rs 10.29 crore for expanding its existing manufacturing facility in Sahibabad, Ghaziabad.
Susan Electricals' debut will be watched closely against recent listings in the wires and cables segment, which have delivered a mixed bag of outcomes.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
If the grey market trend holds through listing, the stock could open with gains in that range, continuing the trend of strong debuts seen across recent SME issues in the wires and cables space.
The Rs 70.38-crore issue, a combination of a fresh issue worth Rs 60.22 crore and an offer for sale worth Rs 10.16 crore, was subscribed 216.63 times overall by the time bidding closed on June 15. The retail category was subscribed 207.56 times, the qualified institutional buyer segment 142.65 times, and the non-institutional investor category a sharp 336 times, with the bigger-ticket HNI bucket above Rs 10 lakh alone subscribed nearly 389 times. The issue had earlier raised Rs 19.34 crore from anchor investors on June 10.
Incorporated in 2007, Susan Electricals India manufactures aluminium and copper-based electrical winding wires, conductors and power cables, including low-tension PVC and XLPE-insulated cables and aerial bunched cables used in power distribution networks.
Its customer base is built primarily around state-owned electricity distribution utilities, infrastructure and EPC companies, positioning it to benefit from rural electrification and distribution-strengthening schemes such as the government's RDSS programme. The company runs three manufacturing facilities in Ghaziabad and sold across seven states in the year ended March 2026, employing 216 people as of April this year.
The company's financial trajectory has been the standout feature of the issue. Revenue nearly doubled to Rs 269.96 crore in FY26 from Rs 136.05 crore the year before, while profit after tax more than tripled to Rs 18.25 crore from Rs 5.65 crore over the same period.
ADVERTISEMENT
The company plans to use IPO proceeds largely towards working capital requirements, estimated at Rs 33 crore, along with Rs 10.29 crore for expanding its existing manufacturing facility in Sahibabad, Ghaziabad.
Susan Electricals' debut will be watched closely against recent listings in the wires and cables segment, which have delivered a mixed bag of outcomes.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
