Shares of Susan Electricals will be listed today. Check GMP before debuting

Shares of Susan Electricals India are commanding a gray market premium (GMP) of 34% ahead of their listing on the BSE SME platform on Thursday, trading at Rs. 127 against a final issue price of around Rs. 170 suggests an unofficial trading price, which is roughly Rs. 43 is the premium per share.

If the gray market trend is maintained by listings, the shares could open with gains in that range, continuing the trend of strong debuts seen in recent SME issues in the wire and cable space.

Rs. 70.38 crore issue, Rs. 60.22 crore of new issue and Rs. 10.16 crore combined with a sale offer, was subscribed a total of 216.63 times by the close of bidding on June 15. 207.56 times the retail category was subscribed and 207.56 times the organization was qualified. The non-institutional investor category saw a 336-fold increase, with the big-ticket HNI bucket of over Rs 10 lakh subscribing nearly 389 times. The issue had earlier on June 10 raised Rs. 19.34 crore was collected.

Established in 2007, Susan Electricals India manufactures aluminum 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 primarily built around state-owned electricity distribution utilities, infrastructure and EPC companies, which are positioned to benefit it from rural electrification and distribution-strengthening schemes such as the government’s RDSS programme. The company operates three manufacturing facilities in Ghaziabad and sold in seven states in the year ended March 2026, employing 216 people as of April this year.

The financial momentum of the company is the distinguishing feature of the issue. Revenue in FY26 was Rs. 136.05 crore almost doubled to Rs. 269.96 crore, while profit after tax in the same period was Rs. 5.65 crore has tripled to Rs. 18.25 crores.

The company plans to use the IPO proceeds mostly for working capital requirements, estimated at Rs. 33 crore along with Rs. 10.29 crore for expansion of its existing manufacturing facility at Sahibabad, Ghaziabad.

Susan Electricals’ launch will be closely watched against recent listings in the wires and cables segment, which have given mixed results.

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