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Elin Electronics IPO is a book built issue of Rs 475.00 crores. The issue is a combination of fresh issue of Rs 175.00 crores and offer for sale of Rs 300.00 crores.
Elin Electronics IPO bidding started from December 20, 2022 and ended on December 22, 2022. The allotment for Elin Electronics IPO was finalized on Tuesday, December 27, 2022. The shares got listed on BSE, NSE on December 30, 2022.
Elin Electronics IPO price band is set at ₹234 to ₹247 per share. The minimum lot size for an application is 60 Shares. The minimum amount of investment required by retail investors is ₹14,820. The minimum lot size investment for sNII is 14 lots (840 shares), amounting to ₹207,480, and for bNII, it is 68 lots (4,080 shares), amounting to ₹1,007,760.
Axis Capital Limited and Jm Financial Limited are the book running lead managers of the Elin Electronics IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Elin Electronics IPO RHP for detailed information.
| IPO Date | December 20, 2022 to December 22, 2022 |
| Listing Date | December 30, 2022 |
| Face Value | ₹5 per share |
| Price Band | ₹234 to ₹247 per share |
| Lot Size | 60 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹475.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹175.00 Cr) |
| Offer for Sale | [.] shares of ₹5 (aggregating up to ₹300.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 42,574,200 |
| Share holding post issue | 49,659,220 |
Elin Electronics IPO offers 14,209,386 shares. 4,059,824 (28.57%) to QIB, 3,044,869 (21.43%) to NII, 7,104,693 (50.00%) to RII. 118,411 RIIs will receive minimum 60 shares and 1,208 (sNII) and 2,416 (bNII) will receive minimum 840 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 4,059,824 (28.57%) | NA |
| NII (HNI) Shares Offered | 3,044,869 (21.43%) | |
| bNII > ₹10L | 2,029,912 (14.29%) | 2,416 |
| sNII < ₹10L | 1,014,957 (7.14%) | 1,208 |
| Retail Shares Offered | 7,104,693 (50.00%) | 118,411 |
| Total Shares Offered | 14,209,386 (100%) |
Elin Electronics IPO opens on December 20, 2022, and closes on December 22, 2022.
| IPO Open Date | Tuesday, December 20, 2022 |
| IPO Close Date | Thursday, December 22, 2022 |
| Basis of Allotment | Tuesday, December 27, 2022 |
| Initiation of Refunds | Wednesday, December 28, 2022 |
| Credit of Shares to Demat | Thursday, December 29, 2022 |
| Listing Date | Friday, December 30, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 22, 2022 |
Investors can bid for a minimum of 60 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,820 |
| Retail (Max) | 13 | 780 | ₹192,660 |
| S-HNI (Min) | 14 | 840 | ₹207,480 |
| S-HNI (Max) | 67 | 4,020 | ₹992,940 |
| B-HNI (Min) | 68 | 4,080 | ₹1,007,760 |
| Lot Size Calculator | |||
Mangi Lall Sethia, Kamal Sethia, Kishore Sethia, Gaurav Sethia, Sanjeev Sethia, Sumit Sethia, Suman Sethia, Vasudha Sethia and Vinay Kumar Sethia are the company promoters.
| Share Holding Pre Issue | 53.98% |
| Share Holding Post Issue | 32.93% |
Incorporated in 1969, Elin Electronics Limited is a leading electronics manufacturing services ("EMS") provider. The company is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small/ kitchen appliances in India, and is one of the largest fractional horsepower motors manufacturers in India.
Elin Electronics Limited manufactures and assembles a wide array of products and provides end-to-end product solutions. The company serve under both original equipment manufacturer ("OEM") and original design manufacturer ("ODM") business models.
The company's diversified product portfolio in EMS includes (i) LED lighting, fans and switches including lighting products, ceiling, fresh air and TPW fans, and modular switches and sockets, (ii) small appliances such as dry and steam irons, toasters, hand blenders, mixer grinders, hair dryer and hair straightener; (iii) fractional horsepower motors, which is used in mixer grinder, hand blender, wet grinder, chimney, air conditioner, heat convector, TPW fans etc.; and (iv) other miscellaneous products.
The company has three manufacturing facilities which are strategically located in Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa).
The company also has a centralized R&D centre in Ghaziabad (Uttar Pradesh), focusing on the research and development of all aspects of OEM and ODM models including concept sketching, design refinement, generating optional features and testing.
In Fiscals 2020, 2021 and 2022 and the seven-month period ended October 31, 2022, the company catered to 327, 387, 342 and 297 customers, respectively.
The company's revenue from operations in Fiscals 2020, 2021 and 2022 and the six-month period ended September 30, 2022, was Rs 7,855.84 million, Rs 8,623.78 million, Rs 10,937.54 million and Rs 6,044.57 million.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-19 | 397.73 | 829.74 | 29.07 | 86.64 |
| 31-Mar-20 | 387.63 | 786.37 | 27.49 | 69.89 |
| 31-Mar-21 | 508.31 | 864.9 | 34.86 | 113.77 |
| 31-Mar-22 | 532.61 | 1094.67 | 39.15 | 102.33 |
| 30-Sep-22 | 589.24 | 604.74 | 20.67 | 102.77 |
| Amount in ₹ Crore | ||||
The market capitalization of Elin Electronics IPO is Rs 1226.58 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 29.69 |
The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:
1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
2. Funding capital expenditure towards upgrading and expanding our existing facilities at (i) Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa.
3. General corporate purposes
[Dilip Davda] The company enjoys good relations with marquee clients and has been posting growth in its top and bottom lines. Based on its current financials the issue is fully priced but appears cheap against listed peers. Well-informed investors may consider investment for the medium to long-term rewards. Read detail review...
The Elin Electronics IPO is subscribed 3.09 times on December 22, 2022 7:00:00 PM. The public issue subscribed 2.20 times in the retail category, 4.51 times in the QIB category, and 3.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 4.51 |
| NII | 3.29 |
| bNII (bids above ₹10L) | 2.99 |
| sNII (bids below ₹10L) | 3.89 |
| Retail | 2.20 |
| Total | 3.09 |
| Listing Date | December 30, 2022 |
| BSE Script Code | 543725 |
| NSE Symbol | ELIN |
| ISIN | INE050401020 |
| Final Issue Price | ₹247 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹247.00 |
| ₹243.00 |
| ₹225.60 |
| ₹244.75 |
| ₹227.80 |
| NSE |
|---|
| ₹247.00 |
| ₹244.00 |
| ₹225.60 |
| ₹245.00 |
| ₹227.65 |
Elin Electronics Limited
143, Cotton Street,
Kolkata – 700 007,
West Bengal, India
Phone: +91 011 43000400
Email: cs@elinindia.com
Website: https://www.elinindia.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: elinindia.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Elin Electronics IPO is a main-board IPO of [.] equity shares of the face value of ₹5 aggregating up to ₹475.00 Crores. The issue is priced at ₹234 to ₹247 per share. The minimum order quantity is 60 Shares.
The IPO opens on December 20, 2022, and closes on December 22, 2022.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Elin Electronics IPO using UPI as a payment gateway. Zerodha customers can apply in Elin Electronics IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Elin Electronics IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Elin Electronics IPO opens on December 20, 2022 and closes on December 22, 2022.
Elin Electronics IPO lot size is 60 Shares, and the minimum amount required is ₹14,820.
You can apply in Elin Electronics IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Elin Electronics IPO will be done on Tuesday, December 27, 2022, and the allotted shares will be credited to your demat account by Thursday, December 29, 2022. Check the Elin Electronics IPO allotment status.
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