Bookbuilding IPO | ₹475 Cr | Listed at BSE, NSE | Tue, Dec 20, 2022 - Thu, Dec 22, 2022
Elin Electronics IPO is a book build issue of ₹475.00 crores. The issue is a combination of fresh issue of 0.71 crore shares aggregating to ₹175.00 crores and offer for sale of 1.21 crore shares aggregating to ₹300.00 crores.
Elin Electronics IPO bidding started from Dec 20, 2022 and ended on Dec 22, 2022. The allotment for Elin Electronics IPO was finalized on Dec 27, 2022. The shares got listed on BSE, NSE on Dec 30, 2022.
Elin Electronics IPO price band is set at ₹247 per share. The lot size for an application is 60. The minimum amount of investment required by an retail is ₹14,820 (60 shares) (based on upper price). The lot size investment for sNII is 14 lots (840 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (4,080 shares), amounting to ₹10,07,760.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Elin Electronics IPO RHP for detailed Information.
IPO Open
Tue, Dec 20, 2022
IPO Close
Thu, Dec 22, 2022
Issue Price
₹247 per share
Market Cap (Pre-IPO)
₹1,226.58 Cr
| IPO Date | 20 to 22 Dec, 2022 |
| Listed on | Fri, Dec 30, 2022 |
| Face Value | ₹5 per share |
| Price Band | ₹234 to ₹247 |
| Issue Price | ₹247 per share |
| Lot Size | 60 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,92,30,746 shares (agg. up to ₹475 Cr) |
| Fresh Issue | 70,85,020 shares (agg. up to ₹175 Cr) |
| Offer for Sale | 1,21,45,726 shares of ₹5 (agg. up to ₹300 Cr) |
| Share Holding Pre Issue | 4,25,74,200 shares |
| Share Holding Post Issue | 4,96,59,220 shares |
| BSE Script Code / NSE Symbol | 543725 / ELIN |
| ISIN | INE050401020 |
Elin Electronics IPO offers total 1,92,30,746 shares. Out of which 96,15,372 (50.00%) allocated to QIB, 38,46,149 (20.00%) allocated to QIB (Ex- Anchor), 28,84,612 (15.00%) allocated to NII 67,30,762 (35.00%) allocated to RII and 57,69,223 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 96,15,372 (50.00%) | NA |
| − Anchor Investor Shares Offered | 57,69,223 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 38,46,149 (20.00%) | NA |
| NII (HNI) Shares Offered | 28,84,612 (15.00%) | NA |
| − bNII > ₹10L | 19,23,075 (10.00%) | 2,289 |
| − sNII < ₹10L | 9,61,537 (5.00%) | 1,144 |
| Retail Shares Offered | 67,30,762 (35.00%) | 1,12,179 |
| Total Shares Offered | 1,92,30,746 (100.00%) |
Investors can bid for a minimum of 60 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,820 |
| Retail (Max) | 13 | 780 | ₹1,92,660 |
| S-HNI (Min) | 14 | 840 | ₹2,07,480 |
| S-HNI (Max) | 67 | 4,020 | ₹9,92,940 |
| B-HNI (Min) | 68 | 4,080 | ₹10,07,760 |
Elin Electronics IPO raises ₹142.50 crore from anchor investors. Elin Electronics IPO Anchor bid date is December 19, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 19, 2022 |
| Shares Offered | 57,69,223 |
| Anchor Portion (₹ Cr.) | 142.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 26, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 27, 2023 |
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 | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|
| Assets | 589.24 | 532.61 | 508.31 | 387.63 | 397.73 |
| Total Income | 604.74 | 1,094.67 | 864.90 | 786.37 | 829.74 |
| Profit After Tax | 20.67 | 39.15 | 34.86 | 27.49 | 29.07 |
| NET Worth | 0.00 | 0.00 | 0.00 | 0.00 | |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 102.77 | 102.33 | 113.77 | 69.89 | 86.64 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or part, of certain borrowings availed by the Company | 88.00 |
| 2 | Funding capital expenditure towards upgrading and expanding the existing facilities at (i) Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa; and | 37.59 |
| 3 | General corporate purpose | 39.02 |
| KPI | |
|---|---|
| ROE | 13.85 |
| ROCE | 15.82 |
| Debt/Equity | 0.32 |
| RoNW | 12.92 |
| PAT Margin | 3.58% |
| EBITDA Margin | 7.31% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.59 | |
| P/E (x) | 29.69 | |
| Promoter Holding | 53.98% | 32.93% |
| Market Cap | ₹1,226.58 Cr. |
The Elin Electronics IPO is subscribed 3.09 times on December 22, 2022 7:00:00 PM (Day 3). The public issue subscribed 2.2 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 4.51 | 40,59,824 | 1,83,03,120 |
| NII | 3.29 | 30,44,869 | 1,00,22,100 |
| bNII (bids above ₹10L) | 2.99 | 20,29,912 | 60,73,800 |
| sNII (bids below ₹10L) | 3.89 | 10,14,957 | 39,48,300 |
| Retail | 2.2 | 71,04,693 | 1,56,42,660 |
| Total | 3.09 | 1,42,09,386 | 4,39,67,880 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 14.16 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs (2)(3)(4) | 2.27 |
| 3 | Fees payable to the Registrar to the Offer | 0.07 |
| 4 | Others | |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses. | 2.67 |
| 6 | Printing and stationery expenses | 1.44 |
| 7 | Advertising and marketing expenses | 1.87 |
| 8 | Fees payable to legal counsels | 4.10 |
| 9 | Miscellaneous | 1.57 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹247.00 | ₹247.00 |
| Open | ₹243.00 | ₹244.00 |
| Low | ₹225.60 | ₹225.60 |
| High | ₹244.75 | ₹245.00 |
| Last Trade | ₹227.80 | ₹227.65 |
Lead Manager Reports
Elin Electronics IPO is a main-board IPO of 1,92,30,746 equity shares of the face value of ₹5 aggregating up to ₹475 Crores. The issue is priced at ₹247 per share. The minimum order quantity is 60.
The IPO opens on Tue, Dec 20, 2022, and closes on Thu, Dec 22, 2022.
Kfin Technologies Ltd. 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 Tue, Dec 20, 2022 and closes on Thu, Dec 22, 2022.
Elin Electronics IPO lot size is 60, and the minimum amount required for application is ₹14,820.
You can apply in Elin Electronics IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Thu, Dec 29, 2022. Check the Elin Electronics IPO allotment status.
The Elin Electronics IPO listing date is on Fri, Dec 30, 2022.
