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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 ₹247.00 per share . The lot size for an application is 60. The minimum amount of investment required by an retail is ₹14,040 (60 shares). 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 Date | December 20, 2022 to December 22, 2022 |
| Listing Date | December 30, 2022 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹234 to ₹247 per share |
| Issue Price Final | ₹247 per share |
| Lot Size | 60 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,92,30,746 shares (aggregating up to ₹475.00 Cr) |
| Fresh Issue | 70,85,020 shares (aggregating up to ₹175.00 Cr) |
| Offer for Sale | 1,21,45,726 shares of ₹5 (aggregating up to ₹300.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,25,74,200 shares |
| Share Holding Post Issue | 4,96,59,220 shares |
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, 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 | Maximum 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%) |
Elin Electronics IPO raises ₹142.50 crore from anchor investors. Elin Electronics IPO Anchor bid date is December 19, 2022. Elin Electronics IPO Anchor Investors list
| Bid Date | December 19, 2022 |
| Shares Offered | 57,69,223 |
| Anchor Portion Size (In Cr.) | 142.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 26, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 27, 2023 |
Elin Electronics IPO opens on December 20, 2022, and closes on December 22, 2022.
| IPO Open Date | Tue, Dec 20, 2022 |
| IPO Close Date | Thu, Dec 22, 2022 |
| Tentative Allotment | Tue, Dec 27, 2022 |
| Initiation of Refunds | Wed, Dec 28, 2022 |
| Credit of Shares to Demat | Thu, Dec 29, 2022 |
| Tentative Listing Date | Fri, Dec 30, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 22, 2022 |
Investors can bid for a minimum of 60 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹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...
| Listing Date | December 30, 2022 |
| BSE Script Code | 543725 |
| NSE Symbol | ELIN |
| ISIN | INE050401020 |
| Final Issue Price | ₹247 per share |
| BSE Listing Group | B |
Elin Electronics Ltd.
143, Cotton Street,
Kolkata – 700 007,
West Bengal, India
Kolkata, West Bengal
Phone: +91 011 43000400
Email: cs@elinindia.com
Website: https://www.elinindia.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: elinindia.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Elin Electronics IPO is a main-board IPO of 1,92,30,746 equity shares of the face value of ₹5 aggregating up to ₹475.00 Crores. The issue is priced at ₹247 per share. The minimum order quantity is 60.
The IPO opens on December 20, 2022, and closes on December 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 December 20, 2022 and closes on December 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 Thursday, December 29, 2022. Check the Elin Electronics IPO allotment status.
The Elin Electronics IPO listing date is on Friday, December 30, 2022.
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