Elin Electronics Limited IPO Detail
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.
Company Promoters
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.IPO Details
| IPO Opening Date | Dec 20, 2022 |
| IPO Closing Date | Dec 22, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per equity share |
| IPO Price | ₹234 - 247 per equity share |
| Market Lot | 60 Shares |
| Min Order Quantity | 60 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹475.00 Cr |
| Fresh Issue | ₹175.00 Cr |
| Offer for Sale | ₹300.00 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.01x | - | - | 0.43x | 0.55x | 0.37x |
| Day 2 | 0.02x | - | - | 1.3x | 1.34x | 0.95x |
| Day 3 | 4.51x | - | - | 3.27x | 2.13x | 3.06x |
IPO Tentative Timetable
The Elin Electronics Limited IPO open date is Dec 20, 2022, and the close date is Dec 22, 2022. The issue may list on Dec 30, 2022.
| IPO Open Date | Dec 20, 2022 |
| IPO Close Date | Dec 22, 2022 |
| Basis of Allotment Date | Dec 27, 2022 |
| Initiation of Refunds | Dec 28, 2022 |
| Credit of Shares to Demat Account | Dec 29, 2022 |
| IPO Listing Date | Dec 30, 2022 |
IPO Lot Size
The Elin Electronics Limited IPO market lot size is 60 shares. A retail-individual investor can apply for up to 13 lots (780 shares or ₹192660).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 60 | ₹14820 |
| Maximum | 13 | 780 | ₹192660 |
IPO Promoter Holding
| Pre Issue Share Holding | 53.98% |
| Post Issue Share Holding | 32.93% |
Company Financials:
For the year/period ended (₹ in Crore)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 508.31 | 864.9 | 34.86 |
| 31-Mar-22 | 532.61 | 1094.67 | 39.15 |
| 30-Sep-22 | 589.24 | 604.74 | 20.67 |
Objects of the Issue:
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
Elin Electronics Limited IPO Registrar:
KFin Technologies Limited
Elin Electronics Limited IPO Lead Manager(s):
Axis Capital Limited JM Financial Limited
Company Contact Information:
Elin Electronics Limited
143, Cotton Street, Kolkata
West Bengal
India
