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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 βΉ Crore | ||||
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
| IPO Date | Dec 20, 2022 to Dec 22, 2022 |
| Listing Date | Friday, December 30, 2022 |
| Face Value | ₹5 per share |
| Price | ₹234 to ₹247 per share |
| Lot Size | 60 Shares |
| Issue Size | [.] shares of ₹5 (aggregating up to ₹475.00 Cr) |
| Fresh Issue | [.] shares of ₹5 (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 |
| P/E (x) | 29.69 |
| Market Cap (₹ Cr.) | 1226.58 |
| QIB Shares Offered | 50% of the Offer |
| NII (HNI) Shares Offered | 15% of the Offer |
| Retail Shares Offered | 35% of the Offer |
| 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. |
Elin Electronics IPO opens on Dec 20, 2022, and closes on Dec 22, 2022. The Elin Electronics IPO bid date is from Dec 20, 2022 10.00 A.M. to Dec 22, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Dec 20, 2022 |
| Closing Date | Dec 22, 2022 |
| Basis of Allotment | Dec 27, 2022 |
| Initiation of Refunds | Dec 28, 2022 |
| Credit of Shares to Demat | Dec 29, 2022 |
| Listing Date | Dec 30, 2022 |
The Elin Electronics IPO lot size is 60 shares. A retail-individual investor can apply for up to 13 lots (780 shares or ₹192,660).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,820 |
| Retail (Max) | 13 | 780 | ₹192,660 |
| S-HNI (Min) | 14 | 840 | ₹207,480 |
| B-HNI (Min) | 68 | 4,080 | ₹1,007,760 |
| Pre Issue Share Holding | 53.98% |
| Post Issue Share Holding | 32.93% |
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 Dec 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 | Friday, December 30, 2022 |
| BSE Script Code | 543725 |
| NSE Symbol | ELIN |
| Listing In | B Group of Securities |
| ISIN | INE050401020 |
| IPO Price | ₹247 per share |
| Face Value | ₹5 per share |
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Elin Electronics Limited
143, Cotton Street,
Kolkata β 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://karisma.kfintech.com/
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 8 | 1 | 0 |
| Members | 8 | 1 | 0 |
IPO Broker Recommendations
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 Dec 20, 2022, and closes on Dec 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 Dec 20, 2022 and closes on Dec 22, 2022.
Elin Electronics IPO lot size is 60 Shares and the minimum order quantity is .
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 Dec 27, 2022, and the allotted shares will be credited to your demat account by Dec 29, 2022. Check the Elin Electronics IPO allotment status.
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