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Elin Electronics Limited IPO (Elin Electronics IPO) Detail

Dec 20, 2022 - Dec 22, 2022

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 Financials

Elin Electronics Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxTotal Borrowing
31-Mar-19397.73829.7429.0786.64
31-Mar-20387.63786.3727.4969.89
31-Mar-21508.31864.934.86113.77
31-Mar-22532.611094.6739.15102.33
30-Sep-22589.24604.7420.67102.77
Amount in β‚Ή Crore

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 IPO Details

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 Offered50% of the Offer
NII (HNI) Shares Offered15% of the Offer
Retail Shares Offered35% 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 Tentative Timetable

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

Elin Electronics IPO Lot Size

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

Elin Electronics IPO Promoter Holding

Pre Issue Share Holding 53.98%
Post Issue Share Holding 32.93%

Elin Electronics IPO Review

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...


Elin Electronics IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
QIB4.51
NII3.29
    bNII (bids above ₹10L)2.99
    sNII (bids below ₹10L)3.89
Retail2.20
Total3.09

Elin Electronics IPO Prospectus

Elin Electronics IPO Rating

736
4.0
Rating:Rated 4.0 stars
Vote Here ...

Elin Electronics IPO Listing Date

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

Listing Day Trading Information

.
IPO 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

Company Contact Information

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/

Elin Electronics IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: elinindia.ipo@kfintech.com
Website: https://karisma.kfintech.com/

Elin Electronics IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Elin Electronics IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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.

The Elin Electronics IPO listing date is on Friday, December 30, 2022.
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Elin Electronics IPO Message Board

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592 Comments

272. Why locked |   Link |Jan 25, 2023 7:11:52 PM
𝘘𝘢𝘒𝘳𝘡𝘦𝘳𝘭𝘺 𝘳𝘦𝘴𝘢𝘭𝘡 @22𝘧𝘦𝘣.
272.1. Why locked |   Link |Jan 26, 2023 6:44:56 AM
𝘚𝘰𝘳𝘳𝘺 10 𝘧𝘦𝘣.
271. Abhijeet Kumar |   Link |Jan 16, 2023 2:23:30 PM
As i had earlier told on friday. ELIN has made the bottom and strong funds like SBI MF and Kotak MF are aggresively accumlating it. So dont sell it and in case u have funds try to buy more for big upmove in this fundamentally strong company
271.1. Hrishikeh Gaikwad |   Link |Jan 16, 2023 8:15:34 PM
rule no. 1 never average a losing position even if you believe that it may go in your favour
271.2. Abhijeet Kumar |   Link |Jan 16, 2023 8:42:19 PM
@hrishikesh your rule is correct only if u took just a trading bet. In investing you always increase your position if company is good and price fall is not justified. It is upto u now to decide whether ur position was trading bet or investment. If it was trading bet that u should put a sl or small target and get out
270. Abhijeet Kumar |   Link |Jan 14, 2023 7:07:34 PM
ELIN seems to have made the bottom. Fundamentally the stock is good and with SBI MF which is largest MF is continuing to accumulate the share the company has potential to go upto 400 levels in 1 year time frame.
269. Nilaykumar |   Link |Jan 12, 2023 5:03:39 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Elin to investors and traders ☻

269.1. Why locked |   Link |Jan 13, 2023 3:52:25 PM
𝘞𝘰𝘳𝘴𝘡 π˜₯𝘒𝘺𝘴 𝘒𝘳𝘦 𝘰𝘷𝘦𝘳 𝘯𝘰𝘸.
269.2. Nilaykumar |   Link |Jan 13, 2023 5:15:52 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
It should be : )
268. Sanchit Jain |   Link |Jan 12, 2023 2:34:26 PM
Do know whats wrong with this stock? Fundamentally, the company looks fine. Experts, does it make sense to average the allotments? How do we see the forthcoming result for the company?
Disclosure: Holding 1 HNI and 3 Retail lots.
268.1. Nilaykumar |   Link |Jan 13, 2023 5:14:29 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Nothing negetive it's fundamentally good and pf stock but shorter and weak share holders exiting in loss causing it free fall like anything.
TTM PE is currently less than 28.

Also Many others have misinformation about shareholding that it's 33% but it's in real 57% I mentioned here: https://www.chittorgarh.com/ipo/ipo_discussions.asp?a=1346&c=570504&ap=0

Promoters claimed in an interview that they will grow 25% cagr in coming 2 years and also fetch little higher margin than current margins of ~8%.
But we can't trust 100% on promotor claim , they couldn't achieve always what they say but we can estimate their potential.
267. Nilaykumar |   Link |Jan 9, 2023 6:57:51 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
SBI mutual fund holding now 7.8% stake

266. Abhijeet Kumar |   Link |Jan 2, 2023 1:54:40 AM
SBI Mutual Fund under | December 30, 2022/| Acquired SBI Mutual Fund
its various schemes Regulation 29(1) of | 28,02,772 Equity| under its various
the SEBI (SAST), | Shares (5.6440%) | paid up share capital on December 29, 2022
265. Prahraju |   Link |Dec 31, 2022 2:20:46 PM
In block deal data fund house purchased and selled in the same day why? Something fishy
265.3. DHARMENDRA SHARMA |   Link |Jan 1, 2023 12:00:22 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Dear Monster zero,
Wish you and your family a very happy & prosperous New Year 2023.
Thanks
265.4. Monster Zero |   Link |Jan 1, 2023 2:11:11 PM
IPO Guru IPO Guru (2600+ Posts, 2300+ Likes)
@Dharmendra Sharma

Thankyou and wish you the same.πŸŽ‰
264. Jaga |   Link |Dec 31, 2022 1:12:22 AM
30-Dec-2022      ELIN      Elin Electronics Limited      COPTHALL MAURITIUS INVESTMENT LIMITED NON ODI ACCOUNT      SELL      5,42,828      231.42      -
30-Dec-2022      ELIN      Elin Electronics Limited      MARWADI CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED      BUY      7,63,494      231.40      -
30-Dec-2022      ELIN      Elin Electronics Limited      MARWADI CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED      SELL      7,63,494      231.97      -
30-Dec-2022      ELIN      Elin Electronics Limited      MORGAN STANLEY ASIA (SINGAPORE) PTE.      SELL      5,00,000      231.60      -
30-Dec-2022      ELIN      Elin Electronics Limited      NK SECURITIES RESEARCH PRIVATE LIMITED      BUY      4,00,710      234.86      -
30-Dec-2022      ELIN      Elin Electronics Limited      NK SECURITIES RESEARCH PRIVATE LIMITED      SELL      4,00,710      234.98      -
30-Dec-2022      ELIN      Elin Electronics Limited      SOCIETE GENERALE      SELL      3,37,897      234.27      -
264.7. PeterEngland |   Link |Jan 2, 2023 9:30:51 AM
@Abhijeet Kumar, thanks a lot for the explaination πŸ™, definitely a great learning for me.

264.8. Abhijeet Kumar |   Link |Jan 2, 2023 10:39:45 AM
Because of these kind of funds who only apply in IPO's for relationship basis i have been continoulsy warning from subscribing in IPO's unless its very good deal. Its better to buy good quality company when they fall fater listing instead of buying junk companies during IPO's. Elin is one of good quality comapnies listed at decent valautions and hence i am recomedning to buy now instead of applying in junk ipos. Earlier i had recomended great quality company bector foods which had fallen to 250 after great listing last year. Now bector foods has recovered and trading at 420.
263. Thiagarajan Ramasamy |   Link |Dec 30, 2022 2:21:46 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Even though discount listing is not unexpected and disappointing, I will hold my 3 Retail lots for at least about 6 months, expecting a recovery within that time frame.
263.2. Thiagarajan Ramasamy |   Link |Dec 30, 2022 2:57:44 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Even though fellow members may have different opinion, I am very well aware of the fact that Market is always supreme and unpredictable , especially in the short term. What I want to convey is that the the tendency to flip the shares on the listing day irrespective of profit or loss will only help the Operators to corner the shares cheaply. Everyone has absolute authority to take his or her decision. Keep sharing your thoughts for the benefit of all.
263.3. SMEIPOKING |   Link |Dec 30, 2022 9:48:48 PM
New Member New Member
Move to AU SMALL FINANCE BANK ........hold.

It will double in 3 years.
262. Pankaj Kumar Srivastava |   Link |Dec 30, 2022 8:44:53 PM
Mainline IPOs are like bollywood movies getting flop after flop. However, SME IPO are south indian movie getting super dupur hit with handsome listing gain.
262.1. G profit |   Link |Dec 31, 2022 11:56:09 AM
Well said. Suits appropriately now
261. Abhijeet Kumar |   Link |Dec 30, 2022 2:48:18 PM
Company is good for investment so dont book loss and average it on declines
261.1. ajit kumar singh |   Link |Dec 30, 2022 8:15:34 PM
New Member New Member
JUST LIKE PAYTM,POLICYBAZAR TYPE AVERAGE
261.2. jay here |   Link |Jan 1, 2023 11:51:14 AM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Averaging rarely rewards investors. Do not get into this trap.Averaging is good only when market falls by 5-10%.
Elin will move either way from this price,Have strict SL.
Keep MintingπŸ’ΈπŸ™
260. Monster Zero |   Link |Dec 30, 2022 5:12:30 PM
IPO Guru IPO Guru (2600+ Posts, 2300+ Likes)
Bought 3.5 lots at 8% discount..
Will keep it until 28-290..
259. Abhijeet Kumar |   Link |Dec 30, 2022 3:59:37 PM
Nothing to panic in the company. Good delivery based buying by a big fund happened during last 30 mins of trade. So expect very good ahead in next few months
258. ajit kumar singh |   Link |Dec 30, 2022 2:30:59 PM
New Member New Member
TGT PRICE TO BUY AT 150-160.....AS PER MY ANALYSIS
258.1. Gingal |   Link |Dec 30, 2022 3:17:12 PM
Can u explain your logic ?
257. AAvi |   Link |Dec 30, 2022 9:49:09 AM
Request someone to please clarify that in Preopen, can someone put sell order (short selling - in case of newly listed).
257.3. UjwalG |   Link |Dec 30, 2022 11:24:29 AM (200+ Posts)
@aavi. Yes it is done in every ipo, fake buy/sell orders to manipulate listing price. If you had look closely today, just before 9:44 am sell volume reduced to half, thus we can say it was fake orders just to manipulate demand supply .Opening prices are always decided by demand and supply, more the supply less the opening price and vice versa.
257.4. Nilaykumar |   Link |Dec 30, 2022 2:56:38 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
@aavi you muat have shares in your demat to sell in pre open , short selling not possible in pre open session upto 10 am.
later also short selling is not allowed on ipo listing but some broker allows it.
256. ajit kumar singh |   Link |Dec 30, 2022 2:46:03 PM
New Member New Member
HOW THEY FOOL INVESTORS BY SAYING "VALUE STOCKS,HOLD FOR LONG TERM".......MOSTLY FOLKS CAME HERE FOR GMP TRAP....NOW MOSTLY EXITS AT 230...GOOD BUY AT 170-175 LEVELS
255. Rajkot Special |   Link |Dec 30, 2022 1:29:53 PM
Third class listing
Promotor smile 😊
Retail investors trapped πŸ˜‚
255.1. PeterEngland |   Link |Dec 30, 2022 2:14:51 PM
And today is good day to say goodbye the market for retail investors πŸ˜‚ (last trading day of the year).
Please don't forget to write the letters 😊
254. Gingal |   Link |Dec 30, 2022 11:00:21 AM
Bought small qty. @ 235 add more in decline. We were standing in queue @ 247 in IPO but not want to buy at discount. I had done same in UNIPART and now in profit..
253. Abhijeet Kumar |   Link |Dec 30, 2022 10:41:29 AM
Listing as expected has not been good. But as company is decent. So no need to panic if you can hold on for long term. It will give atleast 20% upside in next 6 months