Elin Electronics Limited has come up with an initial public offer (IPO). It will open on December 20-22 at Rs.234-247 a share. The IPO issue size is around Rs.475.00 crores. The minimum bid will be for 60 shares and in its multiples thereafter.
Elin Electronics Limited was incorporated in the year 1969. It is a leading electronics manufacturing services (“EMS”) manufacturer of end-to-end product solutions for major brands of lighting, fans, and small/ kitchen appliances in India. Also, it is one of the largest fractional horsepower motors manufacturers in India.
The company manufactures and assembles a wide array of products and provides end-to-end product solutions. It serves under both original equipment manufacturer (“OEM”) and original design manufacturer (“ODM”) business models. Under the OEM model, it manufactures and supplies products basis designs developed by customers, who then further distribute these products under their own brands. Under the ODM model, in addition to manufacturing, it conceptualizes and designs the products which are then marketed to customers’ prospective customers under their brands.
Elin Electronics offers innovative solutions to its customers, which include leading international and national consumer electronics brands. Its comprehensive solution suite includes global sourcing, fabrication of components and parts, captive manufacturing and assembly, quality testing, packaging and logistics support.
Website – https://www.elinindia.com/
|Kamal Sethia – 5.24%||Kishore Sethia – 8.56%|
|Gaurav Sethia – 7.38%||Sanjeev Sethia – 2.15%|
|Sumit Sethia – 2.03%||Suman Sethia – 9.30%|
|Vinay Kumar Sethia – 1.49%||Vasudha Sethia – 2.54%|
|Pre-Issue Shareholding – 53.98%||Post-Issue Shareholding – 32.93%|
Strength & Weakness
|Leadership in fractional horsepower motors||Highly dependent on certain customers|
|Diversified products||Past profitability ratios have been low|
|Entrenched relationships with customers||To incur significant capital expenditure in the future|
|High degree of backward integration||Success dependent upon certain quality accreditations|
|Consistent track record of financial performance||No long-term purchase commitments from customers|
|Established market position in key verticals||Entered into related party transactions|
|Enhanced quality of products||Success is dependent on senior management|
|Small Appliances||FPH Motors|
|Fans||Medical Diagnostic Device|
|Year||Revenue (in Crore)||Profit (in Crore)|
Objects of Issue
1) The Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.
2) Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
3) Funding capital expenditure towards upgrading and expanding the company’s existing facilities at Ghaziabad, Uttar Pradesh, and Goa.
4) General corporate purposes.
Elin Electronics IPO Lot Size
Elin Electronics IPO Details
|IPO Opening Date||December 20, 2022|
|IPO Closing Date||December 22, 2022|
|Face Value||Rs.5 per Equity Share|
|IPO Price||Rs.234-247 per share|
|Market Lot||60 shares|
|Minimum Order Quantity||60 shares|
|Listing At||NSE, BSE|
|Fresh Issue||Rs.175.00 Crore|
|Offer for Sale||Rs.300.00 Crore|
|Issue Size||Up to Rs.475.00 Crore|
|QIB Shares Offered||50% of the offer|
|Retail Shares Offered||35% of the offer|
|NII/HNI Shares Offered||15% of the offer|
Elin Electronics IPO Timetable
|IPO Date||December 20-22, 2022|
|Allotment Date||December 27, 2022|
|Initiation of Refunds||December 28, 2022|
|Credit of share to Demat a/c||December 29, 2022|
|IPO Listing Date||December 30, 2022|
Elin Electronics IPO GMP
|The current GMP is around Rs.42|
KFin Technologies – https://ris.kfintech.com/ipostatus/
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