Elin Electronics IPO

Elin Electronics IPO | Review

Spread the love

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%

Promoter Holding

Pre-Issue Shareholding – 53.98%Post-Issue Shareholding – 32.93%

Strength & Weakness

Leadership in fractional horsepower motorsHighly dependent on certain customers
Diversified productsPast profitability ratios have been low
Entrenched relationships with customersTo incur significant capital expenditure in the future
High degree of backward integrationSuccess dependent upon certain quality accreditations
Consistent track record of financial performanceNo long-term purchase commitments from customers
Established market position in key verticalsEntered into related party transactions
Enhanced quality of productsSuccess is dependent on senior management


Small AppliancesFPH Motors
LED LightingFlashlights
FansMedical Diagnostic Device


Havells Eveready
Molbio Panasonic


Dixon Technologies
Amber Enterprises

Company Financials

YearRevenue (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

Retail (Min)160Rs.14,820
Retail (Max)13780Rs.1,92,660
S-HNI (Min)14840Rs.2,07,840
B-HNI (Max)684,080Rs.10,07,760

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 IssueRs.175.00 Crore
Offer for SaleRs.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 DateDecember 20-22, 2022
Allotment DateDecember 27, 2022
Initiation of RefundsDecember 28, 2022
Credit of share to Demat a/cDecember 29, 2022
IPO Listing DateDecember 30, 2022

Elin Electronics IPO GMP

The current GMP is around Rs.42

Allotment Status

KFin Technologies – https://ris.kfintech.com/ipostatus/

Book Lead Managers


About the author

Shankar Awale

Hey! I am Shankar Awale an aspiring blogger with an obsession for all things of Finance. This blog is dedicated to help people to learn about Financial Knowledge in easy language.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *