Elin Electronics IPO

Elin Electronics IPO

 Elin Electronics IPO will open for subscription from 20 December 2022. the company aims for an issue size of ₹475 Cr through this IPO.

About Company

The company 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. It is also among the largest fractional horsepower motor manufacturers in India. In addition, it is one of the key players in LED lighting and flashlight with an EMS market share of approximately 7% in Fiscal 2021.

Elin 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, the company manufactures and supplies products basis designs developed by its customers. Under the ODM model, in addition to manufacturing, the company conceptualizes and designs the products for its clients.

Its 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 such as terminal block for air conditioners, stainless steel blade for mixer grinders, die casting, radio sets.

Basic details about the company

Full nameElin Electronics Limited
SectorCapital Goods
IndustryEngineering – Industrial Equipments
Company Websitehttps://www.elinindia.com/

The objective of the Issue

  • Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
  • Funding capital expenditure towards upgrading and expanding our existing facilities at (i) Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa.
  • General corporate purposes

Major Competitive strengths

  • Strong management team.
  • Diversified product portfolio.
  • Wide distribution and business network

IPO Timetable

IPO Opening date20 December 2022
IPO Closing22 December 2022
Basis of Allotment27 December 2022
Initiation Refund28 December 2022
Credit to Demat Account29 December 2022
Listing Date30 December 2022

IPO details

Issue typeBook Built Issue IPO
IPO issue size₹475.00 Cr
Fresh Issue₹175.00 Cr
Offer for sale₹300.00 Cr
Face value₹5 per share
Price Band₹234 to ₹247 per share
Lot size60 Shares
Retail Allocation35% 
Listing ExchangeBSE, NSE

IPO Lot Size

Retail (Min)160₹14,820
Retail (Max)13780₹192,660
S-HNI (Min)14840₹207,480
B-HNI (Min)684,080₹1,007,760

Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Financial Performance

 FY 2019FY 2020FY 2021FY 2022H1 FY 2023
Net income29.0727.4934.8639.1520.67
Margin (%)3.513.504.043.733.42
(Amount in ₹ Crores)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio24.40 – 25.76
RONW (%)12.0713.2912.92
ROCE (%)15.4414.9015.82

Company Promoters

  • Mangi Lall Sethia
  • Kamal Sethia
  • Kishore Sethia
  • Gaurav Sethia
  • Sanjeev Sethia
  • Sumit Sethia
  • Suman Sethia
  • Vasudha Sethia
  • Vinay Kumar Sethia

Promoter Holding

Pre Issue Share Holding53.98%
Post Issue Share Holding32.93%

Lead Manager(s)

  • Axis Capital Limited
  • JM Financial Limited

IPO Registrar

Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
 +91 40 6716 2222

Contact Details

4771, Bharat Ram Road,
23, Daryaganj, New Delhi – 110002
Phone: +91 011 43000400
Email: cs@elinindia.com
Website: www.elinindia.com

Allotment Status

Elin Electronics IPO allotment is now available on KFin Tech website. Click on this link to get allotment status.

Final thoughts

Elin Electronics IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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