All that you should know about the Company before applying for the IPO.
The public issue of equity shares of ELIN ELECTRONICS LIMITED will open for subscription on December 20, 2022 and closes on December 22, 2022. It is expected to list on the stock exchanges on December 30, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Incorporated in 1982, the company (Elin) is a leading electronics manufacturing services manufacturer of end-to end products 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 manufactures and assemble a wide array of products and provides end-to-end product solutions. The key business verticals include LED lighting, fans and switches, small appliances (such as dry and steam irons, toasters, hand blenders, mixer grinders, hair dryer and hair straightener), Fractional horsepower motors (which are used in home appliances), Medical diagnostic cartridges and Moulded and sheet metal parts and components.
Elin also manufactures medical diagnostic cartridges for use in diagnostic devices, and plastic moulded and sheet metal parts and components, largely for customers in the auto ancillary and consumer durables sec-tors. They manufacture and sell fractional horsepower motors in their own brand name “Elin”.
Elin serves under two business models:
Elin has 3 manufacturing facilities which are strategically located in Ghaziabad (Uttar Pradesh), Baddi (Hima-chal Pradesh) and Verna (Goa). They also have a centralized R&D centre in Ghaziabad and their R&D team alone consisted of 171 employees, including engineers, designers and other workers. Some of their key cus-tomers are Eveready, Philips, Bosch, Faber, Panasonic, Usha, and IFB.
Mangi Lall Sethia, Kamal Sethia, Kishore Sethia, Gaurav Sethia, Sanjeev Sethia, Sumit Sethia, Suman Sethia, Vasudha Sethia and Vinay Kumar Sethia
Given below are the objectives of the Company –
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
|IPO Size||₹ 475 Crore|
|Offer Mix||Fresh Issue ₹ 175 Crore + Offer For Sell ₹ 300 Crore|
|Price Band||₹ 234 - ₹ 247|
|Lot Size||60 Shares (& in multiples thereof)|
|Face Value||₹ 5|
|Application Amount||Min. ₹ 14,820 (1 lot) | Max. ₹ 1,92,660 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||KFin Technologies Limited|
|Cut-off time for UPI Mandate Confirmation||22-December-2022 (up to 05:00 PM)|
₹ 237.50 Crore
(50% of the Issue Size)
₹ 71.25 Crore
(15% of the Issue Size)
₹ 166.25 Crore
(35% of the Issue Size)
|IPO Opens||December 20, 2022|
|IPO Closes||December 22, 2022|
|Finalization of the basis of allotment||December 27, 2022|
|Unblocking of funds / Initiation of refunds||December 28, 2022|
|Credit of equity shares to Demat accounts||December 29, 2022|
|Listing of equity shares||December 30, 2022|
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