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Elin Electronics IPO

Draft documents were submitted to the SEBI by Elin Electronics Ltd. in order to raise Rs. 475 crores through an IPO.

An offer for sale of up to Rs. 300 crores and a fresh issue of shares worth Rs. 175 crores each comprise the IPO.

The promoters and current stockholders will participate in OFS. It includes shares valued up to Rs. 32,10 crore from Kamal Sethia, Rs. 52,50 crore from Kishore Sethia, Rs. 47,40 crore from Gaurav Sethia, Rs. 12,20 crore from Sanjeev Sethia, Rs. 15,60 crore from Vasudha Sethia, and Rs. 9,10 crore from Vinay Kumar Sethia.

The issue's main managers are Axis Capital and JM Financial. Click here to Apply for Elin Electronics IPO

Opening Date

Dec 20, 2022

Closing Date

Dec 22, 2022

Price Band

₹234 - ₹247

per equity share

Issue Size

₹475 crore

Face Value

₹5

per equity share

Market Lot

60 Shares

Opening Date

Dec 20, 2022

Closing Date

Dec 22, 2022

Price Band

₹234 - ₹247

per equity share

Issue Size

₹475 crore

Face Value

₹5

per equity share

Market Lot

60 Shares

Listing at NSE, BSE

Elin Electronics Limited IPO Important Dates

IPO Open Date Dec 20, 2022
IPO Close Date Dec 22, 2022
Allotment Date Dec 27, 2022
Initiation Of Refunds Dec 28, 2022
Credit Of Shares To
Demat Account
Dec 29, 2022
IPO Listing Date Dec 30, 2022
UPI Mandate Expiry Date Dec 22, 2022

View all upcoming IPOs

Elin Electronics Limited IPO Subscription Status Today [Live]

At 05:27:00 PM.
  • This IPO has been subscribed 3.09x by 05:27 PM on Day 3
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 4.51
    • (NII) Non-institutional buyers: 3.29
    • (RII) Retail Individual buyers: 2.20
    • Employees: [.]
    At 03:33:00 PM.
  • This IPO has been subscribed 2.95x by 03:33 PM on Day 3
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 4.24
    • (NII) Non-institutional buyers: 3.26
    • (RII) Retail Individual buyers: 2.09
    • Employees: [.]
    At 01:22:00 PM.
  • This IPO has been subscribed 1.75x by 01:22 PM on Day 3
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 1.35
    • (NII) Non-institutional buyers: 2.20
    • (RII) Retail Individual buyers: 1.79
    • Employees: [.]
    At 10:18:00 AM.
  • This IPO has been subscribed 1.03x by 10:18 AM on Day 3
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.01
    • (NII) Non-institutional buyers: 1.42
    • (RII) Retail Individual buyers: 1.44
    • Employees: [.]
    At 05:00:00 PM.
  • This IPO has been subscribed 0.95x by 05:00 PM on Day 2
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.01
    • (NII) Non-institutional buyers: 1.29
    • (RII) Retail Individual buyers: 1.33
    • Employees: [.]
    At 03:52:00 PM.
  • This IPO has been subscribed 0.80x by 03:52 PM on Day 2
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.01
    • (NII) Non-institutional buyers: 0.99
    • (RII) Retail Individual buyers: 1.17
    • Employees: [.]
    At 01:22:00 PM.
  • This IPO has been subscribed 0.61x by 01:22 PM on Day 2
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.01
    • (NII) Non-institutional buyers: 0.67
    • (RII) Retail Individual buyers: 0.92
    • Employees: [.]
    At 10:24:00 AM.
  • This IPO has been subscribed 0.45x by 10:24 AM on Day 2
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.01
    • (NII) Non-institutional buyers: 0.49
    • (RII) Retail Individual buyers: 0.68
    • Employees: [.]
    At 05:00:00 PM.
  • This IPO has been subscribed 0.37x by 05:00 PM on Day 1
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.01
    • (NII) Non-institutional buyers: 0.43
    • (RII) Retail Individual buyers: 0.55
    • Employees: [.]
    At 03:38:00 PM.
  • This IPO has been subscribed 0.22x by 03:38 PM on Day 1
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.00
    • (NII) Non-institutional buyers: 0.17
    • (RII) Retail Individual buyers: 0.36
    • Employees: [.]
    At 01:39:00 PM.
  • This IPO has been subscribed 0.15x by 01:39 PM on Day 1
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.00
    • (NII) Non-institutional buyers: 0.11
    • (RII) Retail Individual buyers: 0.25
    • Employees: [.]
    At 10:28:00 AM.
  • This IPO has been subscribed 0.02x by 10:28 AM on Day 1
  • It is a public issue of 14,209,386 equity shares.
  • Status of Subscription
    • (QIB) Qualified institutional buyers: 0.00
    • (NII) Non-institutional buyers: 0.01
    • (RII) Retail Individual buyers: 0.04
    • Employees: [.]

    About Elin Electronics Limited

    One of the biggest makers of fractional horsepower motors in India, the firm is a leading electronics manufacturing services (EMS) provider of end-to-end product solutions. Its product line also includes terminal blocks, stainless steel blades, die casting, radio sets, small appliances, fractional horsepower motors, medical diagnostic cartridges, LED lights, fans, and switches in addition to sheet metal and plastic-moulded parts and components.

    The Indian EMS market is expected to reach a value of Rs. 9,96,300 crores by 2026 with a CAGR of 30.3 per cent, up from a projected value of Rs. 2,65,400 crores in 2021. In 2021, Elin Electronics had a 12% market share. It is one of the major companies in the LED lighting and flashlight sectors, with an EMS market share of 7%, and in the small appliances sector, with an EMS market share of 10.7% in 2021. Three production sites owned by the corporation are strategically positioned in Verna, Himachal Pradesh's Baddi, and Uttar Pradesh's Ghaziabad (Goa). The large-scale setup, which permits bringing efficiency and economies of scale, consists of 149 units of moulding machines and 105 units of power presses.

    Elin Electronics Limited IPO Objectives

    • 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 (collectively, referred to herein as the “Objects”).

    Why should you invest in the Elin Electronics Limited IPO?

    • The global electronics industry has been valued at USD 2,288 billion in 2020. As per Frost & Sullivan analysis, the industry is expected to grow at a CAGR of 5.2 % to reach USD 2,955 billion by 2025.
    • The electronics industry is moving from Original Equipment Manufacturing (OEM) to Original Design Manufacturing (ODM). The share of the ODM business is likely to increase from 10% in 2020 to 13% in 2025.
    • The total electronics market in India is valued at INR 8,863 Billion (USD 120 Billion) in FY21, which is expected to grow at a CAGR of 22.7% to reach INR 24,633 Billion (USD 333 Billion) in FY26.

    Financial Highlights

    Particulars (In Rs. Crores) FY21 FY20 FY19
    Revenue 862.38 785.58 828.55
    EBITDA 69 56.24 58.214
    PAT 34.87 27.49 29.07
    EPS (basic in Rs.) 8.53 6.73 7.12
    RoNW% 13.29% 12.07% 14.61%
    ROCE% 18.55% 17.08% 20.86%
    Total Assets 508.31 387.63 397.73
    Share Capital 6.81 6.81 4.96
    Total Borrowings 113.77 69.89 86.64
    Total Assets 508.31 387.63 397.73
    Net cash inflow from operating activities -33.64 76.81 28.32
    Net Cash flow from investing activities -4.95 -42.42 -31.84
    Net Cash flow from financing activities 34.19 -28.44 -3.72

    How to apply for Elin Electronics Limited IPO?

    To start trading, investors have two ways to choose from. They either can opt for UPI or create a Demat account. The details are as follows:

    UPI

    • Step 1: Link a UPI ID to your bank account
    • Step 2: Add your UPI ID to your Demat account
    • Step 3: Subscribe for Elin Electronics IPO and accept the payment request on your UPI ID

    Demat Account

    Elin Electronics Limited Noteworthy Highlights:

    • Elin Electronics 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, and are one of the largest fractional horsepower motors manufacturers in India.
    • Based on the overall market, they are projected to be the largest players in this category, with a market share of 12 % in Fiscal 2021. (Source: F&S Report)
    • Elin Electronics is one of the key players in LED lighting and flashlight with an EMS market share of approximately 7% in Fiscal 2021.
    • Finally, they are also one of the key players in the small appliances vertical with EMS market share of 10.7% in Fiscal 2021. (Source: F&S Report)

    The Brand’s Pros & Cons:

    Pros Cons
    Has a well-established and firm grip on market positions in important industries, including leadership in motors with fractional horsepower. There is no certainty that the company will be able to keep doing business with its (new or current) clients once contracts are completed; this might have a negative impact on profitability and operational outcomes.
    A company approach that is less risky as a consequence of product diversification. The business depends on the production facilities. Therefore, any interruption to their ongoing activities would significantly harm their business and profitability.
    Established connections with a significant consumer base. Reliance on outside suppliers might result in timetable delays and increased input costs if the company does not make the best use of its skilled backward integration to advance and support the business (on short notice).
    High levels of backward integration lead to improved productivity, product quality, and client retention. The EMS sector is quickly evolving and changing. The business might not be able to stay up with the most recent trends or incorporate new ODM capabilities and technologies.
    A solid track record of financial achievement that is consistent. Technical knowledge could not be sufficiently shielded by intellectual property but rather solely by secrecy, which can't keep information secret for very long and could cause the company to lose its competitive edge.

    Competitive Analysis: Market Peers

    Name of Company Face Value (Rs. Per Share) Revenue, for FY2021 (in Rs. crores) EPS (Basic) P/E NAV (Rs. per share) RONW (%)
    Elin Electronics Limited 2 864.9 8.53 NA 69.16 6.84%
    Dixon Technologies (India) Ltd 5 6449.75 27.49 187.2 125.89 21.67
    Amber Enterprises India Limited 10 3063.62 24.96 134.02 486.92 5.08

    Elin Electronics Limited IPO FAQs

    What is Elin Electronics Limited IPO?

    The capital markets regulator Sebi has given Elin Electronics Limited (EEL) permission to begin its Rs 475 crore initial public offering (IPO). Elin Electronics is a national capital-based provider of electronics manufacturing services. In November 2021, the firm submitted its DRHP to Sebi.

    When will the Elin Electronics Limited IPO allotment be available?

    The IPO share will be allotted on December 30, 2022.

    What will be the Elin Electronics Limited IPO lot size?

    Elin Electronics’ one lot consists of 60 shares.

    When will Elin Electronics Limited IPO open for subscription?

    The IPO subscription window will open on December 20, 2022.

    What minimum lot size can retail investors subscribe to?

    The minimum investment size is one lot for retail investors.

    When will Elin Electronics Limited list on exchanges?

    Usually, it takes ten working days from the last day of subscription to finally list the IPOs on the stock exchanges. Elin Electronics IPO shares will list on the exchanges on December 30, 2022.

    How to check the allotment status of Elin Electronics Limited IPO?

    Angel One investors can log in to their account to check the allotment status of Elin Electronics Limited IPO.

    Which exchanges will Elin Electronics Limited IPO list on?

    The IPO will list on NSE and BSE exchanges.

    Is it possible for NRIs to use Angel One App to apply for Elin Electronics Limited IPO?

    NRIs can apply for Elin Electronics Limited IPO through Angel One App using their UPI app if their bank supports it for NRE/NRO accounts.

    Is it necessary to approve a UPI mandate request immediately?

    Approving the UPI payment is the final step of the IPO application. Investors are allowed T+1 days to approve the payment on UPI.

    How to apply for this Elin Electronics Limited IPO via the Angel One App?

    To apply from the Angel One app, find Elin Electronics Limited in the active IPO list and click on apply.

    What is the minimum order quantity for Elin Electronics Limited IPO?

    The minimum order size is one lot consisting of 60 shares.

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