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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 |
Elin Electronics Limited IPO Subscription Status Today [Live]
- (QIB) Qualified institutional buyers: 4.51
- (NII) Non-institutional buyers: 3.29
- (RII) Retail Individual buyers: 2.20
- Employees: [.]
- (QIB) Qualified institutional buyers: 4.24
- (NII) Non-institutional buyers: 3.26
- (RII) Retail Individual buyers: 2.09
- Employees: [.]
- (QIB) Qualified institutional buyers: 1.35
- (NII) Non-institutional buyers: 2.20
- (RII) Retail Individual buyers: 1.79
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.01
- (NII) Non-institutional buyers: 1.42
- (RII) Retail Individual buyers: 1.44
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.01
- (NII) Non-institutional buyers: 1.29
- (RII) Retail Individual buyers: 1.33
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.01
- (NII) Non-institutional buyers: 0.99
- (RII) Retail Individual buyers: 1.17
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.01
- (NII) Non-institutional buyers: 0.67
- (RII) Retail Individual buyers: 0.92
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.01
- (NII) Non-institutional buyers: 0.49
- (RII) Retail Individual buyers: 0.68
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.01
- (NII) Non-institutional buyers: 0.43
- (RII) Retail Individual buyers: 0.55
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.00
- (NII) Non-institutional buyers: 0.17
- (RII) Retail Individual buyers: 0.36
- Employees: [.]
- (QIB) Qualified institutional buyers: 0.00
- (NII) Non-institutional buyers: 0.11
- (RII) Retail Individual buyers: 0.25
- Employees: [.]
- (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
- Open a DEMAT Account for free with Angel One if you are a new investor.
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 |
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