Elin Electronics IPO GMP, Price, Dates & Allotment Details 2022
Elin Electronics IPO opens on December 20 and closes on December 22, 2022. According to the DRHP filed in SEBI, the company is planning to raise about 475 crore through this public issue.
One of the biggest fractional horsepower motor producers in India is Elin Electronics, a leading electronics manufacturing services (“EMS”) maker of end-to-end product solutions for major brands of lighting, fans, and small/kitchen appliances.
The following are part of the company’s diverse major EMS product portfolio:
- TPW fans, ceiling fans, fresh air fans, LED lights, fans, and switches, as well as modular switches and plugs;
- Small appliances such toasters, hand blenders, mixer grinders, dry and steam irons, hair dryers, and hair straighteners;
- Wet grinders, air conditioners, heat convectors, TPW fans, chimneys, hand blenders, mixer grinders, etc. all use fractional horsepower motors;
- Terminal blocks for air conditioners, stainless steel blades for mixer grinders, die casting, and radio sets are a few other unrelated products.
Elin Electronics Ltd. produces plastic-moulded and sheet metal parts and components, as well as medical diagnostic cartridges for use in diagnostic instruments, principally for clients in the automotive auxiliary and consumer durables sectors. The business also produces and markets fractional horsepower motors under the name “Elin.”
The business has three strategically positioned production plants in Verna, Baddi, and Ghaziabad, all in Uttar Pradesh (Goa).
Additionally, the business has a centrally situated R&D facility in Ghaziabad, Uttar Pradesh, which is dedicated to the study and development of OEM and ODM models in all their facets, including idea sketching, design improvement, the creation of extra features, and testing.
In the fiscal years 2020, 2021, and 2022 as well as the six-month period that concluded on September 30, 2022, the company’s operating revenue was ₹ 7,855.84 million, ₹ 8,623.78 million, ₹ 10,937.54 million, and ₹ 6,044.57 million, respectively.
Elin Electronics IPO – Noteworthy Highlights
- Based on the company’s overall market, the company is projected to be the largest player in this category, with a market share of 12% in Fiscal 2021. (Source: F&S Report)
- In addition, He is one of the key players in LED lighting and flashlight with EMS market share of approximately 7% in Fiscal 2021,
- Company is 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)
Objects of the Issue
The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:
- 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
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Financial Highlights (Restated)
| Particulars | Period ended on 30th Sep. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Total Assets | 589.24 | 532.61 | 508.31 | 387.63 | 397.73 |
| Total Revenue | 604.74 | 1094.67 | 864.9 | 786.37 | 829.74 |
| Profit After Tax | 20.67 | 39.15 | 34.86 | 27.49 | 29.07 |
| Total Borrowing | 102.77 | 102.33 | 113.77 | 69.89 | 86.64 |
Elin Electronics IPO – Details
According to the DRHP filed in SEBI, the company is planning to raise about 475 crore through this public issue.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 234 to ₹ 247 per share |
| Face Value | ₹ 5 per share |
| Market Lot | 60 shares |
| Issue Size | [.] shares of ₹ 5 (Aggregating up to ₹ 475 Crore) |
| Fresh Issue | [.] shares of ₹ 5 (Aggregating up to ₹ 175 Crore) |
| Offer for Sale | [.] shares of ₹ 5 (Aggregating up to ₹ 300 Crore) |
| QIB Shares Offered | Not less than 50% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
| Retails Shares Offered | Not more than 35% of the Offer |
| Listing At | NSE, BSE |
| Promoters | Mangi Lall Sethia, Kamal Sethia, Kishore Sethia, Gaurav Sethia, Sanjeev Sethia, Sumit Sethia, Suman Sethia, Vasudha Sethia and Vinay Kumar Sethia |
GMP – Elin Electronics IPO
Elin Electronics IPO GMP or Grey Market Premium are available here. The IPO GMP Premium updated day by day for IPOs running period and the GMP rates fluctuate and became stable some time later. The GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates – Elin Electronics IPO
Elin Electronics IPO opens on December 20 and closes on December 22, 2022.
| Opening Date | December 20, 2022 |
| Closing Date | December 22, 2022 |
| Basis of Allotment | December 27, 2022 |
| Initiation of Refunds | December 28, 2022 |
| Credit of shares to Demat A/c | December 29, 2022 |
| Listing Date | December 30, 2022 |
Lot Size – Elin Electronics IPO
The Elin Electronics IPO lot size is 60 shares. A retail-individual investor can apply for up to 13 lots i.e. 780 shares of ₹ 192,660.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 60 | ₹ 14,820 |
| Retail (Maximum) | 13 | 780 | ₹ 192,660 |
| S-HNI (Minimum) | 14 | 840 | ₹ 207,480 |
| B-HNI (Minimum) | 68 | 4,080 | ₹ 1,007,760 |
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Promoters Holdings – Elin Electronics IPO
| Pre-issue Shares Holdings | 53.98% |
| Post-issue Shares Holdings | 32.93 |
SWOT Analysis – Elin Electronics IPO
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. Established market position in key verticals including leadership in fractional horsepower motors. 2. Diversified products resulting in a de-risked business model. 3. Entrenched relationships with a marquee customer base. 4. High degree of backward integration resulting in higher efficiencies, enhanced quality of products and customer retention capability. 5. Consistent and strong track record of financial performance. | 1. Company generates major revenues from top 5 customers. Loss of relationship with any of these customers may have a material effect on revenues of the company. 2. Outstanding litigation against company, promoters and subsidiary. |
| OPPORTUNITIES | THREATS |
| 1. Enhance customer base and relationships through cross-selling and product development. 2. Expand ODM share of the business. 3. Opportunities in operations in medical diagnostics cartridges and manufacturing facilities. | 1. Change in technologies. 2. Prevailing security threat to data and information security. 3. Competition |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Elin Electronics Limited 143, Cotton Street,Kolkata – 700 007, West Bengal, India Phone: +91 011 43000400 Email: [email protected] Website: https://www.elinindia.com/ |
| IPO Registrar | KFin Technologies Limited Phone: 04067162222, 04079611000 Email: [email protected] Website: https://karisma.kfintech.com/ |
| IPO Lead Manager(s) | 1. Axis Capital Limited 2. JM Financial Limited |
FAQ’s
What will be the Elin Electronics IPO lot size?
One lot of Elin Electronics IPO contains 60 shares of ₹ 14,820.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Elin Electronics IPO allotment be available?
The finalization of Basis of Allotment for Elin Electronics IPO will be done on December 27, 2022, and the allotted shares will be credited to your demat account by December 29, 2022. Check the Elin Electronics IPO allotment status.
When will Elin Electronics IPO list on exchanges?
The Elin Electronics IPO shares listing date is December 30, 2022.
How many shares in Elin Electronics IPO Offer are reserved for HNIs and retail investors?
The investors’ portion for QIB - 50%, NII (HNI) – 15%, and Retail – 35%.
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