Everything you need to know about the Elin Electronics Limited IPO

Elin Electronics Limited is a leading manufacturer of end-to-end product solutions for major brands of lighting, fans and small/ kitchen appliances in India. It is also one of the largest fractional horsepower motors manufacturers in India with a market share of 12% in Fiscal 2021 which they sell under their own name ‘Elin’.

It is one of the key players in LED lighting and flashlight along with small appliances with a market share of approximately 7% and 10.7% respectively, in Fiscal 2021.

They follow original equipment manufacturer (“OEM”) and original design manufacturer (“ODM”) business models and their customers under their main verticals are:

Business Verticals Brands
LED lighting, fans and switches Signify Innovations and Eveready
Small appliances Philips, Bosch, Faber, Panasonic and Usha
Fractional horsepower motors Havells, Bosch, Faber, Panasonic, Preethi (owned by Philips), Groupe SEB (Maharaja brand) and Usha
Medical diagnostic cartridges Molbio Diagnostics Private Limited
Moulded and sheet metal parts and components Denso and IFB

Objects of the issue

It proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:

  1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
  2. Funding capital expenditure towards upgrading and expanding its existing facilities.
  3. General corporate purposes

Financial Snapshot (Rs in Cr)

Period Ended Total revenue EBIDTA PAT EPS Total Assets
September 30, 2022 604.74 43.37 20.67 5.06 589.24
March 31, 2022 1094.67 79.93 39.15 9.59 532.61
March 31, 2021 864.9 69.00 34.86 8.53 508.31
March 31, 2020 786.37 56.24 27.49 6.73 387.63

For more information, you can check the IPO Prospectus filed by the company :point_down:

Important information regarding the IPO

Issue Period 20th December - 22nd December 2022
Price Band ₹ 234-247
Minimum Bid Quantity 60 and multiples thereof
Face Value ₹ 5
Number of Shares 40,983,607 shares
Issue size ₹ 475 Cr
Date of Allotment 27th December, 2022
Initiation of Refund 28th December, 2022
Credit of shares 29th December, 2022
Date of Listing 30th December, 2022
Mandate end date 6th January, 2023
Anchor Investors Lock-in End Date 22nd January, 2023

How do I apply for Elin Electronics Limtied IPO?

You can apply for it using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for Elin Electronics Limited IPO?

You can check the allotment status on the website of the Registrar and Transfer agent .

Alternatively, you can also check the allotment status on the NSE website.