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:
- Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
- Funding capital expenditure towards upgrading and expanding its existing facilities.
- 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 
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.