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:
|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.