|Opening Date||20, December 2022|
|Closing Date||22, December 2022|
|Refund Initiation||28, December 2022|
|Listing Date||30, December 2022|
|Face Value||₹5 per equity share|
|IPO Price Band||₹234 to ₹247 per equity share|
|Minimum Order Quantity||60 Shares|
|Issue Size||₹475 Cr|
The month of December saw a couple of IPOs getting listed in the secondary market. Amongst these were Sula Vineyards Ltd ipo, Landmark Cars Ltd and Abans Holdings ipo. While Uniparts Ltd had an unfortunate listing, wherein it listed at a discount of 6.47%, investors are awaiting the listings of Sula Vineyards, which received a happy response from retail and institutional investors. Now, as we come towards the end of this IPO month, there are some IPOs queued to be going live - among which is - Elin Electronics Ltd. In this article, let’s study the details of this IPO which will eventually help you to decide if it’s investment-worthy or not!
Incorporated in 1969, Elin Electronics Ltd 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 is one of the largest fractional horsepower motors manufacturers in India. Based on the overall market, Elin Electronics Ltd is projected to be the largest player in this category, with a market share of 12 % in Fiscal 2021.
Elin Electronics Ltd manufactures and assembles a wide array of products and provides end-to-end product solutions. The company serves under both original equipment manufacturer (“OEM”) and original design manufacturer (“ODM”) business models. Under the OEM model, the company manufactures and supplies products based on designs developed by its customers, who then further distribute these products under their own brands. Under the ODM model, in addition to manufacturing, the EMS company also conceptualizes and designs the products which are then marketed to its customers’ prospective customers under their brands. Elin Electronics Ltd have developed ODM capabilities with respect to lighting products and small appliances.
The financials of the company for the last three financial years are given as below:
|Particulars||Three month period ended Sept 30, 2021||As of and for the Financial Year ended March 31|
|Equity share capital||204.2||68.07||68.07||49.57|
|Revenue from Operations||518.24||862.37||785.55||828.54|
|Profit after Tax||19.33||34.87||27.48||29.07|
|Earnings per Share (diluted)||4.73||8.53||6.73||7.12|
|Return on Equity||7.1||14.23||12.88||15.72|
all numbers stated are in crore, except share data.
Let’s now move on to the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO viz - Elin Electronics Ltd date and its share price.
According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is going live from December 20 and will be available for subscription until December 22, 2022.
The total issue size of the latest Elin Electronics Ltd India Ltd is declared to be ₹475 crores. This is a mix of OFS and Fresh issues. The Fresh issue aggregates to ₹175 crores, while the OFS aggregates up to ₹300 crores.
50% of the offer is for QIBs (Qualified Institutional Buyers), 35% for retail investors, and the balance 15% for NIBs (Non-institutional Investors).
The price band of the company’s upcoming IPO is declared to range between ₹234 to ₹247 per equity share
Since the IPO of Elin Electronics Ltd is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)
The net proceeds of the Issue, i.e. gross proceeds of the Issue are proposed to be utilized in the following manner:
If you wish to become a part of this exciting IPO opportunity, you will need to have an online Demat and trading account, which will help you get shares of your favorite companies. To get an online DEMAT account for Free*, all you have to do is sign-up with Motilal Oswal and get started.
If you are an existing customer with Motilal Oswal, you can now invest in the IPOs in just one click through UPI payment!
It’s all easy. It’s all good.
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