Incorporated in 1969, Elin Electronics Limited is a leading electronics manufacturing services (“EMS”) provider. The company is a 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.
Elin Electronics Limited manufactures and assembles a wide array of products and provides end-to-end product solutions. The company serve under both original equipment manufacturer (“OEM”) and original design manufacturer (“ODM”) business models.
The company’s diversified product portfolio in EMS includes (i) LED lighting, fans and switches including lighting products, ceiling, fresh air and TPW fans, and modular switches and sockets, (ii) small appliances such as dry and steam irons, toasters, hand blenders, mixer grinders, hair dryer and hair straightener; (iii) fractional horsepower motors, which is used in mixer grinder, hand blender, wet grinder, chimney, air conditioner, heat convector, TPW fans etc.; and (iv) other miscellaneous products.
The company has three manufacturing facilities which are strategically located in Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa).
The company also has a centralized R&D centre in Ghaziabad (Uttar Pradesh), focusing on the research and development of all aspects of OEM and ODM models including concept sketching, design refinement, generating optional features and testing.
In Fiscals 2020, 2021 and 2022 and the seven-month period ended October 31, 2022, the company catered to 327, 387, 342 and 297 customers, respectively.
The company’s revenue from operations in Fiscals 2020, 2021 and 2022 and the six-month period ended September 30, 2022, was Rs 7,855.84 million, Rs 8,623.78 million, Rs 10,937.54 million and Rs 6,044.57 million.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-19 | 397.73 | 829.74 | 29.07 | 86.64 |
| 31-Mar-20 | 387.63 | 786.37 | 27.49 | 69.89 |
| 31-Mar-21 | 508.31 | 864.9 | 34.86 | 113.77 |
| 31-Mar-22 | 532.61 | 1094.67 | 39.15 | 102.33 |
| 30-Sep-22 | 589.24 | 604.74 | 20.67 | 102.77 |
| Amount in ₹ Crore |
Objects of the Issue
The company 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 our existing facilities at (i) Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa.
3. General corporate purposes
Elin Electronics IPO Details
| IPO Date | Dec 20, 2022 to Dec 22, 2022 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price | ₹234 to ₹247 per share |
| Lot Size | 60 Shares |
| Issue Size | [.] shares of ₹5 (aggregating up to ₹475.00 Cr) |
| Fresh Issue | [.] shares of ₹5 (aggregating up to ₹175.00 Cr) |
| Offer for Sale | [.] shares of ₹5 (aggregating up to ₹300.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 50% of the Offer |
| NII (HNI) Shares Offered | 15% of the Offer |
| Retail Shares Offered | 35% of the Offer |
| Company Promoters | Mangi Lall Sethia, Kamal Sethia, Kishore Sethia, Gaurav Sethia, Sanjeev Sethia, Sumit Sethia, Suman Sethia, Vasudha Sethia and Vinay Kumar Sethia are the company promoters. |
Elin Electronics IPO Tentative Timetable
Elin Electronics IPO opens on Dec 20, 2022, and closes on Dec 22, 2022. The Elin Electronics IPO bid date is from Dec 20, 2022 10.00 A.M. to Dec 22, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Dec 20, 2022 |
| Closing Date | Dec 22, 2022 |
| Basis of Allotment | Dec 27, 2022 |
| Initiation of Refunds | Dec 28, 2022 |
| Credit of Shares to Demat | Dec 29, 2022 |
| Listing Date | Dec 30, 2022 |
Elin Electronics IPO Lot Size
The Elin Electronics IPO lot size is 60 shares. A retail-individual investor can apply for up to 13 lots (780 shares or ₹192,660).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,820 |
| Retail (Max) | 13 | 780 | ₹192,660 |
| S-HNI (Min) | 14 | 840 | ₹207,480 |
| B-HNI (Min) | 68 | 4,080 | ₹1,007,760 |
Elin Electronics IPO Promoter Holding
| Pre Issue Share Holding | 53.98% |
| Post Issue Share Holding | 32.93% |
Elin Electronics IPO Prospectus
Company Contact Information
Elin Electronics Limited
143, Cotton Street,
Kolkata – 700 007,
West Bengal, India
Phone: +91 011 43000400
Email: cs@elinindia.com
Website: https://www.elinindia.com/
Elin Electronics IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: elinindia.ipo@kfintech.com
Website: https://karisma.kfintech.com/