Elin Electronics IPO is all set to debut in the Indian stock exchange on 20th December 2022 with an issue size of Rs 475 crores, the company 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.
Elin Electronics IPO Details
| Elin Electronics IPO Dates | 20 – 22 December 2022 |
| Elin Electronics IPO Price | INR 234 – 247 per share |
| Fresh issue | INR 175 crore |
| Offer For Sale | INR 300 crore |
| Total IPO size | INR 475 crore |
| Documents | DRHP,RHP |
| Minimum bid (lot size) | 60 shares (INR 14,820) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Elin Electronics IPO Tentative Dates
| 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 Industry Overview
Over the past 60 years, the electronics industry has experienced phenomenal growth. Emerging and numerous disruptive technologies generate global demand for the electronics industry. Electronics components, electronics design, electronics products, and manufacturing services are all included in the total electronics market. Despite historically being a market with robust growth, it shrank by 3.4% in 2020, primarily due to a fall in private spending brought on by the COVID-19 epidemic.
In 2020, the global electronics market was estimated to be worth USD 2,288 billion. The industry is anticipated to develop at a CAGR of 5.2% to reach USD 2,955 billion by 2025, according to Frost & Sullivan report. A few important variables contributing to this expansion include rising disposable income, improved acceptance of audio and video broadcasting, increased internet penetration, youth preference for next-generation technology, the emergence of e-commerce, etc.
Elin Electronics IPO Company Overview
Elin Electronics Limited, a well-known supplier of electronics manufacturing services (or “EMS”), was founded in 1969. The business is one of the biggest producers of fractional horsepower motors in India and provides end-to-end product solutions for well-known brands of lighting, fans, and small/kitchen appliances. Elin Electronics Limited manufactures, assembles, and offers end-to-end product solutions for a broad range of products. The business operates using the original design manufacturer (ODM) and original equipment manufacturer (OEM) models.
The company’s wide range of EMS products include I modular switches and sockets, (ii) small appliances like dry and steam irons, toasters, hand blenders, mixer grinders, hair dryers, and hair straighteners, (iii) fractional horsepower motors used in mixer grinders, hand blenders, wet grinders, chimneys, air conditioners, heat convectors, and TPW fans, and (iv) LED lighting, fans, and switches including lighting products The business has three strategically placed manufacturing plants, one each in Verna, Himachal Pradesh’s Baddi, and Uttar Pradesh’s Ghaziabad (Goa).
Elin Electronics IPO Objectives
The funds from the proceed will be used to fulfil the following objectives:
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 Financials
| FY 2019 | FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 828.55 | 785.58 | 862.38 | 1,093.75 | 604.46 |
| Expenses | 791.79 | 751.27 | 817.41 | 1,041.79 | 577.16 |
| Net income | 29.07 | 27.49 | 34.86 | 39.15 | 20.67 |
| Margin (%) | 3.51 | 3.50 | 4.04 | 3.73 | 3.42 |
Elin Electronics IPO Strengths
- One of the biggest producers of motors with a fractional horsepower, having a 12% market share in FY21
- One of the major flashlight and LED lighting companies, with an EMS market share of roughly 7% in FY21.
- One of the major participants in the EMS industry, with a share of 10.7% in FY21, for the small appliance sector.
Elin Electronics IPO Weaknesses
- Concentration in revenue. In FY22, the company’s top five clients generated almost 63% of its revenue.
- The profitability ratios have historically been poor. In FY22, the PAT margin and ROCE were 3.5% and 7.3%, respectively.
- spent a lot of money on capital projects in the past and will keep spending a lot of money on them in the future.
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 Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: elinindia.ipo@kfintech.com
Website: www.kfintech.com
Elin Electronics IPO Lead Manager(s)
- Axis Capital Limited (Past IPO Performance)
- JM Financial Limited (Past IPO Performance)
