Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Elin Electronics gets SEBI's nod for Rs 760 crore IPO

Posted On: 2022-03-01 13:06:01 (Time Zone: IST)


Elin Electronics Limited (EEL), a leading electronics manufacturing services company, has received capital markets regulator SEBI's go ahead to raise Rs 760 crore through an initial public offering.

The Delhi-based company's IPO comprises equity shares of face value of Rs 5 each comprising a fresh issue aggregating up to Rs 175 crore, and an offer for sale of up to Rs 585 crore.

Elin Electronics, which had filed preliminary IPO papers with SEBI in November 2021, obtained its observation letter on February 28, 2022, an update with Sebi showed on Monday.

As a part of the Offer for Sale, existing shareholders will sell shares to the tune of Rs 345.60 crore and promoters will sell shares worth Rs 239.4 crore.

Proceeds from the fresh issue will be used to the extent of Rs 80 crore to repay/prepay debt, Rs 48.97 crore for funding capital expenditure for upgrading and expansion of existing plants in Ghaziabad, Uttar Pradesh and Verna, Goa besides general corporate purposes.

Led by Kamal Sethia, Managing Director & Promoter along with Raj Karan Chhajer, its CEO, Elin offers Electronic Manufacturing Services (EMS), Universal Motors and Induction Motors, Design & Manufacturing of Tools/Moulds/Dies, Domestic Kitchen Appliances, Personal Care Products, Lighting Products & Automotive Components, resulting in a de risked business model.

The company stands different from the traditional EMS companies given its backward integrated product and solutions suite. Its focus is on component fabrication, sourcing and system assembly. Its key products in its EMS business vertical include LED lighting, fans and switches; small appliances; fractional horsepower and other EMS products.

EEL caters to both original equipment manufacturer ("OEM") and original design manufacturer ("ODM") business models and as per the F&S report stated in its DRHP, is one of the key players for LED lighting & Flashlights and Small Appliances with a market share of approximately 7% and 10.7% in FY21, respectively. The company partners with leading consumer electronics and appliances brands for LED lighting, fans and switches such as Signify Innovations and Eveready; for Small appliances such as Philips, Bosch, Faber, Panasonic and Usha; for fractional horsepower motors such as Havells, Bosch, Faber, Panasonic, Preethi (owned by Philips), Groupe SEB (Maharaja brand) and Usha; as well as for Medical diagnostic cartridges and for Moulded and sheet metal parts and components makers.

For FY21, it's revenues from operations stood at Rs 862.38 crore as against Rs 785.58 crore in the preceding fiscal. Its net profit stood at Rs 34.86 crore for the said period as compared to Rs 27.49 crore in the previous financial year.

Axis Capital Limited, and JM Financial Limited are the book running lead managers to the issue.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

USFDA issues Form 483 for Glenmark Pharmaceuticals Ltd's Aurangabad facility

Concord Enviro System files DRHP to raise funds via IPO

Innova Captab files DRHP with SEBI to raise funds via IPO

Allied Blenders and Distillers files DRHP for Rs 2000 crore IPO

Noida-based India Exposition Mart gets Sebi nod for IPO

Artefact Projects Limited bags projects assignments with Fees of Rs. 30.72 crores

Delta Corp subsidiary Deltatech Gaming files its DRHP for Rs. 550 crore IPO

ASM Technologies Ltd recommends final dividend of Rs. 2.50

PayMate India files DRHP for IPO to raise Rs 1500 crore

Balaji Speciality Chemicals Ltd to raise funds through IPO

QIBs lead the way on final day for Aether Industries, Overall Issue subscribed 6.26 times

Shilpa Pharma Lifesciences Ltd to file for IPO

Aether Industries Ltd's IPO to open on May 24, 2022, sets price band at ?610 to ?642 per Equity Share

Strong retail demand for eMudhra IPO on Day 1

Ethos IPO fully subscribed on last day of bidding

eMudhra Ltd raises Rs 123.83 crore from anchor investors

Ethos IPO: Retail Book crosses halfway mark on Day 1, Subscribed 27% Overall

Ethos Limited IPO opens for subscription

eMudhra Limited's IPO to open on May 20, 2022, sets price band at ?243 to ?256 per Equity Share

Ethos Ltd raises Rs 141.69 crore from 9 anchor investors

Logistics Services Provider Pristine Logistics & Infraprojects files DRHP for IPO

Paradeep Phosphates Ltd IPO to open for subscription on May 17, 2022

LIC IPO - Day 5 - Overall Issue Subscribed 1.79 times; Policy holders' portion booked 5.04 times

LIC IPO - Day 4 - NII Segment fully subscribed, Overall Issue Subscribed 1.66 times

Venus Pipes & Tubes' IPO to open on May 11, sets price band at ? 310 to ? 326 per Equity Share

LIC IPO - Day 3 - Overall Issue Subscribed 1.38 times

Sanathan Textiles, Syrma SGS Technology, Aether Industries, 3 others get Sebi nod for IPO

LIC IPO to open on May 4, sets price band at ? 902 to ? 949 per Equity Share

Sah Polymers files DRHP with SEBI to raise funds via IPO

Kaynes Technology files DRHP with SEBI, to raise funds through IPO

Prasol Chemicals Limited files for Rs 800 crore IPO

Hariom Pipe Industries' IPO subscribed 7.93 times on Final Day, Retail portion booked 12.15 times

Hariom Pipe Industries' IPO subscribed 3.44 times on Day 4

Venus Pipes and Tubes Limited gets SEBI nod for IPO

Agro Chemical Co, Dharmaj Crop Guard gets SEBI nod for Rs 300 crore IPO

Hariom Pipe Industries' IPO subscribed 1.88 times on Day 3, Retail portion booked 4.66 times

Hariom Pipe Industries' IPO subscribed 1.48 times on Day 2, Retail portion booked 3.55 times

Hariom Pipe Industries' IPO subscribed 67% on Day 1, Retail portion fully subscribed

Hariom Pipe Industries Limited's IPO to open on March 30, 2022

Retail Jeweller Joyalukkas India files DRHP with SEBI to raise Rs 2,300 Crs via IPO

Nasdaq-listed Yatra Online Inc's Indian Subsidiary files DRHP for its IPO

Veranda Learning Solutions Limited IPO to open on March 29, 2022

Krishna Defence and Allied Industries Limited to launch Rs 11.89 crore SME IPO

Maini Precision Products Limited gets SEBI nod for Rs 900 crs IPO

Cool Caps Industries Limited IPO receives subscription of 7.5 times

Life Insurance Corporation of India and eMudhra gets Sebi nod for IPO

EbixCash files DRHP for IPO with SEBI, to raise Rs 6,000 crore

Hexagon Nutrition gets Sebi nod for Rs. 600 crore IPO

India Exposition Mart files DRHP for Rs 600 crore IPO

Suraj Estate Developers files for an IPO, to raise Rs 500 Crs


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020