Elin Electronics partners with leading consumer electronics and appliances brands for a range pf products frpom LED lighting to medical diagnostic cartridges
MUMBAI, Dec 22 (The CONNECT) - Elin Electronics Limited has received bids of 4,39,62,960 shares against the offered 1,42,09,386 equity shares, at a price band of ₹234-247, according to the data available on the stock exchanges. Overall, the issue was subscribed 3.09 times on the final day of bidding led by QIB and NII portion.
Retail Portion was subscribed 2.2 times followed by Non-Institutional segment that saw a response of 3.29 times. The reserved portion for qualified institutional buyer portion saw a subscription of 4.51 times.
Axis Capital Limited, and JM Financial Limited are the book running lead manager to the issue and KFin Technologies Private Limited is the registrar to the offer. The equity shares are proposed to be listed on the Main Board of BSE and NSE.
Elin Electronics is a key players in LED lighting and flashlight with EMS market share of approximately 7% in Fiscal 2021, and are also one of the key players in small appliances vertical with EMS market share of 10.7% in Fiscal 2021. (Source: F&S Report)
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 such as Molbio Diagnostics Private Limited and for moulded and sheet metal parts and components such as Denso and IFB.