by Aaron Vas | Dec 20, 2022 | IPO, Market | 0 comments

Elin Electronics IPO Review: Elin Electronics Limited is coming up with its Initial Public Offering. The IPO will open for subscription on December 20th, 2022, and close on December 22nd, 2022. It is looking to raise Rs. ₹475.00 Crores. In this article, we will look at the Elin Electronics IPO Review 2022 and analyze its strengths and weaknesses. Keep reading to find out! 

Founded in 1969, Elin Electronics Ltd. is a leading electronics manufacturing services provider. The company is India’s largest fractional horsepower motors manufacturer in India. The company also offers end-to-end product solutions and provides its manufacturing services both as an original equipment manufacturer (OEM) and an original design manufacturer (ODM).

It has 3 manufacturing facilities located in Uttar Pradesh(Ghaziabad), Himachal Pradesh (Baddi), and Goa(Verna). In Ghaziabad, the company also has its centralized R&D center. Here they focus on the R&D of all aspects of OEM and ODM models including concept sketching, design refinement, generating optional features, and testing.

Elin Electronics Ltd has a diversified products portfolio which includes:

● Lighting products (LED), fans (ceiling, fresh air, and TWP fans), modular switches, and sockets.

● Small appliances like dry and steam irons, toasters, hand blenders, mixer grinders, hair dryers, and hair straighteners.

● Fractional Motors ( These are used in mixer grinder, hand blender, wet grinder, chimney, air conditioner, heat convector, TPW fans etc.)

If we look at the financials of Elin Electronics Ltd. we find out that their assets have grown from Rs. 397.73 crores in March 2019 to Rs. 532.61 crore in March 2022. Their revenues also follow a similar trend despite suffering a drop in March 2020. Their revenues have grown at a CAGR of 5.7% from Rs. 829.74 crores in March 2019 to Rs. 1,094.67 crores in March 2022. Their profits grew at a CAGR of 6.13% from Rs. 29.07 crores in March 2019 to Rs. 39.15 crore in March 2022. It is also important to note that the company’s borrowing also increased during this period from Rs. 86.64 crores to Rs. 102.33 crores.

(Source: DRHP of the company)

(Source: DRHP of the company)

Following are the competitors of the company in each of its product verticals:

Promoters: Mangi Lall Sethia, Kamal Sethia, Kishore Sethia, Gaurav Sethia, Sanjeev Sethia, Sumit Sethia, Suman Sethia, Vasudha Sethia And Vinay Kumar Sethia

Book Running Lead Manager: Axis Capital Limited, JM Financial Limited

Registrar to the Offer: KFin Technologies Limited

The Objective of the Issue

The net proceeds from this issue will be utilized for the following purposes:

In this article, we looked at the details of Elin Electronics IPO Review 2022. Analysts remain divided on the IPO and its potential gains. This is a good opportunity for investors to look into the company and analyze its strengths and weaknesses. That’s it for this post.

Are you applying for the IPO? Let us know in the comments below.

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