Elin Electronics Ltd News Today

Independence Day 2023: Since last years independence day, there have been 38 mainboard IPOs and more than 135 SME IPOs, raising a significant amount of funds. The IPO market in India has experienced a surge, indicating increasing investor confidence in the economy.

Elin Electronics Ltd (Elin) manufactures universal motors, electrical appliances, light-emitting diodes (LEDs), sheet metals, mouldings and other products. It provides electronics manufacturing services (EMS) for major brands of lighting, fans, and small & kitchen appliances in India, and is one of the largest manufacturers of fractional horsepower motors in India.

Elin Electronics Limited has received bids of 52,35,360 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.

Elin Electronics Limited has garnered Rs 142.49 crore from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, December 20, 2022.

Elin Electronics Limited has fixed the price band at ₹234 to ₹247 per Equity Share for its maiden public offer.