Topic IPO | Federation of Industry and Industry
Press Trust of India | New Delhi last updated on November 18, 2021 20:40 IST
https://mybs.in/2Zj2l38
Elin Electronics Limited, a leading electronics manufacturing services company, has submitted preliminary documents to Sebi, the capital market regulator, to raise 7.6 billion rupees through the first share sale.
According to the Red Herring Draft Prospectus (DRHP), the initial public offering (IPO) includes newly issued shares with a total value of up to 1.75 billion rupees, and a sale offer of up to 5.85 billion rupees by promoters and other selling shareholders.
As part of OFS, existing shareholders will sell shares worth Rs 34.56 crore, and the promoters will divest shares worth Rs 23.94 crore.
The newly issued proceeds will be used to repay/advance debts, of which Rs 489.7 crore will be used to fund capital expenditures for upgrading and expanding existing factories in Ghaziabad, Uttar Pradesh, Werna, and Goa, except for general corporate purposes outside.
Elin, based in Delhi, is a leading electronic manufacturing services (EMS) manufacturer, providing end-to-end product solutions for major brands of lighting, fans and small/kitchen appliances in India, as well as a leading manufacturer of low-power motors in India.
The company manufactures and assembles various products and provides end-to-end product solutions.
Its product portfolio includes LED lighting, fans and switches; small appliances; fractional horsepower motors; medical diagnostic boxes; plastic molding and sheet metal parts and components; and other miscellaneous products such as terminal blocks, stainless steel blades, die-casting parts and radios.
Its operating income increased by 9.78% from Rs 785.58 crore in FY 2020 to Rs 862.38 crore in FY 2021, and its net profit for FY 2021 increased by 26.81% from Rs 274.9 crore in FY 2720.20 to 34.86 million. rupee.
Axis Capital and JM Financial are the lead managers of IPO book management.
(Only the title and image of this report may have been redesigned by the business standards staff; the rest of the content is automatically generated from the joint feed.)
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