Elin Electronics
Mainboard₹475 Cr issue
-1.62%
Listing gain over issue price
Issue size
₹475 Cr
1 lot at cut-off
₹14,820
Lot size
60shares
Open
20 Dec 2022
Close
22 Dec 2022
Allotment
27 Dec 2022
Listing
30 Dec 2022
Listing performance
Issue price
₹247
Listed at
₹243
Listing-day close
₹227.80
Latest price
₹69.55
Close on 23 Oct 2026
Listing gain
-1.62%
Return since issue
-71.84%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 20 Dec 2022 – 22 Dec 2022
- Listing date
- 30 Dec 2022
- Face value
- ₹5 per share
- Issue price
- ₹247 per share
- Lot size
- 60 shares
- Total issue size
- ₹475 Cr
- Market cap at offer price
- ₹1,227 Cr
- Promoter holding
- 53.98% → 32.93% pre-issue → post-issue
- ISIN
- INE050401020
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- 143, Cotton Street, West Bengal
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 57,69,223 | — | — |
Application size
Minimum 60 shares per lot, in multiples, at ₹247
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 60 | ₹14,820 |
| Retail (max) | 13 | 780 | ₹1,92,660 |
| S-HNI (min) | 14 | 840 | ₹2,07,480 |
| S-HNI (max) | 67 | 4,020 | ₹9,92,940 |
| B-HNI (min) | 68 | 4,080 | ₹10,07,760 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
57,69,223
Anchor portion
₹143 Cr
at ₹247 per share
Valuation and performance
Valuation at offer price
₹247 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.59 | — |
| P/E (×) | 25.76 | — |
| Market cap | — | ₹1,227 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 12.92%
- ROCE
- 15.82%
- Debt / equity
- 0.32
- PAT margin
- 3.58%
- EBITDA margin
- 7.31%
- NAV per share
- ₹74.21
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Elin Electronics
Elin Electronics Limited was originally incorporated on March 26, 1982 as a private limited company in Kolkata, West Bengal, and was converted to a public company on November 22, 1987. The company is a leading EMS manufacturer of end-to-end product solutions for major brands of lighting, fans, and small/kitchen appliances in India, and is one of the largest fractional horsepower motors manufacturers in India. The company manufactures and assembles a wide array of products including LED lighting, fans and switches; small appliances; fractional horsepower motors; medical diagnostic cartridges; plastic moulded and sheet metal parts and components; and other miscellaneous products. The company operates three manufacturing facilities located at Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa), and as of October 31, 2022, had 4,617 total manpower including 2,935 permanent employees and 1,682 contractual labour.
Company Analysis
from RHPElin Electronics Limited is a leading electronics manufacturing services (EMS) manufacturer providing end-to-end product solutions for lighting, fans, small appliances, and fractional horsepower motors, operating across multiple manufacturing verticals in India.
Elin Electronics Limited was originally incorporated on March 26, 1982 as a private limited company in Kolkata, West Bengal, and was converted to a public company on November 22, 1987. The company is a leading EMS manufacturer of end-to-end product solutions for major brands of lighting, fans, and small/kitchen appliances in India, and is one of the largest fractional horsepower motors manufacturers in India. The company manufactures and assembles a wide array of products including LED lighting, fans and switches; small appliances; fractional horsepower motors; medical diagnostic cartridges; plastic moulded and sheet metal parts and components; and other miscellaneous products. The company operates three manufacturing facilities located at Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa), and as of October 31, 2022, had 4,617 total manpower including 2,935 permanent employees and 1,682 contractual labour.
Electronics Manufacturing Services (EMS)LED LightingSmall AppliancesFansFractional Horsepower MotorsMedical Diagnostic EquipmentSheet Metal ComponentsPlastic Moulding
Objects of the Issue
- Repayment/ prepayment, in full or part, of certain borrowings availed by our Company ₹ 880.00 million p.25
- Funding capital expenditure towards upgrading and expanding our existing facilities at (i) Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa ₹ 375.89 million p.25
- General corporate purposes ₹ 390.24 million p.25
- Capital expenditure for machinery and equipment p.61
- Repayment/prepayment, in full or part, of certain borrowings availed by our Company ₹880.00 million p.104
- Funding capital expenditure towards upgrading and expanding our existing facilities at (i) Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa ₹375.89 million p.106
- General corporate purposes ₹390.24 million p.109
- Fresh Issue for general corporate purposes ₹1,750 million p.358
Issue Structure
- Total Issue
- ₹ 4,750 million
- Fresh Issue
- ₹ 1,750 million (7,085,020 Equity Shares)
- Offer for Sale
- ₹ 3,000 million (12,145,726 Equity Shares)
- Price Band
- ₹ 234 to ₹ 247 per Equity Share (Offer Price: ₹ 247)
- Lot Size
- 60 Equity Shares and in multiples of 60 Equity Shares thereafter
- Face Value
- ₹ 5 per Equity Share
Business Model
Elin Electronics operates as an electronics manufacturing services (EMS) provider, manufacturing products on an outsourced basis for major brands under their own brand names. The company generates revenue through manufacturing and supplying LED lighting products, fans, small appliances, fractional horsepower motors, medical diagnostic cartridges, plastic moulded and sheet metal parts and components. The company typically enters into general purchasing agreements with customers valid for three years, with products manufactured and sold on a purchase order basis. In Fiscals 2020, 2021 and 2022 and for the six-month period ended September 30, 2022, cost of material consumed accounted for 70.50%, 72.44%, 74.58% and 74.66% of revenue from operations respectively.
Business Segments
Manufacturing and supply of LED lighting products and flashlights
Manufacturing and supply of fans and related products
Manufacturing and supply of small and kitchen appliances
Manufacturing of fractional horsepower motors, with company being one of the largest manufacturers in India
Manufacturing of medical diagnostic cartridges
Manufacturing of plastic moulded and sheet metal parts and components, terminal blocks, stainless steel blades, die casting and radio sets
Manufactures LED lighting, fans and switches; small appliances; fractional horsepower motors; and other EMS products
Manufactures LED lighting products, fans, and switches as part of EMS segment
Manufactures small appliances as part of EMS segment
Manufactures fractional horsepower motors under own brand name 'Elin' as part of EMS segment
Manufactures medical diagnostic cartridges
Manufactures moulded and sheet metal parts and components
Manufactures LED fittings, fixtures, solar devices, LED flashlights (torches), fans of all types, and light fittings/switches
Manufactures small kitchen and home appliances including mixer grinders, bar blenders, hair dryers, hair straighteners, irons, and toasters
Manufactures fractional horsepower motors for various applications
Manufactures terminal blocks, stainless steel blades, die casting components, dies/tools/molds, and medical diagnostic cartridges
Manufacturing of LED lighting products including LED fittings, fixtures, flashlights, switches, and ceiling fans, fresh air fans and TPW fans. Key products include baton lights, down lights, flashlights, wall lights, linear lights and modular switches and sockets.
Manufacturing of small and kitchen appliances including dry and steam irons, toasters, hand blenders, mixer grinders, hair dryers and hair straighteners. Products are manufactured for both OEM and ODM customers.
Manufacturing of fractional horsepower motors (FHP motors) with power rating less than one horsepower, including universal motors for high rpm applications and induction motors for lower rpm applications. Used in mixer grinders, hand blenders, fans, air conditioners, and other appliances. Marketed under own brand name 'Elin'.
Manufacturing of medical diagnostic cartridges for use in diagnostic devices. Currently supplies ultrasonic and laser cartridges to Molbio Diagnostics Private Limited. Used for extraction and purification of nucleic acids from clinical specimens and can determine approximately 26 diseases including Tuberculosis and Zika virus.
Manufacturing of plastic injection moulded parts, sheet metal components, dies, tools and moulds, and other spare parts and products. Largely sold to customers in the auto ancillary and consumer durables sectors.
Manufacturing of terminal blocks for air conditioners, stainless steel blades for mixer grinders, die casting components, and miscellaneous products including radio sets, junction boxes and UV-C disinfection system.
Manufactures and sells LED lighting products, ceiling fans, fresh air fans, TPW fans, and modular switches and sockets for major brands including Signify Innovations and Eveready
Manufactures dry and steam irons, toasters, hand blenders, mixer grinders, hair dryer and hair straightener for customers including Philips, Bosch, Faber, Panasonic and Usha
Manufactures and sells fractional horsepower motors used in mixer grinders, hand blenders, wet grinders, chimneys, air conditioners, heat convectors, and TPW fans under own brand 'Elin' and for customers including Havells, Bosch, Faber, Panasonic, Preethi, Groupe SEB and Usha
Manufactures medical diagnostic cartridges for use in diagnostic devices for customers including Molbio Diagnostics Private Limited
Manufactures plastic moulded and sheet metal parts and components for customers in auto ancillary and consumer durables sectors including Denso and IFB
Manufactures LED lighting products, ceiling fans, fresh air fans, TPW fans, and modular switches and sockets
Manufactures dry and steam irons, toasters, hand blenders, mixer grinders, hair dryers and hair straighteners
Manufactures motors used in mixer grinders, hand blenders, wet grinders, chimneys, air conditioners, heat convectors, and TPW fans
Manufactures terminal blocks for air conditioners, stainless steel blades for mixer grinders, die castings, and radio sets
Manufactures medical diagnostic cartridges for use in diagnostic devices
Manufactures plastic moulded and sheet metal parts and components largely for customers in the auto ancillary and consumer durables sectors
SWOT Analysis
Strengths
- • Leading EMS manufacturer with significant market share in India(p.24)
- • Established long-term customer relationships(p.31)
- • Substantial backward integration reducing supplier dependency(p.38)
- • Qualified manufacturing facilities with quality certifications(p.35)
- • Significant customer base with revenue diversification(p.31)
- • Diversified product portfolio across EMS verticals with established customer relationships(p.45)
- • Proprietary technical knowledge and design capabilities in electronics manufacturing(p.48)
- • Established brand presence with registered trademarks in India(p.50)
- • Multiple manufacturing facilities operational across geographies(p.45)
- • No public issue of securities since incorporation, indicating founder control and stability(p.99)
- • Established market position in key verticals including leadership in fractional horsepower motors(p.113)
- • Diversified products resulting in a de-risked business model(p.113)
- • Entrenched relationships with a marquee customer base(p.113)
- • High degree of backward integration resulting in higher efficiencies, enhanced quality of products and customer retention capability(p.113)
- • Consistent and strong track record of financial performance(p.113)
- • Established market leadership in fractional horsepower motors with 12% market share(p.186)
- • Strong backward integration with in-house manufacturing of components, tools, molds, and PCB assembly(p.190)
- • Diversified product portfolio across EMS verticals and geographic markets reducing single-product risk(p.187)
- • Strong, long-term relationships with marquee multinational customers like Philips, Signify, Havells(p.188)
- • State-of-the-art manufacturing facilities with modern machinery and full power backup(p.193)
- • Recognized R&D capabilities with DSIR approval and ODM design expertise(p.202)
- • Solid financial performance with consistent profitability and strong balance sheet(p.190)
- • Top 2 position in LED lighting EMS market with 7.2% market share(p.186)
- • Experienced board with long-standing directors in electronics manufacturing(p.231)
- • Established financial position with net equity of ₹3,201.49 million(p.248)
- • Multiple manufacturing facilities providing geographic diversification(p.272)
- • Market leadership in fractional horsepower motors segment with 12% market share(p.304)
- • Strong position in LED lighting and flashlight EMS with approximately 7% market share(p.304)
- • Significant position in small appliances EMS vertical with 10.7% market share(p.304)
- • Decades of experience and continuous product portfolio expansion since 1973(p.305)
- • Backward integration with in-house manufacturing capabilities(p.305)
- • DSIR-recognized R&D centre since 1992 with 171-member team(p.305)
- • Three strategically located manufacturing facilities with significant machine capacity(p.305)
- • Consistent revenue growth from ₹7,855.84 million (FY2020) to ₹10,937.54 million (FY2022)(p.305)
- • Diversified product portfolio across EMS and adjacent segments(p.321)
- • Revenue growth driven by strong demand in home appliances(p.323)
- • Growth in key product segments including LED lighting, fans, small appliances and fractional horsepower motors(p.323)
- • Profitable operations with positive operating cash flow(p.327)
- • Strong installed capacity and manufacturing facilities across multiple locations(p.329)
Weaknesses
- • High customer concentration dependency(p.30)
- • Low and inconsistent profitability margins(p.22)
- • Heavy reliance on raw materials with minimal control over pricing(p.42)
- • Limited long-term volume purchase commitments from customers(p.34)
- • High attrition rate among permanent employees(p.37)
- • Outstanding litigation and environmental compliance issues(p.39)
- • Significant historical capital expenditure with uncertain returns(p.33)
- • High concentration of trade receivables with extended credit terms to major customers(p.48)
- • Restrictive covenants in financing arrangements limiting operational and financial flexibility(p.46)
- • History of negative cash flows affecting growth capacity(p.48)
- • Pending litigation and contingent liabilities creating operational uncertainty(p.50)
- • Unregistered leasehold land allotments creating tenure uncertainty(p.45)
- • Promoter personal guarantees on loan facilities creating contingent liability(p.47)
- • Heavy debt load requiring substantial repayment from IPO proceeds(p.104)
- • Not entered into definitive arrangements for equipment procurement, subject to vendor and cost changes(p.109)
- • Capitalization requires management discretion on fund deployment with potential for variance from planned allocation(p.104)
- • Dependence on a limited set of major customers in EMS business(p.113)
- • Heavy dependence on top 5 customers representing 65.43% of revenue(p.188)
- • Concentration in a few key product verticals with LED, fans, small appliances and motors dominating(p.184)
- • Limited presence and capacity in emerging segments like medical diagnostics cartridges(p.192)
- • Declining medical diagnostics cartridges capacity utilization at 25.9% suggesting excess capacity(p.194)
- • Promoter family holding majority stake with personal guarantees creating concentration risk(p.214)
- • Dependence on promoters for business control(p.233)
- • Significant debt levels with current borrowings of ₹525.99 million(p.248)
- • Very low cash reserves at ₹3.47 million as of Sept 30, 2022(p.248)
- • High concentration of trade receivables in single customer base(p.276)
- • Heavy dependence on top five customers accounting for 62.93%-69.03% of revenues(p.306)
- • Largest customer concentration risk at 26.87%-33.10% of total revenue(p.306)
- • Absence of binding purchase commitments from key customers(p.306)
- • Lag in cost pass-through to customers of one to three months(p.306)
- • High cost of goods sold and other expenses consuming 95.44% of income(p.306)
- • Disputed statutory liabilities including provident fund and VAT totaling ₹4.24 million(p.298)
- • High dependence on few key customers for substantial portion of revenues(p.332)
- • Significant increase in cost of material consumed as percentage of revenue(p.322)
- • Working capital management challenges with significant increase in trade receivables(p.327)
- • Contingent liabilities and disputed claims against the company(p.329)
- • Outstanding litigation including water pollution compliance issues(p.336)
Opportunities
- • Rapid growth of Indian EMS industry with significant CAGR(p.24)
- • Strong outsourcing trend by global OEMs to India(p.24)
- • Expansion into medical diagnostics and new product verticals(p.31)
- • Capacity expansion at existing facilities(p.25)
- • Rising labour costs in competing countries driving outsourcing to India(p.24)
- • Capacity expansion plans to meet growing customer demand for fractional horsepower motors(p.45)
- • Growing EMS industry demand driven by technological advancement and product innovation(p.45)
- • Collaboration with customers on technology roadmaps and future solutions(p.45)
- • Expansion of manufacturing facilities at Ghaziabad and Verna to upgrade capacity(p.106)
- • Growing Indian EMS market expected to expand at 41.1% CAGR from FY21 to FY26(p.123)
- • Government PLI incentives and EMC schemes supporting electronics manufacturing investment(p.139)
- • Rising consumer appliances and lighting segments with strong growth drivers(p.140)
- • Geopolitical shift enabling India to capture manufacturing from China due to US-China tensions and rising Chinese labor costs(p.141)
- • Domestic electronics manufacturing projected to grow at 32.3% CAGR from FY21 to FY26(p.148)
- • Rapidly growing EMS market in India with OEM contribution expected to grow at 40.5% CAGR through FY26(p.185)
- • Surge in LED lighting demand projected to grow at 45.8% CAGR with EMS market reaching ₹ 229 billion by FY26(p.170)
- • Small appliances EMS market expected to grow 19.2% CAGR with emerging product categories underrepresented(p.166)
- • Emerging medical diagnostics cartridges market growing at 18.5% CAGR with underexploited growth(p.192)
- • Government PLI scheme incentivizing manufacturing with company already approved for LED components(p.187)
- • China+1 strategy creating shift of manufacturing away from China to India as alternative(p.159)
- • Cross-selling to existing marquee customers in new product verticals and adjacent categories(p.191)
- • Automotive sheet metal and plastic moulding segments with high CAGR of 31.2% and 28.4% respectively(p.177)
- • Government support through capital subsidies and PLI schemes(p.272)
- • Expansion of manufacturing capacity under MSIPS and Himachal Pradesh schemes(p.272)
- • Growth in revenue from ₹7,855.84 million in FY2020 to ₹10,937.54 million in FY2022(p.249)
- • Planned IPO to raise capital for business expansion(p.244)
- • Expansion of ODM capabilities in lighting products and small appliances segments(p.305)
- • Growth in medical diagnostic cartridges market segment started in 2019(p.305)
- • End-to-end product solutions positioning across multiple verticals(p.304)
- • Potential for margin optimization through product mix management(p.307)
- • Expansion of small appliances and fractional horsepower motors segments driven by market demand(p.305)
- • Capacity expansion and capital investment for growth(p.329)
- • Growing consumer demand for home and personal appliances(p.323)
- • Expansion of small appliances and fractional horsepower motors segments(p.324)
- • Medical diagnostic cartridges business expansion(p.321)
Threats
- • Customer risk of in-sourcing or diversifying to multiple suppliers(p.31)
- • Intense competition from organized and unorganized sector(p.43)
- • Volatile raw material and component pricing(p.42)
- • Foreign exchange fluctuation exposure on imported materials(p.42)
- • COVID-19 pandemic impact on operations and financial performance(p.22)
- • Increasing environmental and labour law compliance requirements(p.40)
- • Power supply disruption risk affecting manufacturing(p.37)
- • Risk of equipment breakdown and facility disruptions(p.37)
- • Rapid technological changes and obsolescence risk for EMS products(p.45)
- • Price pressures from competitive market and customer imports(p.45)
- • Customer concentration risk with dependence on EMS vertical(p.45)
- • Risk of customers relocating manufacturing out of India(p.45)
- • Regulatory and licensing approval risks affecting operations(p.48)
- • Manufacturing facility hazards including accidents and force majeure events(p.49)
- • Macroeconomic risks including inflation, interest rates, and Indian economic slowdown(p.56)
- • Foreign exchange volatility affecting dividend repatriation and shareholder returns(p.57)
- • Significant reliance on Chinese imports for raw materials and components amid supply chain vulnerabilities(p.141)
- • Global supply chain disruptions affecting manufacturing and logistics(p.138)
- • Intense competition from global and Indian EMS players in fragmented market(p.154)
- • Volatility in raw material costs and commodity price fluctuations(p.104)
- • Cyclicality and external shocks affecting consumer electronics and appliances demand(p.132)
- • Russia-Ukraine war creating ongoing economic uncertainty and disruptions(p.133)
- • Highly competitive EMS market with fragmented unorganized sector and low barriers to entry(p.205)
- • Intense price competition and pricing pressure from competitors and customer consolidation(p.160)
- • Dependence on imported components with limited local availability creating supply chain vulnerability(p.160)
- • High exposure to raw material price volatility with pass-through on monthly/quarterly basis(p.204)
- • Dependence on customer-assigned suppliers and limited control over quality and costs(p.204)
- • Capacity utilization fluctuations indicating demand sensitivity(p.194)
- • Regulatory compliance burden including BIS certification requirements for imports(p.159)
- • Cyclical demand in consumer durables sensitive to economic downturns and discretionary spending(p.166)
- • Fluctuation in material costs and supply chain disruptions(p.249)
- • Intense competition in electronics manufacturing sector(p.268)
- • Dependence on economic conditions affecting large corporate customers(p.276)
- • High operating leverage with significant fixed costs in manufacturing(p.272)
- • Highly competitive and fragmented EMS industry with Chinese imports competition(p.307)
- • Seasonality in small appliances and lighting segments affecting revenue stability(p.306)
- • Global economic factors and consumer discretionary spending sensitivity(p.307)
- • Raw material price volatility and supply chain risks(p.306)
- • Dependence on customer product success and technology obsolescence risk(p.307)
- • Uncertainty around COVID-19 impact on sustained demand and operations(p.307)
- • Risk of losing existing key customers with no guaranteed continuity(p.306)
- • Decline in medical diagnostic cartridges segment(p.323)
- • Increasing cost of raw materials and input prices(p.324)
- • Rising freight and carriage costs(p.324)
- • Regulatory compliance and environmental pollution control risks(p.340)
- • Competitive pressures in the manufacturing and EMS sectors(p.332)
- • Industry cyclicality and economic downturns affecting consumer durables(p.331)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mangi Lall Sethia | Promoter | 2.15% | — |
| Kamal Sethia | Promoter/Promoter Selling Shareholder | 5.24% | — |
| Kishore Sethia | Promoter/Promoter Selling Shareholder | 8.56% | — |
| Gaurav Sethia | Promoter/Promoter Selling Shareholder | 7.38% | — |
| Sanjeev Sethia | Promoter | 2.15% | — |
| Sumit Sethia | Promoter/Promoter Selling Shareholder | 2.03% | — |
| Suman Sethia | Promoter/Promoter Selling Shareholder | 9.30% | — |
| Vasudha Sethia | Promoter/Promoter Selling Shareholder | 2.54% | — |
| Vinay Kumar Sethia | Promoter/Promoter Selling Shareholder | 1.49% | — |
| Mangi Lall Sethia | Promoter | 0.00% | — |
| Kamal Sethia | Promoter | 5.23% | 4.49% |
| Kishore Sethia | Promoter | 8.56% | 7.34% |
| Gaurav Sethia | Promoter | 7.38% | 6.33% |
| Sanjeev Sethia | Promoter | 2.15% | 1.84% |
| Suman Sethia | Promoter | 9.30% | 7.97% |
| Sumit Sethia | Promoter | 2.03% | 1.74% |
| Vasudha Sethia | Promoter | 2.54% | 2.18% |
| Vinay Kumar Sethia | Promoter | 1.49% | 1.28% |
| Suman Sethia | Promoter/Promoter Group | — | — |
| Premlata Sethia | Promoter/Promoter Group | — | — |
| Gaurav Sethia | Promoter/Promoter Group | — | — |
| Kishor Sethia | Promoter/Promoter Group | — | — |
| Kamal Sethia | Promoter/Promoter Group | — | — |
| Mangi Lall Sethia | Promoter/Chairman and Wholetime Director | — | — |
| Kamal Sethia | Promoter/Managing Director | — | — |
| Sanjeev Sethia | Promoter/Wholetime Director | — | — |
| Sumit Sethia | Promoter/Wholetime Director | — | — |
| Mangi Lall Sethia | Promoter | — | — |
| Kamal Sethia | Promoter | — | — |
| Kishore Sethia | Promoter | — | — |
| Gaurav Sethia | Promoter | — | — |
| Sanjeev Sethia | Promoter | — | — |
| Sumit Sethia | Promoter | — | — |
| Suman Sethia | Promoter | — | — |
| Vinay Kumar Sethia | Promoter | — | — |
| Vasudha Sethia | Promoter | — | — |
| Suman Sethia | Promoter | 9.30% | — |
| Prem Lata Sethia | Promoter | 6.58% | — |
| Kishor Sethia | Promoter | 8.56% | — |
| Kamal Sethia | Promoter | 5.24% | — |
| Gaurav Sethia | Promoter | 7.38% | — |
| Vasudha Sethia | Promoter | 2.54% | — |
| Vinay Kumar Sethia | Promoter | 1.49% | — |
| Sanjeev Sethia | Promoter | 2.15% | — |
| Sumit Sethia | Promoter | 2.03% | — |
| Kishore Sethia | Promoter | — | — |
| Suman Sethia | Promoter | — | — |
| Kamal Sethia | Promoter | — | — |
| Kamal Sethia | Promoter Selling Shareholder | — | — |
| Kishore Sethia | Promoter Selling Shareholder | — | — |
| Gaurav Sethia | Promoter Selling Shareholder | — | — |
| Sumit Sethia | Promoter Selling Shareholder | — | — |
| Suman Sethia | Promoter Selling Shareholder | — | — |
| Vasudha Sethia | Promoter Selling Shareholder | — | — |
| Vinay Kumar Sethia | Promoter Selling Shareholder | — | — |
Leadership
Kamal Sethia · Managing Director
Mangi Lall Sethia · Whole-time Director
Sanjeev Sethia · Whole-time Director
Sumit Sethia · Whole-time Director
Raj Karan Chhajer · Chief Financial Officer
Lata Rani Pawa · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Elin Electronics IPO FAQs
What is the lot size of Elin Electronics IPO?
The minimum lot size of Elin Electronics IPO is 60 shares. One lot costs ₹14,820 at the cut-off price.
When does Elin Electronics IPO open and close?
Elin Electronics IPO opened for subscription on 20 Dec 2022 and closed on 22 Dec 2022.
What is the listing date of Elin Electronics IPO?
Elin Electronics IPO listed on 30 Dec 2022.