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Earning opportunity for investors, IPO price band fixed for this electronics company

Elin Electronics IPO To Open Price Band: If you invest in the IPO market, or are going to invest, then next week an atmosphere of tremendous earnings is expected in the IPO market. In this, investors are going to get a good chance to earn money. The IPO of Elin Electronics company, an electronics manufacturing services provider in the country, is going to open for subscription next week (on December 20, 2022). In this, investors can invest money after two days i.e. till 22 December. It will open for the same anchor investors on 19 December.

475 crore issue size

The issue size of the IPO of this company has been kept at Rs 475 crore. At the same time, the company has fixed a price band of Rs 234-247 per share for this. 60 shares are included in one lot size.

In the IPO of Elin Electronics, the share has been reserved in 3 parts. In this, 50 per cent shares have been reserved for Qualified Institutional Buyers (QIBs) and 15 per cent for Non-Institutional Investors (NIIs) and 35 per cent for retail investors. The company will use the funds received from the IPO to pay off its debt and for capital expenditure.

IPO size reduced

Allin Electronics has reduced the size of its IPO to Rs 475 crore. Under the IPO, the company will issue new shares worth Rs 175 crore. Existing promoters and shareholders will sell shares worth Rs 300 crore through Offer for Sale (OFS). Earlier, the company was about to bring an IPO of 760 crores. But those who sold stake include existing promoters Vasudha Sethia, Kamal Sethia, Suman Sethia, Vijay Singh Sethia, Kamal Sethia & Sons HUF and others.

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this much will be the investment

The price band for the IPO of Elin Electronics has been kept at Rs 234-247 per share. The company has fixed the lot size of 60 shares for this IPO. At least Rs 14,820 is necessary to subscribe to this IPO from the upper price band. Also, you can invest Rs 207,480 in it for a maximum of 14 lots.

what does the company do

Elin Electronics Company manufactures lights, fans and kitchen accessories for many major brands in the country. Axis Capital and JM Financial Services are the book running lead managers to the IPO. While KFin Technologies has been appointed as the registrar to the issue.

read this also- Tax Benefits: Great tips for those who pay a large part of their salary in tax, can do this work, will get benefit

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