Elin Electronics announces launch of initial public offering
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Elin Electronics Ltd. has announced public offering of 19230769 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 242.00 per share. The gross proceeds of the issue are expected to be Rs 47,500.00 lakhs. The company's initial public offer (IPO) will open on 20 December 2022 and is expected to close on 22 December 2022, subject to customary closing conditions. The price band of the issue has been fixed at Rs 234.00-247.00 per share. The IPO includes a fresh Issue of 19230769 Equity Shares of the Company at an price of Rs 247.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 60 shares with bids in multiples of 60. Elin Electronics Ltd. anticipates using the proceeds of the issue for . Axis Capital Ltd.,JM Financial Ltd. as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
