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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of borrowings
Funds were used to repay or prepay certain outstanding borrowings of the company.
Capacity expansion at Ghaziabad and Verna facilities
Funds were used to upgrade and expand manufacturing capacity at the company's Ghaziabad and Verna facilities.
General corporate purposes
Remaining proceeds were used for general corporate purposes.
(₹ in Crore)
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Elin Electronics Limited, incorporated in 1969 and part of the Sethia family promoted Elin Group, is an electronics manufacturing services (EMS) company. It designs and manufactures end to end product solutions on an OEM and ODM basis for established brands across lighting, fans, switches, and small and kitchen appliance categories. The company operates manufacturing facilities in Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa). It has built a leading position in fractional horsepower motors in India, alongside meaningful shares of the domestic LED lighting and small appliances markets as of fiscal 2021. Elin Electronics raised capital through a combination of a fresh issue and an offer for sale. The fresh issue proceeds were directed toward repaying existing borrowings, funding capacity expansion at its Ghaziabad and Verna facilities, and general corporate purposes. The company's shares listed on the NSE and BSE in December 2022.
The company raised approximately Rs 142 crore from anchor investors on 19 December 2022, allotting shares at the IPO price cap of Rs 247 each to 15 anchor investors ahead of the public issue opening.
Source: RHP • Analysis provided for informational purposes
Last Updated: 18 July 2026, 11:03 PM
Long established EMS manufacturer
Operating since 1969, the company has decades of manufacturing experience and holds a leading position in fractional horsepower motors in India.
Diversified product base
The company serves multiple appliance categories, including lighting, fans, switches, small kitchen appliances and motors, reducing dependence on any single product line.
Reduced promoter shareholding post issue
The offer for sale component of the issue lowered promoter ownership after listing, a dilution flagged as a point of caution in market commentary.
Elin Electronics Limited
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