Shares of Elin Electronics made their flat marketplace debut on Friday with the inventory list at ₹244 apiece at the NSE, a reduction of greater than a in step with cent in comparison to its IPO problem rate of ₹247 in step with percentage. On the BSE, Elin Electronics stocks began out buying and selling at ₹243 a piece.
The Initial Public Offer (IPO) of electronics production offerings enterprise Elin Electronics became subscribed 3.09 instances at the remaining day of subscription that became open from Tuesday, December 20 until Thursday, December 22, 2022. The public problem obtained bids for 4,39,67,four hundred stocks towards 1,42,09,386 stocks on provide.
The class intended for Qualified Institutional Buyers (QIBs) became subscribed 4.fifty one instances, non-institutional buyers obtained 3.29 instances subscription and Retail Individual Investors (RIIs) 2.20 instances.
Elin Electronics preliminary percentage sale consisted of a sparkling problem of up to ₹one hundred seventy five crore and a proposal for sale (OFS) of up to ₹three hundred crore, aggregating up to ₹475 crore. The rate variety for the provide became at ₹234-247 a percentage.
The anchor buyers in Elin Electronics had been allotted 57.sixty nine lakh fairness stocks in mixture at ₹247 in step with percentage, at top cease of the rate band in session with ee-e book strolling managers – Axis Capital and JM Financial. It mobilised a complete of ₹142.five crore thru anchor buyers.
15 buyers that invested in the difficulty through anchor ee-e book encompass Aditya Birla Sun Life Trustee, Kotak Mahindra Trustee, SBI Life Insurance, SBI Mutual Fund, PGIM India, Kotak Funds – India Midcap fund and Pinebridge Global Funds.
Elin Electronics, a flagship enterprise of Elin Group, became mounted in 1969. Delhi-primarily based totally Elin is a producer of cease-to-cease product answers for main manufacturers of lighting, fans, and small kitchen appliances, and a main fractional horsepower cars producer withinside the country.
More Stories
Fake news sites outnumber US newspaper sites: Report
This is how US Fed rate cuts will impact Indian economy
Apple is now the most valuable US public company