Elin Electronics IPO
Elin Electronics Limited (ELIN) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 December 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.5% (likely range -15% to +4%), day's high +6.6%, chance of a gain 33%. Actual: -1.2% at the open, -0.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 40,59,824 | 1,83,03,120 | 4.51x | |
| NII (HNI) total | 30,44,869 | 1,00,22,100 | 3.29x | |
| Big NII (above ₹10 lakh) | 20,29,912 | 60,73,800 | 2.99x | |
| Small NII (₹2-10 lakh) | 10,14,957 | 39,48,300 | 3.89x | |
| Retail | 71,04,693 | 1,56,42,660 | 2.20x | |
| Total | 1,42,09,386 | 4,39,67,880 | 3.09x |
Bids on NSE and BSE together, as published by NSE, as of 22 Dec 2022, 07:00 PM. Shares offered exclude the anchor portion. 29% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Elin Electronics's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Craftsman AutomationMar 2021 | 5.21x | 2.84x | 3.43x | 3.81x | ₹824 Cr | -8.8% | 0.0% |
| eMudhraMay 2022 | 4.05x | 1.28x | 2.61x | 2.72x | ₹411 Cr | +5.5% | +9.0% |
| Sula VineyardsDec 2022 | 4.13x | 1.51x | 1.65x | 2.33x | ₹960 Cr | +1.1% | +1.8% |
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| S.P. ApparelsAug 2016 | 2.21x | 5.10x | 1.90x | 2.66x | ₹254 Cr | +2.6% | +7.7% |
| Keystone RealtorsNov 2022 | 3.84x | 3.03x | 0.53x | 2.01x | ₹668 Cr | +2.6% | +5.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| JM Financial | 109 | +22.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Elin Electronics IPO price band and lot size? ₹234–247 per share, with a lot of 60 shares, so the smallest retail bid is ₹14,820.
How many times has it been subscribed? 3.09x overall: QIB 4.51x, NII 3.29x, retail 2.20x.
How did it list? It opened at ₹244, -1.2% against the issue price of ₹247, and closed its first day -7.8%.
