Public release subscribed 3 times on the last day

Elin Electronics IPO: Public offering 3x subscribed on last day

The price range for the offer is Rs 234-247 per share. (representative)

New Delhi:

The initial public offering (IPO) of electronics manufacturing services company Elin Electronics was 3.09 times subscribed on the last day of Thursday.

According to data provided by the NSE, the initial share sale received bids for 4,3967,400 shares, while 1,4209,386 shares were offered.

Qualified institutional buyers (QIBs) subscribed 4.51 times, non-institutional investors subscribed 3.29 times and retail individual investors (RII) subscribed 2.20 times.

The IPO saw a fresh issue of up to Rs 1.75 crore new shares and an offering offer of up to Rs 300 crore, for a total of up to Rs 4.75 crore.

The price range for the offer is Rs 234-247 per share.

Elin Electronics’ IPO was 95% subscribed the day after it was subscribed on Wednesday.

Delhi-based Elin is a manufacturer of end-to-end product solutions for major brands of lighting, fans and small kitchen appliances and is the country’s leading manufacturer of fractional horsepower motors.

Axis Capital and JM Financial are the administrators of the offer.

(Aside from the title, this story is unedited by NDTV staff and published via a syndicated feed.)

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