Shares of Elin Electronics were trading at Rs 236.70 in early trade on the BSE, a 4.17% discount to the issue price of Rs 247.
The scrip was listed at Rs 243, at a discount of 1.65% compared to the issue price.
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The stock’s highest point is 244.75 points, and the lowest point is 235.25 points. On the BSE, the company’s shares traded over 193,000 shares.
The IPO of the company was subscribed 3.09 times. On 20 December 2022, the issue was opened for bidding, and it closed on 22 December 2022 and the price band was fixed at Rs 234-247 per share. The new IPO issue consisted of up to Rs 175 crore and an offer for sale (OFS) of up to Rs 300 crore by all existing shareholders.
The company manufactures electronic services that offer end-to-end product solutions for lighting, small kitchen appliances, fans and fractional horsepower motors manufacturers in India. It also sells fractional horsepower motors under its own brand name, Elin.
On a consolidated basis, the net profit of Rs 20.67 crore and net sales of Rs 604.46 crore in Q2FY23.
