Elin electronics public offering will open its Rs 475 crore public issue for subscription on December 20 i.e. Tuesday. The public issue comprises a fresh issuance of shares worth Rs 175 crore and an offer for the sale(OFS) of Rs 300 crore by promoters. The offers’ price band is Rs. 234-247 per share and closes on December 22.
Elin Electronics Ltd. electronics manufacturing services provider secured Rs 142.5 crore via anchor book ahead of its public offering on December 19. The company in an exchange filing to BSE said it has finalized the allocation of 57.69 lakh shares to anchor investors at Rs 247 per equity share, the upper end of the price band i.e. (Rs 234-247 per share).
15 investors in total invested in Elin Electronics via the anchor book including SBI Mutual Fund, Kotak Mahindra Trustee, SBI Life Insurance, Aditya Birla Sun Life Trustee, etc. “Out of the total allocation to 15 anchor investors, 40.48 lakh shares were allocated to the 4 domestic mutual funds through a total of 11 schemes,” Elin Electronics said in its filing to BSE.
Elin electronic’s public offering will open its Rs 475 crore public issue for subscription on December 20 i.e. Tuesday. The public issue comprises a fresh issuance of shares worth Rs 175 crore and an offer for the sale(OFS) of Rs 300 crore by promoters. The offers’ price band is Rs. 234-247 per share and closes on December 22.
The funds secured by the public issue will be utilized for repaying the company’s debts, and expansion of existing facilities at sites like Ghaziabad (Uttar Pradesh) and Verna (Goa).
Read More- Landmark Cars IPO opens for public subscription on Tuesday
