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Elin Electronics IPO: The last listing of the year 2022 on the Stock Exchange has also been very disappointing and disappointing. The listing of electronics manufacturing service provider Elin Electronics is below the IPO price. The listing of the company’s stock has been done at Rs 244 per share while the company raised funds from the market at Rs 247 in the IPO. At present, the stock of Allin Electronics is trading at Rs 239 with a decline of 3 per cent.
The stock of Allin Electronics was listed on the stock exchange at Rs 244 but shortly after that the stock fell to the level of Rs 235.35. After the listing, the market cap of the company has come down to the level of Rs 1177 crore. The book value of the share is Rs 111.68. The company raised funds in the IPO at an issue price of Rs 247 at a face value of Rs 5.
The IPO (Initial Public Offering) of Allin Electronics was subscribed only 3.09 times. Many brokerage houses were bullish about this IPO but this IPO has been subscribed less than expected. According to data from the National Stock Exchange, the company’s IPO received bids for a total of 4,39,67,400 shares for 1,42,09,386 shares. The reserve quota for institutional investors was subscribed 4.51 times, while the non-institutional investors’ quota was subscribed 3.29 times. The quota reserved for retail investors was subscribed 2.20 times.
The company has raised a total of Rs 475 crore through this IPO. New shares worth Rs 175 crore have been issued under the IPO and Rs 300 crore have been made under the Offer for Sale (OFS). The IPO was open for applications from 20 December to 22 December.
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Elin Electronics Company manufactures lights, fans and kitchen accessories for many major brands. Due to the company’s better financial results, good business model and attractive valuation, most of the brokerage houses had advised investors to invest in the IPO.
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