New Delhi: The three-day initial public offering of Elin Electronics opened for subscription on Tuesday. The company aims to generate an proceeds of Rs 475 crore from the IPO launched at a price band of Rs 234-247 with a bid size of 60 shares.
After public subscription, the shares are expected to go live on the stock exchanges on December 30, 2022.
Should you buy Allin Electronics IPO?
Brokerage Prabhudas Lilladher Advisory Team has “Subscribe” rating to the IPO.
“One can subscribe to the IPO for the long term as Allin is a leading Electronics Manufacturing Services (EMS) manufacturer of end-to-end product solutions for leading brands of lighting, fans and small/kitchen appliances in India, and it One is the largest fractional horsepower motors maker in India, the brokerage said in a note.
Anand Rathi has also given ‘Subscribe-Long Term’ rating to the IPO.
“As Allin’s Revenue/PAT is growing at a strong CAGR of 18%/19% (FY20-22) respectively, coupled with consistent margins coupled with a strong industry outlook, we recommend “SUBSCRIBE-Long Term” rating for this IPO. Recommend,” the brokerage said in a note.
Allin Electronics, a flagship company of Allin Group was established in 1969 in Delhi NCR. It offers a variety of products and services to its original equipment manufacturers (OEM) customers, including electronic manufacturing services, design and manufacturing of electric motors, lighting products and automotive components.