Elin Electronics Limited IPO subscribed 3.09 times on final day

Elin Electronics Limited is a leading electronics manufacturing services ("EMS") manufacturer of end-to end product solutions for major brands of lighting, fans, and small/ kitchen appliances in India has received bids of 4,39,62,960 shares against the offered 1,42,09,386 equity shares, at a price band of ₹234-247, according to the data available on the stock exchanges.

Overall the issue was subscribed 3.09 times on the final day of bidding led by QIB and NII portion.

Retail Portion was subscribed 2.20 times followed by Non-Institutional segment that saw a response of 3.29 times. The reserved portion for qualified institutional buyer portion saw a subscription of 4.51 times.

Axis Capital Limited, and JM Financial Limited are the book running lead manager to the issue and KFin Technologies Private Limited is the registrar to the offer. The equity shares are proposed to be listed on the Main Board of BSE and NSE.

Source : Equity Bulls

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ElinElectronics FundRaising IPO Subscription