Mumbai: Elin Electronics, whose initial public offering (IPO) received a strong response during the three-day bidding process last week, is likely to announce its allotment status later today.

The Kolkata-based company’s IPO consisted of fresh issue of shares worth up to Rs 175 crore, and an offer for sale by promoter entities and other shareholders worth up to Rs 300 crore.

The IPO was subscribed 3.09 times following strong response across all investor categories.

Incorporated in 1969, Elin Electronics is a leading electronics manufacturing services provider. The company offers end-to-end product solutions for major brands of lighting, fans, and small/ kitchen appliances in India, and is one of the largest fractional horsepower motor manufacturers in the country.

Last seen, shares of the company were trading at a discount of Rs 7 to the issue price of Rs 247 in the grey market or the unofficial market.

Majority of the brokerage firms were positive on the issue and recommended subscribing to it given the positive industry outlook and relative valuations compared to the listed peers.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Elin Electronics Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on ‘I am not a Robot’ and hit submit.

You can also check the allotment status on the online portal of Link Intime India Private Limited (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and it electronically processes all applications, and carries out the allotment process as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and upload refunds, and attend to all investor-related queries after the issue is completed.

Follow these steps to check the status of allotment:

1) Go to the web portal of Link Intime India Private Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised

3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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