Elin Electronics' public issue subscribed 95% after Day 2

The initial public offering (IPO) of Elin electronics was subscribed 0.95 times or 95 per cent overall at the closing of Day 2 of the three-day public issue.

The overall subscription, so far, was driven mainly by retail and non-institutional investors, data showed.

Through the three-day initial public offering, Elin Electronics aims to generate proceeds worth Rs 475 crore from the public.

The share price band is kept in the range of Rs 234-247, with a bid size of 60 shares.

Elin Electronics, a flagship company of Elin Group, was established in 1969 in Delhi-NCR.

It offers various products and services to its original equipment manufacturers (OEMs) customers, including electronic manufacturing services, design and manufacturing of electric motors, lighting products, and automotive components.

Post the public subscription, the shares are expected to go live on stock exchanges on December 30, 2022.

( With inputs from ANI )

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