Elin Electronics makes muted market debut; shares decline nearly 5% post listing

NEW DELHI: Shares of electronics production providers business Elin Electronics made a muted sector debut on Friday, listing with a price cut of virtually 2 for every cent, towards the issue price of Rs 247. The inventory designed its debut at Rs 243, a decrease of 1.61 for each cent versus the challenge rate on the BSE. It afterwards fell 4.75 for each cent to Rs 235.25.
At the NSE, shares of the firm created its debut at Rs 244, lessen by 1.21 per cent.
The corporation commanded a industry valuation of Rs 1,175.43 crore on the BSE.
The Initial Community Supply (IPO) of Elin Electronics was subscribed 3 occasions previous 7 days.
The IPO had a clean issue of up to Rs 175 crore and an offer-for-sale of up to Rs 300 crore, aggregating up to Rs 475 crore.
Price tag range for the give was at Rs 234-247 a share.
Elin is a maker of conclusion-to-conclude product alternatives for significant brands of lights, supporters, and compact kitchen appliances, and a main fractional horsepower motors producer in the country.