Elin Electronics IPO listing date today. Experts predict ‘flat’ debut of shares

According to stock market experts, Elin Electronics IPO was attractively priced compared to its peers but the company is operating in a highly competitive market. Majority of Elin Electronics’ revenue is derived from a limited number of customers. But, due to shattered primary market sentiments, the public issue received lacklustre response from investors and hence, stock market experts believe that Elin Electronics share price may have a ‘subdued ‘ or ‘flat’ debut today in secondary markets.

Speaking on Elin Electronics IPO listing price prediction, Abhay Doshi, Founder at UnlistedArena.com — dealing in Pre-IPO & Unlisted Shares said, “With back to back weak listings in primary market, the sentiments have almost shattered. The IPO of Elin Electronics got lacklustre response and is expected to list around its issue price only just like recent subdued IPO listings.”

Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, “Elin Electronics Limited is a leading electronics manufacturing services (EMS) provider in the country. The company has an established market position and strong customer relationships. It also has consistent financial performance with strong revenue growth and a stable margin. However, the company is operating in a highly competitive market, and the majority of its revenue is derived from a limited number of customers. The issue had a P/E valuation of 25.75, which was attractively priced when compared to its peers.”

Asked about Elin Electronics IPO listing gain that an allottee can expect, Pravesh Gour said that primary market sentiments are subdued and secondary market sentiments are also not conducive. Hence, allottees can expect flat or subdued listing of Elin Electronics shares.

Expecting flat debut for Elin Electronics shares, Ravi Singhal, CEO at GCL Securities said, “In last five years, Elin Electronics Ltd has reported more than 30 per cent growth on revenue front. The stock may have a flat listing due to weak primary and secondary market sentiments but allottees can hold the stock for short term target of ₹270 apiece.”

Asked about Elin Electronics IPO listing price, Ravi Singh, Vice President and Head of Research at Share India said, “As per the current market scenario and recent IPO listing trends, we expect Elin Electronics IPO to list around the upper band price of ₹247 or with a mild premium of around 2 to 3 per cent on the listing day.”

What Elin Electronics IPO GMP signals?

According to primary market observers, shares of Elin Electronics are available at a discount of ₹4 in grey market today. This means grey market is expecting that Elin Electronics IPO listing price would be around ₹243 ( ₹247 – ₹4).

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.