Can you tell me about the Elin Electronics IPO?

Elin Electronics an Electronic Manufacturing Services (EMS) provider, has got SEBI go-ahead for its Rs.760 crore IPO. The Elin IPO will comprise of a fresh issue of Rs.175 crore and an OFS of Rs.585 crore. Fresh issue proceeds are likely to be used to repay debt and to bankroll the working capital and expansion of existing plants. Some of the key products in its EMS portfolio include LED lighting, fans and switches, small appliances and fractional horsepower.