Ekkaa Electronics Files for ₹725 Crore IPO; Abakkus, Mukul Agrawal Among Investors

Ekkaa Electronics (India) is preparing to enter the public markets with a ₹725 crore initial public offering, as the consumer electronics and appliances manufacturer looks to use part of the fresh capital to reduce debt and meet its working capital requirements. 

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The Noida-headquartered company has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI). The proposed IPO will comprise a fresh issue of shares worth up to ₹525 crore and an offer for sale of ₹200 crore by its promoters. 

The company counts Sunil Singhania’s Abakkus Asset Manager and investor Mukul Mahavir Agrawal among its existing shareholders. 

Promoters for sale of shares valued ₹200 crores 

Promoters namely, Chandra Prakash Gupta and his wife, Madhuri Gupta, would take part in the OFS of ₹200 crores from the IPO. 

Since the OFS entails selling shares held by existing shareholders, the money thus collected will not accrue to the company. 

The company may also look to raise up to ₹105 crores via pre-IPO placements prior to submitting its red herring prospectus to the Registrar of Companies. 

In case the company decides to undertake such a pre-IPO placement, the size of the fresh issue would be proportionally decreased by the amount raised, as stated in the DRHP of September 24. 

₹225 crore earmarked for debt repayment 

Debt reduction is one of the main uses planned for the proceeds from the fresh issue. 

Ekkaa Electronics intends to use ₹225 crore to repay borrowings. The company had outstanding debt of ₹396.1 crore as of June 2026. 

Another ₹150 crore is proposed to be used towards working capital requirements, while the balance will be deployed for general corporate purposes. 

Abakkus and Mukul Agrawal already hold stakes 

Ekkaa Electronics has attracted investments from some well-known market investors ahead of its proposed listing. 

Sunil Singhania’s Abakkus Asset Manager, through Abakkus Four2eight Opportunities Fund, holds a 6.5% stake in the company. The investment was made through a private placement in July 2026. 

Mukul Mahavir Agrawal holds another 2.7% stake, following an investment made through a private placement in September 2025. 

Neither investor is identified as a seller in the proposed ₹200 crore OFS in the report. 

What Ekkaa Electronics manufactures 

Ekkaa Electronics is engaged in producing electronic products in the capacity of integrated ODM & OEM of consumer electronics and appliances. 

Products manufactured by Ekkaa include LED TV, Semi-Auto Washers & Washing Machines, Air Coolers, Multimedia Speakers, and Induction & Infrared Cooktops. 

The company has installed capacity to manufacture 28.21 lakh LED television units and 3.3 lakh semi-automatic washing machine and washer units. 

Its manufacturing capacity also includes 6 lakh multimedia speaker units, 9 lakh induction and infrared cooktop units and 5.47 lakh personal and commercial air cooler units. 

The company competes with listed players including Dixon Technologies, Amber Enterprises and PG Electroplast. 

Revenue earned by Ekkaa Electronics for FY26 is ₹1,221.7 crore 

Consolidated revenue of ₹1,221.7 crore has been earned by Ekkaa Electronics in the financial year 2026. 

Its consolidated profit in the fiscal was ₹65.3 crore. 

The coming IPO will generate new funds for payment of debt as well as working capital along with OFS by which the promoters can sell off their shares. 

Merchant bankers for this issue have been appointed by Motilal Oswal Investment Advisors and Shannon Advisors. 

As the Draft Red Herring Prospectus (DRHP) is now submitted with SEBI, the coming IPO will include ₹525 crore fresh issue and ₹200 crore promoter OFS for total ₹725 crore. IPO price band and issue dates have not yet been disclosed by the company.