Ekkaa Electronics files papers for ₹725 crore IPO
IPO comprises a fresh issue of equity shares worth up to ₹525 crore and an OFS of shares worth up to ₹200 crore by promoters
Ekkaa Electronics (India) Ltd has filed documents with the securities regulator SEBI to launch an IPO with a target of raising ₹725 crore. The company aims to bolster its financial position and address working capital requirements. The IPO consists of an equity share issue of up to ₹525 crore and a share offer by promoters Chandra Prakash Gupta and Madhuri Gupta, valued at ₹200 crore, according to the Draft Red Herring Prospectus (DRHP) submitted on Thursday.
Apart from this, Ekkaa Electronics might also explore raising an additional ₹105 crore through a pre-IPO placement. The company will adjust the fresh issue size if the additional capital raise takes place. The funds raised will be utilized to settle certain borrowings, finance working capital needs and cover general corporate expenditures.
Ekkaa Electronics is a Delhi-based manufacturer of consumer electronics and appliances, producing LED TVs, washing machines, air coolers, multimedia speakers, induction cooktops, smart displays and metal back covers. The company offers comprehensive services including product design, sourcing, manufacturing, packaging and assembly, with in-house design capabilities.
Motilal Oswal Investment Advisors and Shannon Advisors are the lead managers for the IPO, and investors must submit comments in English through full sentences, adhering to the platform's community guidelines.
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