Ekkaa Electronics (India) Ltd files ₹725cr IPO plan with OFS
Business
Ekkaa Electronics (India) Ltd. just filed plans to raise ₹725 crore through an IPO.
The offer mixes fresh issue of equity shares worth up to ₹525 crore and an Offer for Sale (OFS) of shares worth up to ₹200 crore by the promoters, Chandra Prakash Gupta and Madhuri Gupta.
They might also do a pre-IPO placement of up to ₹105 crore, which could tweak the final numbers.
Ekkaa Electronics IPO proceeds repay borrowings
The proceeds from the fresh issue will be used to repay or prepay certain borrowings, fund working capital requirements, and meet general corporate expenses.
The company designs and builds electronics like LED TVs and washing machines from scratch.
Motilal Oswal Investment Advisors and Shannon Advisors are leading the IPO process.