Ekkaa Electronics IPO & Unlisted Shares Overview (2026)
· 7 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
Ekkaa Electronics (India) Pvt. Ltd. is preparing for a ₹725 Cr initial public offering following strong financial growth and equity backing from marquee investors including Sunil Singhania's Abakkus Fund and Mukul Agrawal.
Direct answer: Ekkaa Electronics (India) Pvt. Ltd. is a contract electronics manufacturer scaling rapidly in smart LED televisions and appliances. Backed by marquee investors including Sunil Singhania's Abakkus Fund and Mukul Agrawal, the company reported FY26 revenue of ₹1,221.7 Cr ahead of its proposed ₹725 Cr IPO, with analytical coverage provided by BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002.
Business Overview and ODM Manufacturing Model
Incorporated in 2021, Ekkaa Electronics (India) Pvt. Ltd. is a Delhi-headquartered company operating in the Electronics System Design and Manufacturing (ESDM) sector. The firm operates an integrated Original Design Manufacturer (ODM) and Original Equipment Manufacturer (OEM) model. It focuses on research, product design, and large-scale assembly for domestic and international consumer electronics brands on a contract and white-label basis.
| Item | Value | As of |
|---|---|---|
| Market cap | ₹721 Cr | 6 Oct 2026 |
| Face value | ₹10 | 6 Oct 2026 |
| ISIN | INE0T2S01015 | 6 Oct 2026 |
| Sector | Consumer Discretionary | 6 Oct 2026 |
| Listing status | UNLISTED | 6 Oct 2026 |
The company's core product line consists of smart LED televisions spanning high-definition, 2K, and 4K UHD display panels across multiple screen sizes. Beyond television assembly, Ekkaa Electronics has expanded its product catalog to encompass washing machines, audio speakers, induction cooktops, air coolers, and commercial digital signage displays.
Production operations are concentrated across manufacturing facilities located in the Noida and Sonipat-Gannaur belts. The company maintains a monthly manufacturing capacity of approximately 100,000 television units, positioning itself to capitalize on national policy pushes toward domestic electronics localization and import substitution. According to industry projections, the outsourced television manufacturing market in India is expected to expand to ₹32,180 Cr by FY30.
Financial Trajectory and Capital Structure
Ekkaa Electronics has demonstrated notable top-line expansion since commencing full-scale commercial operations at its primary Noida production plant in March 2024. In FY24, the company recorded total revenue of ₹121 Cr. Revenue surged to ₹496.5 Cr in FY25 and reached ₹1,221.7 Cr in FY26 per verified desk data as of 03 Oct 2026.
Operating profitability grew in tandem with sales volumes. Operating EBITDA expanded from ₹55.5 Cr in FY25 to ₹114.5 Cr in FY26. Profit after tax (PAT) rose from ₹23.5 Cr in FY25 to ₹65.4 Cr in FY26, bringing earnings per share (EPS) to ₹76.40 per share on a face value of ₹10.0 per share.
As illustrated in the financial chart above, Ekkaa Electronics experienced significant revenue growth from ₹496.5 Cr in FY25 to ₹1,221.7 Cr in FY26, alongside a sharp increase in net profit to ₹65.4 Cr.
As of 03 Oct 2026, the company's net worth stood at ₹253.96 Cr, supported by reserves and surplus of ₹245.40 Cr against total balance sheet assets of ₹843 Cr. Total borrowings were reported at ₹309.30 Cr. Investors monitoring unlisted opportunities through our Unlisted shares screener or tracking issue timelines via the IPO calendar will note that pre-IPO market valuations can fluctuate across sectors—much as PharmEasy Unlisted Share Price Drops 11.7% in September 2026 contrasted with instances where Transline Technologies Unlisted Share Price Up 12.7% (2026) reflected shifting private market demand. Valuation dynamics and issuer metrics are tracked independently by BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002.
Pre-IPO Capital Structure and Marquee Investments
Ekkaa Electronics is promoted by the Gupta family, led by Managing Director Sagar Gupta alongside co-founders Chandra Prakash Gupta and Madhuri Gupta. As of 03 Oct 2026, the promoter group held 92.83% of total equity share capital, with public shareholders holding 4.10% and other investors holding 3.07% across 9,872,725 outstanding equity shares.
The company completed a Series A private placement in September 2025 that raised approximately ₹110 Cr, assigning the company an indicative post-money valuation of roughly ₹721 Cr. Notably, investor Mukul Agrawal participated in this round with an investment of ₹24 Cr. Subsequently, on 22 Jul 2026, Abakkus Four2eight Opportunities Fund (managed by Sunil Singhania) made a direct investment of ₹100 Cr, acquiring a 6.5% minority stake in the business.
To support its next growth phase, Ekkaa Electronics is preparing for an initial public offering targeting a total issue size of ₹725 Cr. Draft structure plans indicate the offering will include an offer-for-sale (OFS) of ₹200 Cr by existing promoters alongside a fresh issue portion, from which ₹150 Cr is earmarked specifically to satisfy net working capital requirements.
The summary table above outlines the key corporate, financial, and capital structure details for Ekkaa Electronics (India) Pvt. Ltd. as of 03 Oct 2026.
Key Operating Risks and Unlisted Market Considerations
While contract manufacturing benefits from rising domestic consumer demand, potential investors must evaluate several operational and financial risk factors highlighted in corporate disclosures:
- Customer Concentration: The top ten brand clients contributed 66% of total revenue in FY26. The loss of any major client or reduced contract volumes could significantly impact operational revenues.
- Working Capital and Indebtedness: Rapid revenue expansion in ODM operations requires substantial inventory and receivable funding. Total debt reached ₹396 Cr by mid-2026, placing emphasis on successful execution of working capital management.
- Raw Material Cost Pressure: Component and display panel procurement forms a major share of operating expenses. Volatility in international component prices or supply chain disruptions can compress operating margins.
- Unlisted Market Liquidity Risk: Shares of unlisted entities are privately held and do not trade on stock exchange order books. Private transfers depend on off-market counterparty matching, and liquidity remains constrained prior to formal exchange listing.
Proposed Listing Timeline and Desk Assistance
Ekkaa Electronics continues to advance its governance and operational milestones ahead of its target public listing. For complete company details, shareholding updates, and verified financial disclosures, visit the dedicated profile page for Ekkaa Electronics (India) Pvt. Ltd. on BuyUnlistedShares.
For institutional research, transaction guidelines, and demat transfer processes regarding pre-IPO securities, contact our desk at BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002.
Frequently Asked Questions
What does Ekkaa Electronics (India) Pvt. Ltd. do?
Ekkaa Electronics is an electronics contract manufacturer operating an integrated ODM and OEM model. The company designs and manufactures smart LED TVs, washing machines, speakers, air coolers, cooktops, and digital displays for leading domestic and international consumer brands.
Who are the major institutional investors in Ekkaa Electronics?
The company has secured private placement investments from investor Mukul Agrawal, who invested ₹24 Cr during Series A funding in September 2025, and Sunil Singhania's Abakkus Four2eight Opportunities Fund, which invested ₹100 Cr for a 6.5% equity stake in July 2026.
What are the primary components of Ekkaa Electronics' proposed IPO?
The proposed IPO targets an issue size of ₹725 Cr. This includes a ₹200 Cr offer-for-sale (OFS) component by promoters and a fresh issue component where ₹150 Cr will be allocated toward meeting working capital requirements.
Is Ekkaa Electronics listed on stock exchanges, and how do unlisted transactions work?
Ekkaa Electronics is currently an unlisted company with ISIN INE0T2S01015 and CIN U32304DL2021PTC379143. Its equity shares are held in dematerialised form and transferred privately through off-market transfers prior to any public listing on the stock exchanges.
Should retail investors apply for Ekkaa Electronics unlisted shares or the upcoming IPO?
We do not make that call. BuyUnlistedShares provides factual information, audited financial trends, and transaction support, but does not provide investment recommendations or suitability advice. Investors should independently review issuer filings and consult SEBI-registered financial advisors.
Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
