Eldeco Infrastructure Files Rs 1,000 Crore IPO Papers with SEBI
Eldeco Infrastructure And Properties Ltd. has filed for an IPO worth Rs 1,000 crore with SEBI. The IPO includes a fresh issue of Rs 800 crore and an OFS of Rs 200 crore. The company plans to list on NSE and BSE, with IIFL Capital and JM Financial as lead managers. Funds will be used to repay subsidiary debt and for corporate purposes. Eldeco has completed 86 projects and has 19 ongoing projects across 14 cities. Despite increased revenue, the company reported a loss in fiscal 2025.
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Eldeco Infrastructure And Properties Ltd., a prominent real estate developer based in Haryana, has taken a significant step towards going public by filing preliminary papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 1,000 crore.
IPO Structure and Details
The proposed IPO comprises two components:
- A fresh issue of shares worth Rs 800 crore
- An offer-for-sale (OFS) of up to Rs 200 crore by promoters Pankaj Bajaj and Bandana Kohli
The company is also considering a pre-IPO placement of up to Rs 160 crore, which, if executed, would reduce the fresh issue size accordingly.
Listing and Management
Eldeco Infrastructure plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The company has appointed IIFL Capital and JM Financial as the book-running lead managers for the IPO.
Use of Proceeds
The funds raised from the IPO will be allocated as follows:
- Rs 600 crore to repay borrowings of its subsidiary, Eldeco Infracon Realtors Ltd.
- The remaining amount for general corporate purposes
Company Profile and Operations
Eldeco Infrastructure And Properties Ltd. is a real estate developer with a strong presence in North India and the Delhi-NCR region. The company's track record includes:
- Delivery of 86 completed projects
- Currently managing 19 ongoing projects across 14 cities
Financial Performance
The company's recent financial performance shows:
| Fiscal Year | Revenue from Operations | Profit/Loss |
|---|---|---|
| FY 2023 | Rs 694.98 crore | Rs -63.76 crore (Loss) |
| FY 2022 | Rs 240.73 crore | Rs 10.11 crore (Profit) |
Despite a significant increase in revenue from operations in FY 2023, the company reported a loss compared to a profit in the previous year.
The IPO filing by Eldeco Infrastructure And Properties Ltd. marks a crucial milestone for the company as it seeks to tap into the public markets for growth capital.
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