Eldeco Infrastructure Seeks Rs 1,000 Crore IPO, Files Draft Papers with SEBI
Eldeco Infrastructure and Properties Ltd has filed draft papers with SEBI for a Rs 1,000 crore IPO. The offering includes a fresh issue of Rs 800 crore and an OFS of Rs 200 crore. Funds will be used to repay subsidiary borrowings and for general corporate purposes. The company, with a strong presence in North India, has 19 ongoing and 18 forthcoming projects. Its revenue grew nearly threefold from Rs 241 crore in FY24 to Rs 695 crore in FY25.
*this image is generated using AI for illustrative purposes only.
Eldeco Infrastructure and Properties Ltd, a prominent real estate developer, has taken a significant step towards going public by filing draft papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) worth Rs 1,000 crore.
IPO Structure
The proposed IPO comprises two components:
- Fresh issue of shares worth Rs 800.00 crore
- Offer for sale (OFS) of Rs 200.00 crore by promoters:
- Pankaj Bajaj: Rs 102.00 crore
- Bandana Kohli: Rs 98.00 crore
The company is also considering a pre-IPO placement of up to Rs 160.00 crore, which could potentially reduce the size of the fresh issue.
Use of Proceeds
The funds raised from the IPO will be allocated as follows:
- Rs 600.00 crore to repay borrowings of subsidiary Eldeco Infracon Realtors Ltd
- Remaining funds for general corporate purposes
Company Overview
Eldeco Infrastructure and Properties Ltd is a Haryana-based real estate developer with a strong presence in North India, particularly in the Delhi-NCR region and tier-II/III cities. The company has a track record of delivering 86 projects over 25 years.
Current Projects
- 19 ongoing projects covering 7.24 million sq ft
- 18 forthcoming projects spanning 7.37 million sq ft across 14 cities
Financial Performance
The company has shown impressive growth:
| Fiscal Year | Revenue from Operations (in Rs crore) |
|---|---|
| FY25 | 695.00 |
| FY24 | 241.00 |
This represents a nearly threefold increase year-over-year.
IPO Details
Book Running Lead Managers:
- IIFL Capital Services
- JM Financial
This IPO represents a significant move for Eldeco Infrastructure and Properties Ltd as it seeks to capitalize on its strong presence in the North Indian real estate market and fuel further growth and expansion.
17
