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Eldeco Infrastructure and Properties Ltd has submitted draft papers to SEBI seeking approval for an initial public offering (IPO) of INR 1,000 crore. The public issue will include a fresh issue of shares worth INR 800 crore and an offer for sale (OFS) of up to INR 200 crore by its promoters. A portion of the proceeds will be used to repay borrowings of its subsidiary, Eldeco Infracon Realtors Ltd, while the balance will go towards general corporate purposes. With a strong regional footprint and growing revenue, the company is preparing for its next phase of expansion.
Real estate developer Eldeco Infrastructure and Properties Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise INR 1,000 crore through an initial public offering. The issue will include a fresh issue of shares worth INR 800 crore and an offer for sale (OFS) of up to INR 200 crore by promoters. Advertisement
According to the DRHP, promoters Pankaj Bajaj and Bandana Kohli will sell equity shares valued at INR 102 crore and INR 98 crore, respectively. The company has also indicated that it may consider a pre-IPO placement of up to INR 160 crore. If this placement takes place, the total size of the fresh issue will be reduced by an equivalent amount.
The company has outlined that INR 600 crore from the fresh issue proceeds will be used to repay or prepay borrowings availed by Eldeco Infracon Realtors Ltd, its subsidiary. The rest will be deployed for general corporate purposes, which may include operational and business development needs.
Headquartered in Haryana, Eldeco Infrastructure has established a strong presence in North India, especially in Delhi-NCR and across several tier-II and tier-III cities. With more than 25 years of experience, the company has completed 86 projects as of March 2025, including residential townships, low-rise apartments, and group housing developments.
As of the same period, Eldeco had 19 ongoing projects covering a total saleable area of 7.24 million sq ft, along with 18 forthcoming projects spanning 7.37 million sq ft, spread across 14 cities. These figures highlight the company's expanding real estate portfolio and its continued focus on residential development in high-growth regions.
For FY25, Eldeco's revenue from operations rose nearly threefold to INR 695 crore, compared with INR 241 crore in FY24. This sharp increase reflects both higher project completions and improved market demand across its operating cities.
IIFL Capital Services and JM Financial are acting as the book-running lead managers for the proposed IPO. The company's equity shares are proposed to be listed on both BSE and NSE, subject to regulatory approvals.
Source PTI
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