Eldeco Infrastructure files draft papers with Sebi for ₹1,000-cr IPO

The Haryana-based company may consider a pre-IPO placement for up to ₹160 crore. If such placement is completed, the fresh issue size will be reduced

Real estate developer Eldeco Infrastructure and Properties Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial public offering (IPO).

The issue comprises a mix of fresh issues of shares worth Rs 800 crore and an offer for sale up to Rs 200 crore by promoters, according to the draft red herring prospectus (DRHP) dated September 30.

The promoters, Pankaj Bajaj and Bandana Kohli, are offering equity shares aggregating up to Rs 102 crore and Rs 98 crore, respectively.

The Haryana-based company may consider a pre-IPO placement for up to Rs 160 crore. If such placement is completed, the fresh issue size will be reduced.

Proceeds from the fresh issue worth Rs 600 crore will be used for repayment or prepayment of certain outstanding borrowings availed by Eldeco Infracon Realtors Ltd, a subsidiary of the company. The remaining funds will be utilised for general corporate purposes.

Eldeco is a real estate developer in north India with a strong presence in Delhi-NCR as well as tier-II and tier-III cities. With a legacy of 25 years, the company has delivered 86 projects as of March 31, 2025, comprising residential townships, low-rise apartments, and group housing developments.

Also, the company had 19 ongoing projects with a total saleable area of 7.24 million sq ft and 18 forthcoming projects with a total saleable area of 7.37 million sq ft, spread across 14 cities as of March 2025.

In FY25, the company's revenue from operations surged nearly threefold to Rs 695 crore compared to Rs 241 crore in FY24.

IIFL Capital Services and JM Financial are the book running lead managers to the issue.