Eldeco Infra files DRHP for ₹1,000-cr IPO; promoters to sell ₹200-cr stake

Eldeco Infrastructure IPO comprises a fresh issue of equity shares aggregating up to ₹800 crore and an OFS of equity shares aggregating up to ₹200 crore by promoter selling shareholders

Eldeco Infrastructure IPO: Eldeco Infrastructure, a Haryana-based real estate developer, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi).

 

The maiden public issue comprises a fresh issue of equity shares aggregating up to ₹800 crore and an offer for sale (OFS) of equity shares aggregating up to ₹200 crore by promoter selling shareholders. The total offer size comprises equity shares of face value of ₹5 each aggregating up to ₹1,000 crore. Promoters Pankaj Bajaj and Bandana Kohli are selling equity shares through an OFS, totalling ₹102 crore and ₹98 crore, respectively. 

 

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The company, in consultation with the book-running lead managers, may opt for a pre-IPO placement of up to ₹160 crore. If this placement takes place, the size of the fresh issue will be reduced accordingly.

 

Kfin Technologies is the registrar of the issue. IIFL Capital and JM Financial are the book-running lead managers of the issue. 

 

According to the DRHP, the company proposes to utilise ₹600 crore from the net fresh issue proceeds for repayment or prepayment of debt availed by Eldeco Infracon Realtors, a material subsidiary of the company. The remaining funds will be used for general corporate purposes.

 

The company has reserved not less than 75 per cent of the net offer for Qualified Institutional Buyers (QIBs), not more than 15 per cent for Non-Institutional Bidders, and not more than 10 per cent for Retail investors. A portion is also reserved for eligible employees. 

About Eldeco Infrastructure

Eldeco Infrastructure is an established real estate developer in North India with a strong presence in Delhi-NCR and tier II and tier III cities, having completed and ongoing projects in over 20 cities in India since 2000. As of March 31, 2025, the company has delivered residential townships, low-rise apartments, and group housing across 86 projects, amounting to more than 50 million square feet (msf). As of March 31, 2025, the company has 19 ongoing projects amounting to a saleable area of 7.24 msf and 18 forthcoming projects amounting to a saleable area of 7.37 msf, in 14 cities.  

Eldeco Infrastructure financial snapshot

In the financial year ended March 31, 2025 (FY25), Eldeco Infrastructure reported revenue from operations of ₹694.97 crore compared to ₹240.72 crore in the previous fiscal. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) fell 29 per cent to ₹114.22 crore from ₹160.6 crore in FY24. The company posted a loss of ₹63.7 crore in FY25 compared to a profit after tax of ₹10.1 crore in FY24.