Eldorado Agritech files DRHP with Sebi for Rs 1,000 crore IPO

Telangana-based Eldorado Agritech, the company behind the brand Srikar Seeds, has filed draft papers with market regulator SEBI to raise Rs 1,000 crore through an initial public offering (IPO). According to the DRHP, the issue will comprise a fresh issue of shares worth Rs 340 crore and an offer for sale (OFS) of shares worth Rs 660 crore by existing shareholders.

Among the promoters, Srinivasa Rao Linga will sell shares worth about Rs 500 crore, while Usha Rani Papineni will offload shares worth around Rs 160 crore.

Use of proceeds

Eldorado plans to utilize about Rs 245 crore from the fresh issue to repay or prepay certain borrowings. The remainder will be allocated to general corporate purposes.

Company profile

Eldorado Agritech is a fast-growing agro-sciences company offering end-to-end “seed to harvest” solutions. Its business spans seed innovation, crop care products, R&D, production, processing, marketing, and distribution.

The company provides seeds across major crops such as maize, paddy, cotton, wheat, pearl millet (bajra), and several vegetables. Its portfolio includes 226 hybrids and open-pollinated seeds across 47 crops.

According to the F&S Report, Eldorado is the fastest-growing agro-sciences company among listed peers in India, registering a revenue CAGR of 27.92% between FY23 and FY25.

The company also has a strong regulatory and R&D base. As of June 30, 2025, it had 269 registrations for agrochemical formulations, 43 registrations for specialty fertilizers, and 32 registrations for bio-stimulant products. Additionally, it has filed nine patent applications for agrochemical products.

Financials

For FY25, Eldorado reported revenue of Rs 441 crore and a net profit of Rs 71 crore.

Lead managers

Anand Rathi Advisors Limited and Equirus Capital Private Limited will act as the book-running lead managers for the IPO.

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