Realty developer Eldeco files DRHP, to raise upto Rs 1,000 crore via IPO
Eldeco Infrastructure and Properties Ltd has filed a DRHP with SEBI for an IPO, aiming to raise ₹1,000 crore through fresh shares and an offer-for-sale, funding debt repayment and corporate purposes.
By Faizan Haidar, ET Bureau |
Agencies
Haryana-based Eldeco Infrastructure files DRHP with SEBI to raise ₹1,000 crore via IPO, supporting debt repayment and expansion across Delhi-NCR and tier II–III cities.
Haryana based realty developer Eldeco Infrastructure and Properties Ltd has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering.
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 promoter selling shareholders. The face value will be Rs 5 per equity share.
The promoters Pankaj Bajaj and Bandana Kohli are offering equity shares of face value Rs. 5 each through an Offer for Sale, aggregating up to Rs 102 crore and Rs 98 crore respectively.
The company, in consultation with the book-running lead managers, may consider a pre-IPO Placement for up to Rs 160 crore.
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 material 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, having undertaken completed and ongoing projects across more than 20 cities in India since 2000.
The company has delivered 86 projects as of March 31, 2025, comprising residential townships, low-rise apartments, and group housing developments, amounting to over 50 million sq. ft.
As of March 31, 2025, the Company has 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.
In fiscal 2025, the Company’s revenue from operations surged nearly threefold to Rs 694.98 crore compared to Rs. 240.73 crore in fiscal 2024.
IIFL Capital Services and JM Financial are the book running lead managers, and Kfin Technologies Limited is the registrar to the issue. The shares are proposed to be listed on the BSE and NSE.
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 promoter selling shareholders. The face value will be Rs 5 per equity share.
The promoters Pankaj Bajaj and Bandana Kohli are offering equity shares of face value Rs. 5 each through an Offer for Sale, aggregating up to Rs 102 crore and Rs 98 crore respectively.
The company, in consultation with the book-running lead managers, may consider a pre-IPO Placement for up to Rs 160 crore.
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 material 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, having undertaken completed and ongoing projects across more than 20 cities in India since 2000.
ADVERTISEMENT
The company has delivered 86 projects as of March 31, 2025, comprising residential townships, low-rise apartments, and group housing developments, amounting to over 50 million sq. ft.
As of March 31, 2025, the Company has 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.
In fiscal 2025, the Company’s revenue from operations surged nearly threefold to Rs 694.98 crore compared to Rs. 240.73 crore in fiscal 2024.
IIFL Capital Services and JM Financial are the book running lead managers, and Kfin Technologies Limited is the registrar to the issue. The shares are proposed to be listed on the BSE and NSE.
ADVERTISEMENT
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
