Haryana based Eldeco Infrastructure and Properties Limited 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 crores and Rs 98 crores respectively
The Company, in consultation with the book-running lead managers, 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 material subsidiary of the company. The remaining funds will be utilised for general corporate purposes.
The Offer is being made through the book-building process, wherein not less than 75% of the net offer is allocated to Qualified Institutional Buyers, not more than 15% of the net offer is allocated to Non-Institutional Bidders, and not more than 10% of the net offer is allocated to Retail Individual Bidders. A portion is also reserved for Eligible Employees.
Eldeco is an established 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 (Source: C&W Report). 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, amounting to over 50 million sq. ft.
Eldeco is recognized for its commitment to quality construction and timely delivery, which has enabled it to build widespread trust in the markets it operates. 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.
The Company’s presence extends across multiple locations in North India, including Delhi, Noida, Greater Noida, and Bareilly in Uttar Pradesh; Sohna, Gurugram, Panipat, Sonipat, and Panchkula in Haryana; Jalandhar and Ludhiana in Punjab; Sirmaur in Himachal Pradesh; Neemrana in Rajasthan; and Rudrapur and Narendra Nagar in Uttarakhand.
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.
Leave a Reply