NEW DELHI: Eldeco Infrastructure and Properties has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) as part of its initial public offering (IPO) initiative.
The offering includes a combination of fresh share issues totaling ₹800 crore and an offer-for-sale amounting to ₹200 crore from promoter selling shareholders. Each equity share carries a face value of ₹5.
The promoters, Pankaj Bajaj and Bandana Kohli, are selling equity shares worth ₹102 crore and ₹98 crore, respectively, each with a face value of ₹5.
The company may also consider a pre-IPO placement of up to ₹160 crore, based on discussions with the book-running lead managers.
From the proceeds of the fresh issue, ₹600 crore will be allocated for repaying or prepaying certain outstanding loans of Eldeco Infracon Realtors, a significant subsidiary. The remaining funds will be directed towards general corporate needs.
The offer will follow a book-building approach, designating at least 75% of the net offer to qualified institutional buyers, up to 15% to non-institutional bidders, and a maximum of 10% to retail individual bidders.
As of March 31, 2025, the company is managing 19 ongoing projects with a total saleable area of 7.24 million sq ft, in addition to 18 upcoming projects covering 7.37 million sq ft across 14 cities.
In fiscal 2025, its operational revenue increased nearly threefold to ₹694.98 crore, up from ₹240.73 crore in fiscal 2024.
IIFL Capital Services and JM Financial are serving as the book-running lead managers, while KFin Technologies is the registrar for the offering.
