Eldeco Infrastructure Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).
The Haryana-based company’s initial public offering includes a combination of fresh share issues totaling ₹800 crore and an offer-for-sale (OFS) of up to ₹200 crore by promoter selling shareholders. Each equity share will have a face value of ₹5.
Promoters Pankaj Bajaj and Bandana Kohli are offering equity shares through the OFS, with Pankaj Bajaj’s shares amounting to ₹102 crore and Bandana Kohli’s shares totaling ₹98 crore.
Additionally, the company may consider a pre-IPO placement of up to ₹160 crore in consultation with the book-running lead managers. If such a placement occurs, the size of the fresh issue will be accordingly reduced.
The proceeds from the ₹600 crore fresh issue will primarily be utilized for the repayment or prepayment of certain outstanding borrowings of Eldeco Infracon Realtors Ltd., a significant subsidiary of the company. The remaining funds will be allocated for general corporate purposes.
IIFL Capital Services and JM Financial are the book running lead managers, and KFin Technologies Limited is the registrar to the issue.
Company details
Eldeco is a well-established real estate developer in North India, with a significant footprint in the Delhi-NCR region as well as in tier II and tier III cities. Since 2000, the company has been involved in completed and ongoing projects across more than 20 cities in India. With a legacy spanning 25 years, Eldeco has delivered 86 projects as of March 31, 2025, which include residential townships, low-rise apartments, and group housing developments, totaling over 50 million square feet.
The company is renowned for its commitment to quality construction and timely delivery, which has helped foster a strong sense of trust in the markets it serves. As of March 31, 2025, Eldeco has 19 ongoing projects covering a total saleable area of 7.24 million square feet, along with 18 upcoming projects that offer an additional 7.37 million square feet of saleable area, distributed across 14 cities.
Eldeco’s operations extend to various 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 experienced a remarkable surge, nearly tripling to ₹694.98 crore compared to ₹240.73 crore in fiscal 2024.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
