Eldorado Agritech Files DRHP To Raise Rs 1,000 Crore Through IPO
Eldorado Agritech Ltd. on Thursday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include mix of fresh issues of shares worth Rs 340 crore and an offer-for-sale up to Rs 660 crore by promoter selling shareholders.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 65 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Dr. Srinivasa Rao Linga and Usha Rani Papineni are the promoters of the company offloading shares in the offer for sale.
Anand Rathi Advisors Ltd. and Equirus Capital Pvt. are the book-running lead managers for the issue and Bigshare Services Pvt. will be the registrar of the issue.
Proceeds from the fresh issue worth Rs 245 crore will be used for repayment or prepayment of certain portion of outstanding borrowings. The remaining funds will be used for the general corporate purposes.
The Hyderabad-based company is a seed to harvest solutions provider known for its brand Srikar Seeds. It provides customers with comprehensive ‘seed to harvest' solutions, spanning from seed innovation to crop care products, and is engaged in research & development, production, processing, marketing and distribution of seeds comprising a wide range of hybrids and open pollinated varieties.
The company offers seeds across key crops such as maize, paddy (rice), cotton, wheat, bajra (pearl millet) and a broad portfolio of vegetable seeds, with a product portfolio of 226 hybrids and OPV seeds for 47 crops.
As of June, Eldorado Agritech has obtained 269 registrations for its agrochemical formulations from the Central Insecticides Board & Registration Committee and has applied for nine product patents for agrochemical products. Further, it has 43 registrations for speciality fertilizer products and 32 registrations for its bio-stimulant products from the Ministry of Agriculture and Farmers' Welfare.
Eldorado Agritech's revenue from operations increased by 25.3% from Rs 352.2 crore in fiscal 2024 to Rs 441.48 crore in fiscal 2025. Profit for the year rose by 47.3% from Rs 48.78 crore in fiscal 2024 to Rs 71.86 crore in fiscal 2025.
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