Eldeco Infrastructure And Properties Ltd. on Wednesday 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 800 crore and an offer-for-sale up to Rs 200 crore by promoter selling shareholders.
The equity shares are proposed to be listed on the National Stock Exchange (NSE) of India Ltd. and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 160 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.
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Pankaj Bajaj and Bandana Kohli are the promoters of the company offloading shares in the offer for sale. IIFL Capital and JM Financial are the book-running lead managers for the issue and Kfin Technologies Ltd. will be the registrar of the issue.
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 Haryana-based company is a leading real estate developer in North India and has a strong hold in Delhi-NCR. The company has delivered residential townships, low rise apartments, and group housing, across 86 projects. As of March 2025, the company had 19 ongoing projects in 14 cities, while there are 17 forthcoming projects.
The revenue from operations in fiscal 2025 nearly triples to Rs 694.98 crore in comparison to Rs 240.73 crore. The company posted loss in financial year 2025 at Rs 63.76 crore in comparison to profit of Rs 10.11 crore reported in financial year ended March 2024.
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