Eldeco Infrastructure filed DRHP with SEBI to launch IPO; check issue details

Eldeco Infrastructure and Properties, based in Haryana, has filed its draft red herring prospectus (DRHP) with SEBI to raise Rs 1,000 crore via an initial public offering. The issue comprises a fresh issue of shares worth Rs 800 crore and an offer-for-sale up to Rs 200 crore by promoter selling shareholders.

The face value per share is Rs 5. The offer, managed by IIFL Capital Services and JM Financial, will list on both BSE and NSE. The IPO will reserve not less than 75% for Qualified Institutional Buyers (QIB), up to 15% for Non-Institutional Bidders (NII), and 10% for Retail Individual Bidders (RII), also including a reserved portion for eligible employees. Kfin Technologies Limited will serve as the registrar.

Proceeds from the fresh issue, amounting to Rs 600 crore, are earmarked for repayment or prepayment of certain outstanding borrowings availed by EldecoInfracon Realtors., a material subsidiary. The remainder will be allocated for general corporate purposes.

The IPO structure involves both a fresh issue and an offer-for-sale, with promoters Pankaj Bajaj and Bandana Kohli offering equity shares of face value Rs 5 each, aggregating up to Rs 102 crore and Rs 98 crore respectively. There is also a provision for a pre-IPO placement of up to Rs 160 crore, which, if exercised, will reduce the fresh issue size. The offer follows the book-building process as per regulatory guidelines.

Eldeco Infrastructure is a prominent real estate developer in North India, with a significant presence in Delhi-NCR and tier II and III cities. Over 25 years, the company has delivered 86 projects as of March 31, 2025, including residential townships and group housing, totalling over 50 million sq. ft developed area. The company is recognised for quality construction and on-time delivery, establishing trust in the regions it serves.

As of March 31, 2025, Eldeco Infrastructure has 19 ongoing projects, representing a total saleable area of 7.24 million sq. ft, and 18 forthcoming projects covering 7.37 million sq. ft in 14 cities. Their development footprint spans Delhi, Noida, Greater Noida, Bareilly, Sohna, Gurugram, Panipat, Sonipat, Panchkula, Jalandhar, Ludhiana, Sirmaur, Neemrana, Rudrapur, and Narendra Nagar.

In fiscal 2025, the company’s revenue from operations surged to Rs 694.98 crore, nearly three times higher than the Rs 240.73 crore recorded in fiscal 2024.

The shares are proposed to list on both BSE and NSE, subject to necessary approvals. Further details such as the lot size, price band, minimum investment requirements, and listing dates will be specified in subsequent regulatory filings as the IPO process advances.