Realty developer Eldeco files DRHP, to increase RS 1,000 crore via IPO

Realty developer Eldeco Infrastructure and Properties LTD based on Haryana has submitted his Concept Red Herring Prospectus (DRHP) to Capital Markets Regulator, Securities and Exchange Board of India (Sebi) to raise funds via a first public offer.

The issue consists of a mix of new problems of shares with a value of RS 800 Crore and an offer for sale up to RS 200 Crore by promoter who sells shareholders. The nominal value will be RS 5 per share share.

The Promoters Pankaj Bajaj and Bandana Kohli offer stock shares of nominal value RS. 5 each via an offer for sale, up to RS 102 Crore and RS 98 Crore.

In consultation with the book-running lead managers, the company can consider a pre-ipo placement for a maximum of RS 160 crore.

The proceeds from the new issue worth RS 600 CRORE will be used for reimbursement or advance payment of certain outstanding loans used by Eldeco Infracon Realtors Ltd., A material subsidiary of the company. The remaining funds are used for general business purposes.

Eldeco is a real estate developer in North India with a strong presence in Delhi-NCR as well as Tier II and Tier III cities, which have completed completed projects and current projects in India since 2000 in more than 20 cities in India. 2025, the company has 19 current projects with a total salable area of ​​7.24 million square meters and 18 coming projects with a total dressable area of ​​7.37 million m², spread over 14 cities.

In Fiscal 2025, the turnover of the company from the activities increased almost triple to RS 694.98 Crore compared to RS. 240.73 CRORE in Fiscal 2024.

IIFL Capital Services and JM Financial are the book Running Lead Managers, and Kfin Technologies Limited is the registrar of the issue. The shares are proposed to be mentioned on the BSE and NSE.