Eldeco Infrastructure files ₹1,000 crore IPO with SEBI
Eldeco Infrastructure Limited just filed papers with SEBI for a ₹1,000 crore IPO.
The offer includes a fresh issue of ₹800 crore in new shares plus a ₹200 crore offer-for-sale by promoters Pankaj Bajaj and Bandana Kohli.
There's also room for a pre-IPO placement of up to ₹160 crore if they choose.
Who are they?
Eldeco is a Haryana-based real estate developer that has been involved in projects since 2000.
They've wrapped up 86 projects—think townships, apartments, and group housing—covering over 50 million square feet so far.
As of March 2025, they're juggling 19 ongoing projects and have another 18 lined up across 14 cities.
Financials and offer details
Eldeco's revenue nearly tripled this past year, jumping from ₹240.73 crore in FY24 to ₹694.98 crore in FY25.
Most of the fresh issue proceeds will go toward paying off loans for their subsidiary, Eldeco Infracon Realtors Ltd; the rest is for general corporate needs.
Shares will be priced at a face value of ₹5 each, with IIFL Capital Services and JM Financial managing the issue.