Eldorado Agritech files draft papers with SEBI for ₹1,000cr IPO
What's the story
Telangana-based Eldorado Agritech, the company behind Srikar Seeds, has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise ₹1,000 crore. The issue comprises a fresh issue of shares worth ₹340 crore and an offer for sale (OFS) of shares worth ₹660 crore by existing shareholders. Promoters Srinivasa Rao Linga and Usha Rani Papineni will sell shares worth about ₹500 crore and ₹160 crore, respectively, through OFS.
Fund utilization
Fresh issue to be used for repayment of borrowings
Eldorado Agritech plans to use about ₹245 crore from fresh issue to repay or prepay certain borrowings. The rest will be used for general corporate purposes. The company is a fast-growing agro-sciences firm providing end-to-end "seed to harvest" solutions across seed innovation, crop care products, R&D, production, processing, marketing, and distribution. It offers seeds for major crops like maize, paddy (rice), cotton, wheat, pearl millet (bajra), and vegetables with a portfolio of 226 hybrids and OPV seeds for 47 crops.
Growth trajectory
Fastest-growing agro-sciences company in India
Eldorado Agritech is the fastest-growing agro-sciences company among listed peers in India, with a revenue CAGR of 27.92% between FY23 and FY25. As of June 30, 2025, it had 269 registrations for agrochemical formulations, 43 registrations for specialty fertilizers, and 32 registrations for bio-stimulant products. The company has also filed nine patent applications for agrochemical products under the Indian Patents Act.
Financials
Key details about the IPO
For FY25, Eldorado Agritech reported a revenue of ₹441 crore and a net profit of ₹71 crore. Anand Rathi Advisors Limited and Equirus Capital Private Limited will be the book-running lead managers for the IPO. The company may also consider raising up to ₹65 crore in a pre-IPO round before launching its main public offering.