Eldeco Infrastructure Files Draft Papers for ₹1,000-Crore IPO
Eldeco Infrastructure and Properties Ltd, a leading real estate developer, has filed its draft red herring prospectus (DRHP) with SEBI to raise ₹1,000 crore through an IPO. The funds will be used for debt reduction and corporate purposes.
Eldeco InfrastructureIpoReal EstateSebiDebt ReductionReal EstateOct 06, 2025
The company has also mentioned that it may consider a pre-IPO placement of up to ₹160 crore. If such a placement is carried out, the size of the fresh issue will be reduced accordingly. Proceeds from the fresh issue are primarily intended for debt reduction and corporate purposes. Eldeco has allocated ₹600 crore for the repayment or prepayment of certain outstanding borrowings availed by its subsidiary, Eldeco Infracon Realtors Ltd. The remaining funds will be utilized for general corporate requirements, providing financial flexibility and supporting the company’s future expansion.
Headquartered in Haryana, Eldeco Infrastructure is a prominent developer in north India with a strong presence across Delhi-NCR and in tier-II and tier-III cities. The group has a track record of more than 25 years and has delivered 86 projects as of March 31, 2025. These projects include residential townships, low-rise apartments, and group housing developments. As of the same date, the company was executing 19 ongoing projects with a cumulative saleable area of 7.24 million square feet and had planned 18 forthcoming projects with a total saleable area of 7.37 million square feet across 14 cities.
The company’s financial performance has shown significant growth in the last fiscal year. Its revenue from operations nearly tripled in FY25, reaching ₹695 crore compared to ₹241 crore in FY24. This sharp increase was attributed to progress across its ongoing projects and a rise in housing demand in its key operating regions. The filing for an IPO comes at a time when several developers with exposure to north Indian real estate markets are seeking capital market funding to reduce leverage and expand operations.
IIFL Capital Services and JM Financial are acting as the book-running lead managers to the issue. Once regulatory clearances are received, Eldeco Infrastructure’s equity shares will be listed on the BSE and NSE. The company’s move to enter the public market aligns with the broader trend in the real estate sector, where developers are turning to IPOs to diversify sources of funding and reduce reliance on borrowings.
Industry analysts note that the IPO will strengthen Eldeco’s balance sheet and enable it to pursue larger development opportunities in fast-growing urban centers. With its established presence in both metropolitan regions like NCR and emerging markets in tier-II and tier-III cities, the developer is positioning itself to capture rising demand for housing in northern India. The company expects that the funds raised through the IPO will not only support debt reduction but also provide it with the financial strength required for expansion over the coming years.
Frequently Asked Questions
What is the total amount Eldeco Infrastructure aims to raise through its IPO?
Eldeco Infrastructure aims to raise ₹1,000 crore through its IPO.
How much of the IPO will be a fresh equity issue?
The fresh equity issue will be ₹800 crore.
Who are the promoters of Eldeco Infrastructure and how much are they offloading?
The promoters are Pankaj Bajaj and Bandana Kohli, offloading shares worth ₹102 crore and ₹98 crore, respectively.
What is the primary use of the funds raised through the IPO?
The primary use of the funds will be for debt reduction and corporate purposes, with ₹600 crore allocated for the repayment of outstanding borrowings.
Which cities does Eldeco Infrastructure have a strong presence in?
Eldeco Infrastructure has a strong presence in Delhi-NCR and various tier-II and tier-III cities across north India.
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