Eldeco Infrastructure and Properties has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,000 crore through an initial public offering (IPO). The issue comprises a mix of fresh issues of shares worth Rs 800 crore and an offer for sale up to Rs 200 crore by promoters.
Proceeds from the fresh issue worth Rs 600 crore will be used for repayment or prepayment of certain outstanding borrowings availed by Eldeco Infracon Realtors, a subsidiary of the company. The remaining funds will be utilised for general corporate purposes. IIFL Capital Services and JM Financial are the book running lead managers to the issue.
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. With a legacy of 25 years, the company has delivered 86 projects as of March 31, 2025, comprising residential townships, low-rise apartments, and group housing developments.
| Company Name | CMP |
|---|---|
| Lodha Developers | 923.55 |
| Dilip Buildcon | 475.20 |
| DLF | 607.15 |
| Oberoi Realty | 1692.00 |
| Ahluwalia Contract(I | 874.00 |
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