About Eldeco Infrastructure & Properties IPO
The Eldeco Infrastructure and Properties IPO is a book-built issue comprising a fresh issue worth up to ₹800 crore and an offer for sale (OFS) worth up to ₹200 crore. The company filed its DRHP with SEBI on September 30, 2025.
The price band and official dates of subscription and listing will be announced later by the company. The shares are proposed to be listed on the BSE and NSE platforms. The equity shares have a face value of ₹5 each. The book running lead managers (BRLMs) to the issue are IIFL Capital Services Ltd. and JM Financial Ltd., and the registrar to the issue is KFin Technologies Ltd.
Company Background
Eldeco Infrastructure and Properties Ltd. was incorporated on March 16, 2000, in New Delhi, with its registered office located in Faridabad, Haryana. Over more than two decades, the company has evolved from a regional real estate developer into a diversified real estate player engaged in the development of residential townships, high-rise apartments, villas, and commercial complexes. It forms a key part of the “Eldeco Group,” which has a long-standing track record of project execution across North India.
Operations & Product Range
The business model of Eldeco Infrastructure and Properties Ltd. encompasses the entire real estate development lifecycle, beginning with land acquisition, followed by project development, and culminating in the sale of completed units. The company’s portfolio includes luxury residential high-rise developments, villas, office spaces, and retail malls designed to cater to modern urban lifestyles. In addition, it manages infrastructure within integrated townships developed by the company.
Facilities & Capacity
Eldeco Infrastructure and Properties Ltd. has 19 ongoing projects representing approximately 7.24 million square feet of developable area. As disclosed in the DRHP, the company also has 18 upcoming projects in the pipeline, expected to add around 7.37 million square feet to its portfolio. Its primary regional focus remains the Delhi-NCR region, including Noida, Gurgaon, and Sonipat, along with a presence in key cities of Uttar Pradesh and Punjab such as Lucknow, Kanpur, and Ludhiana.
Brands & Market Presence
The company operates under the brand name “Eldeco,” which is well recognized in the North Indian real estate market and associated with developments such as “Live by the Greens.” It targets demand for organized and branded housing across Tier-1 and Tier-2 cities and has built a broad customer base supported by industry recognition and awards.
Revenue Streams & Business Model
Eldeco Infrastructure and Properties Ltd. primarily generates revenue from the sale of residential and commercial units. In FY25, the company reported revenue from operations of approximately ₹695 crore and a profit of around ₹114 crore. The business follows a milestone-based payment structure, enabling steady cash inflows that are reinvested into construction activities and future land acquisitions.
Management & Shareholding
The company is promoted by Pankaj Bajaj and Bandana Kohli, who have played key roles in driving the group’s growth strategy. Prior to the IPO, the promoter group holds a majority stake in the company. The management team includes CEO Manish Jaiswal and CFO Rajiv Khurana, supported by independent directors who provide strategic oversight.
Board & Key Management
The board and key management personnel of Eldeco Infrastructure and Properties Ltd. include Pankaj Bajaj (Managing Director), Manish Jaiswal (CEO), Rajiv Khurana (CFO), and Swati Gupta (Company Secretary). The Board of Directors also comprises Ruchi Sachdeva, Ranjit Khattar, and Geeta Dutta Goel, offering a balanced mix of executive leadership and independent oversight to guide large-scale development initiatives.
Eldeco Infrastructure & Properties IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 5 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to ₹ 1,000.00 Cr (₹10,000 million) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Up to ₹ 800.00 Cr (₹8,000 million) |
| Offer for Sale | Up to ₹ 200.00 Cr (₹2,000 million) |
| Net Offered to Public | - |
| Issue Type | 100 % Book Building Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 6,49,51,062 Equity Shares |
| Share Holding Post Issue | - |
Eldeco Infrastructure & Properties IPO Financial Information
Latest Revenue
765.08
₹ Crore
Profit After Tax
-63.76
₹ Crore
Net Worth
382.12
₹ Crore
Total Borrowing
1,785.25
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 3,755.40 | 765.08 | -63.76 | 382.12 | 415.97 | 1,785.25 | |||
| 31 Mar 2024 | 2,557.90 | 278.26 | 10.11 | 449.43 | 483.28 | 991.88 | |||
| 31 Mar 2023 | 2,009.45 | 305.66 | -20.63 | 443.09 | 476.94 | 796.76 | |||
| Amount in ₹ Crore | |||||||||
Eldeco Infrastructure & Properties Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | - |
| ROCE | 3.93% |
| Debt/Equity | 4.05x |
| RoNW | -16.69% |
| PAT Margin | -9.17% |
| EBITDA Margin | 16.44% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | -9.82 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The company has outlined the following objects for the fresh issue component of the Eldeco Infrastructure and Properties IPO:
- • Repayment or prepayment of certain borrowings.
- • Investment in a wholly owned subsidiary to support expansion plans.
- • General corporate purposes, including funding ongoing operational requirements.
Conclusion
The Eldeco Infrastructure and Properties IPO presents an opportunity for investors to participate in a growing real estate developer with a project pipeline of nearly 15 million square feet and a strategic focus on the Delhi-NCR and Uttar Pradesh markets. The company seeks to capitalize on increasing demand for organized housing while maintaining financial discipline and scalability. Through the proposed utilization of IPO proceeds, it aims to strengthen its balance sheet and support long-term expansion as a listed entity.
Frequently Asked Questions
Recommended Advisory Services
Ready to take your company public? Explore our specialized IPO advisory services tailored for Indian enterprises.
The India IPO Publication is managed by an editorial team that includes highly experienced finance journalists, market researchers and professionals from the capital markets industry who strive to create high-quality content based on credible sources. Our editors write about IPOs, capital markets, corporate news, capital-raising strategies, regulations and other business matters to ensure our audience stays updated with the latest information. We conduct detailed research and fact-check all information before publishing any content to ensure credibility.
Competitive Strengths
Established a 20-year presence in North India with strong brand recall in key markets such as Delhi-NCR and Lucknow.
Total developable area of close to 15 million square feet in 37 ongoing and upcoming projects.
Presence in various segments of the real estate industry, such as residential townships, luxury towers and commercial spaces.
Foray into Tier-1 and Tier-2 cities in North India that are growing at a rapid pace.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 30/01/2026 | - |
| 2 | Filed with SEBI/Exchange | 30/09/2025 | View DRHP |
Eldeco Infrastructure & Properties IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 0 | 1400015000 |
| Individual investors (Retail) (Max) | 0 | 0 | 200000 |
| S-HNI (Min) | 0 | 0 | 200000 |
| S-HNI (Max) | 0 | 0 | 1000000 |
| B-HNI (Min) | 0 | 0 | 1000000 |