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Eldorado Agritech Limited files DRHP with SEBI for Rs. 1000 crore IPO, combining fresh issue and OFS.
Upcoming IPO
Upcoming IPO: Eldorado Agritech Limited, a seed to harvest solutions provider known for its brand Srikar Seeds, has filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise Rs. 1000 crore through an initial public offering (IPO).
According to the DRHP, the proposed IPO of the Telangana-based company is a combination of a fresh issue of equity shares aggregating up to Rs. 340 crore and an offer for sale (OFS) of shares aggregating up to Rs. 660 crore by the selling shareholders.
As part of the OFS, promoters Srinivasa Rao Linga and Usha Rani Papineni will offload shares worth Rs. 500 crore and Rs. 160 crore, respectively.
Eldorado Agritech proposes to utilize Rs. 245 crore from the Net Proceeds of the Fresh Issue towards Prepayment or repayment of a portion of certain outstanding borrowings, and the remaining amount for general corporate purposes.
The company provides customers with comprehensive ‘seed to harvest’ solutions, spanning from seed innovation to crop care products, and is engaged in research & development (R&D), production, processing, marketing and distribution of seeds comprising a wide range of hybrids and open pollinated varieties (OPV). As per the F&S Report, it is the fastest growing agro-sciences company within its listed peer set in India in terms of revenue growth, registering a CAGR of 27.92% between Fiscals 2023 and 2025, with focus on providing high quality seeds and crop care products.
The company offers seeds across key crops such as maize, paddy (rice), cotton, wheat, bajra (pearl millet) and a broad portfolio of vegetable seeds, with a product portfolio of 226 hybrids and OPV seeds for 47 crops.
As of June 30, 2025, Eldorado Agritech has obtained 269 registrations for its agrochemical formulations from the Central Insecticides Board & Registration Committee (CIBRC) and has applied for nine product patents for agrochemical products under the Indian Patents Act, 1970. Further, it has 43 registrations for speciality fertilizer products under the Fertilizer (Control) Order (FCO), 1985, and 32 registrations for its bio-stimulant products from the Ministry of Agriculture and Farmers’ Welfare
On the financial front, the company reported a revenue from operations of Rs. 441 crore with profit after tax (PAT) of Rs. 71 crore in FY25.
Anand Rathi Advisors Limited and Equirus Capital Private Limited are the book running lead managers (BRLMs) to the offer.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
September 05, 2025, 14:17 IST
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