Eldorado Agritech's Ambitious IPO: A Seeding Success
Eldorado Agritech Ltd, under the brand Srikar Seeds, is gearing up for a Rs 1,000 crore IPO. The offer includes a fresh equity issue and a sale by promoters. Key funds will address debt and expand operations. The company, which has substantial agrochemical credentials, reported significant revenue and profits in FY25.
- Country:
- India
Eldorado Agritech Ltd is making waves with its planned Rs 1,000 crore initial public offering (IPO). This development was confirmed in a recent filing with the Securities and Exchange Board of India (SEBI). The IPO will comprise both a fresh issue of shares worth Rs 340 crore and an offer for sale of shares amounting to Rs 660 crore.
The offer for sale will involve the promoters, pivotal figures in the company, Srinivasa Rao Linga and Usha Rani Papineni, offloading shares worth Rs 500 crore and Rs 160 crore respectively. This strategic move is part of the seed-to-harvest solutions provider's broader aim to leverage capital for debt repayment and corporate growth.
A recognized player in the agro-industry, Eldorado Agritech Ltd delivers a wide array of seed solutions and holds numerous registrations for its agrochemical products. The company's impressive financial performance, marked by a revenue of Rs 441 crore and a profit after tax of Rs 71 crore for FY25, emphasizes its potential as a strong market contender. Leading the IPO initiative are Anand Rathi Advisors and Equirus Capital.
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