Eldorado Agritech files DRHP with Sebi for ₹1,000 crore IPO

Eldorado Agritech Limited, a harvest solutions provider known for its brand Srikar Seeds, has filed a draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise ₹1,000 crore through an initial public offering (IPO).

According to the DRHP, the proposed IPO of the Telangana-based company comprises a fresh issue of equity shares aggregating up to ₹340 crore and an offer for sale (OFS) of shares aggregating up to ₹660 crore by the selling shareholders. Under the OFS, promoters Srinivasa Rao Linga and Usha Rani Papineni will offload shares worth ₹500 crore and ₹160 crore, respectively.

Eldorado Agritech plans to use ₹245 crore from the net proceeds of the fresh issue for prepayment or repayment of a portion of certain outstanding borrowings, with the remaining amount earmarked for general corporate purposes.

The company provides customers with comprehensive ‘seed-to-harvest’ solutions, spanning seed innovation to crop care products. It is engaged in research & development (R&D), production, processing, marketing, and distribution of seeds, including a wide range of hybrids and open-pollinated varieties (OPV).

As per the F&S report mention in the IPO document, Eldorado Agritech is the fastest-growing agro-sciences company among its listed peers in India in terms of revenue growth, registering a CAGR of 27.92% between FY23 and FY25, with a focus on 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 total of 226 hybrid and OPV seeds for 47 crops.

As of June 30, 2025, Eldorado Agritech had obtained 269 registrations for its agrochemical formulations from the Central Insecticides Board & Registration Committee (CIBRC) and applied for nine product patents under the Indian Patents Act, 1970. It also holds 43 registrations for specialty 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 revenue from operations of ₹441 crore with a profit after tax (PAT) of ₹71 crore in FY25.

Anand Rathi Advisors Limited and Equirus Capital Private Limited are the book running lead managers (BRLMs) to the offer.

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