Eldeco Infrastructure eyes Rs 1,000 cr

New Delhi: Real estate developer Eldeco Infrastructure and Properties Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial public offer-ing (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, according to the draft red herring prospectus (DRHP) dated September 30.

The promoters, Pankaj Bajaj and Bandana Kohli, are offering equity shares aggregating up to Rs 102 crore and Rs 98 crore, respectively.

The Haryana-based company may consider a pre-IPO placement for up to Rs 160 crore. If such placement is completed, the fresh issue size will be reduced.

Proceeds from the fresh issue worth Rs 600 crore will be used for repayment or prepayment of certain outstanding borrowings availed by Eldeco Infracon Real-tors Ltd, a subsidiary of the company.