Hyderabad: 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 ₹1000 crore through an initial public offering (Eldorado Agritech IPO).
Eldorado Agritech IPO Structure
According to the draft red herring prospectus (DRHP), the Eldorado Agritech IPO will comprise a fresh issue of equity shares aggregating up to ₹340 crore and an offer for sale (OFS) worth ₹660 crore by existing shareholders.
Promoters Srinivasa Rao Linga and Usha Rani Papineni will sell shares valued at ₹500 crore and ₹160 crore, respectively, under the OFS component.
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Utilization of Fresh Issue Proceeds
Out of the fresh issue proceeds, Eldorado Agritech plans to utilize ₹245 crore for prepayment or repayment of certain outstanding borrowings. The balance will be directed towards general corporate purposes.
Business Profile of Eldorado Agritech
Eldorado Agritech operates across the agricultural value chain, offering seed-to-harvest solutions including seed innovation, crop care products, and agro-sciences research. The company’s portfolio spans seed R&D, production, processing, marketing, and distribution.
As per the F&S Report, the company has emerged as the fastest-growing agro-sciences enterprise among its listed peers in India, achieving a CAGR of 27.92% in revenue growth between FY23 and FY25.
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Product Portfolio and Registrations
The company provides seeds across key crops such as maize, rice (paddy), cotton, wheat, pearl millet, and a wide range of vegetables, with a portfolio of 226 hybrids and OPV seeds across 47 crops.
As of June 30, 2025, Eldorado Agritech holds:
- 269 registrations for agrochemical formulations from the Central Insecticides Board & Registration Committee (CIBRC)
- 43 registrations for specialty fertilizers under the Fertilizer (Control) Order, 1985
- 32 registrations for bio-stimulant products from the Ministry of Agriculture and Farmers’ Welfare
- 9 pending patent applications for agrochemical products under the Indian Patents Act, 1970
Financial Performance
For FY25, Eldorado Agritech reported a revenue of ₹441 crore and profit after tax (PAT) of ₹71 crore.
Lead Managers to the Offer
Anand Rathi Advisors Limited and Equirus Capital Private Limited are serving as the book-running lead managers (BRLMs) for the Eldorado Agritech IPO.
