Eldorado Agritech, known for its brand Srikar Seeds, has filed preliminary papers with markets regulator Securities and Exchange Board of India (SEBI), seeking approval to mobilise Rs 1,000 crore through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares worth Rs 340 crore and an offer for sale (OFS) of shares valued at Rs 660 crore by promoters.

The company plans to utilise Rs 245 crore from the fresh issuance for payment of debt and general corporate purposes. To assist the public offering, Anand Rathi Advisors and Equirus Capital have been appointed as lead managers. 

Eldorado Agritech 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).