Elfin Agro India IPO Details
The key details of Elfin Agro India’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹25.03 Crores |
| Price Range | ₹47 |
| Retail Quota | 50% |
| QIB Quota | -- |
| NII Quota | 50% |
| Employee Discount | -- |
| Listing at | BSE |
| Minimum Quantity | 6,000 |
| Investment (cut-off price) | ₹2,82,000 |
| Pre IPO Promotor Holding | 100% |
| Post IPO Promotor Holding | 72.59% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Elfin Agro India IPO Timelines
The IPO process for Elfin Agro India includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
05/03/2026
Start Date09/03/2026
End Date11/03/2026
Refund Initiation11/03/2026
Credit of Shares to Demat Ac12/03/2026
Listing DateElfin Agro India IPO Lot Size
The Elfin Agro India IPO has a fixed lot size of 3,000 shares, at a fixed price band of ₹47 per share. For retail investors, the minimum and maximum application is 6,000 shares (2 lots) amounting to ₹2,82,000. For HNI investors, the minimum application is 9,000 shares (3 lots) worth ₹4,23,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 6000 | ₹2,82,000 |
| Retail Maximum | 2 | 6000 | ₹2,82,000 |
| HNI Minimum | 3 | 9000 | ₹4,23,000 |
Elfin Agro India IPO Subscription Status
The subscription status for Elfin Agro India IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Elfin Agro India IPO Company Financials
Elfin Agro India reports robust performance in FY2025 with Total Income of ₹146.44 crores, managing expenses at ₹138.31 crores, and achieving a strong PAT (Profit After Tax) of ₹5.08 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹101.45 | ₹98.26 | ₹1.81 |
| FY 2024 | ₹124.71 | ₹118.63 | ₹3.68 |
| FY 2025 | ₹146.44 | ₹138.31 | ₹5.08 |
| FY 2026 (9 M) | ₹117.72 | ₹110.77 | ₹3.98 |
About Company
Elfin Agro India Limited is engaged in the manufacturing of wheat based products and edible oils. The product portfolio includes Chakki Atta high fibre whole wheat flour, R Atta refined whole wheat flour, Tandoori Atta specialized flour, Sooji semolina flour, Maida refined flour and yellow mustard oil. Processed wheat flour is marketed under the brands Shiv Nandi and ELFIN’S Shri Shyam BHOG across Rajasthan, Uttar Pradesh, Gujarat and other states. Edible mustard oil is produced through extraction and filtration of raw mustard seeds and is sold under the Shiv Nandi brand.
Operations also include trading of agro products such as chana, maize, soyabean refined oil, rice bran refined oil, wheat, cattle feed and groundnut oil based on prevailing market conditions. Two manufacturing units are located in Bhilwara, Rajasthan. The customer base spans eight states including Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh and Uttarakhand, along with the Union Territories of Chandigarh and Delhi.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2009 | Agricultural | Neel Niteshbhai Shah |
Know Before Investing
Elfin Agro India IPO Strengths
- Clientele spans 8 states and 2 UTs creating diversified revenue streams across northern India’s agricultural belt.
- Commodity trading model adapts to market conditions without heavy capex requirements.
- Rising health awareness and domestic demand favor rice bran oil positioning versus imported alternatives.
- Debt/equity 0.88x provides balanced leverage for working capital expansion.
Elfin Agro India IPO Risks
- Chana, maize, soybean oil prices fluctuate with MSP changes, global supply, and weather impacting margins.
- Post-harvest trading peaks create lumpy quarterly performance testing cash conversion.
- Northern India focus exposes to agricultural policy shifts and logistics disruptions.
- Established players and unorganized traders pressure pricing power and customer relationships.
- Bulk commodities generate storage losses and quality degradation during price downturns.
- FSSAI, APEDA, and state agricultural norms demand continuous certifications and inspections.
Swot Analysis for Elfin Agro India IPO
Strengths
Diversified Product Portfolio, Branded FMCG Presence, Mustard Oil Expansion
Weaknesses
Regional Concentration, Working Capital Intensive, Commodity Exposure
Opportunities
Branded Staples Formalisation, Mustard Oil Volume Growth, Value-Added Products
Threats
Wheat Price Volatility, Unorganised Millers, National FMCG Competition
Company Details
Elfin Agro India Ltd.
F – 250-251-252-253, RIICO, Growth Centre, Swaroopganj, Hamirgarh, Bhilwara – 311025, Rajasthan, India
Phone: +91 7976780728
Email: cs@elfinagroindia.com
Website: https://www.elfinagroindia.com/
IPO Registar Details
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
FAQs
The key objectives of Elfin Agro India SME IPO are:
- Working Capital Requirements
- General Corporate Expenses
Finshore Management Services Ltd. is the book-running lead managers for the Elfin Agro India IPO.
Elfin Agro India offers moderate growth potential supported by revenue expansion to ₹145 crore and steady demand for staple flour and edible oil products across multiple states. Improved working capital management and debt reduction can enhance margins, though low profitability and commodity volatility may cap scalability.
The issue price for the Elfin Agro India IPO is set to ₹47 per share.
To invest in two lot of Elfin Agro India IPO, you need ₹2,82,000 at the fixed price band (₹47 per share) for a lot size of 6,000 shares.
Elfin Agro India IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on March 12, 2026.
Refund/unblocking of funds for Elfin Agro India IPO will begin on March 11, 2026. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Elfin Agro India IPO shares on listing day (March 12, 2026) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.