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InvestmentsIPOElfin Agro IPO

Elfin Agro IPO

SME

Open Date

5 Mar 2026

Close Date

9 Mar 2026

Min Investment

₹ 2,82,000

Lot Size

3,000

Issue Size

₹ 25.03 Cr

Price Range

₹ 47 - ₹ 47

Subscribed

1.39 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
5 Mar 2026
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IPO Offer Ends
9 Mar 2026
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Allotment Finalisation
10 Mar 2026
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Refund Initialisation
11 Mar 2026
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Non-Institutional Buyers (sHNI)
11 Mar 2026
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Listing of Shares
12 Mar 2026
IPO Subscription Details as on 17 Apr 2026, 08:50 AM
Retail
0.57 x
Total
1.39 x
Non-Institutional Buyer (bHNI)
2.08 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Elfin Agro India Limited is a food processing company primarily engaged in manufacturing Chakki Atta, R Atta, Tandoori Atta, Sooji, Maida, and yellow mustard oil. The company operates two manufacturing units in Bhilwara, Rajasthan - a Flour Processing Unit and a Mustard oil Processing Unit. The company sells processed wheat flour under brands 'Shiv Nandi' and 'ELFIN'S Shri Shyam BHOG' to wholesalers and retailers across multiple states including Rajasthan, Uttar Pradesh, Gujarat, etc., and also engages in trading of various agro-products.
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Founded In

2009

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CEO

Deepak Pal Daga

Financials of Elfin Agro India IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue101.39124.46145.86
Other Income0.060.250.58
Total Income
101.45124.71146.44
Total Expenses
98.26118.63138.31
Profit Before Tax2.594.966.79
Total Profit
1.813.685.08

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to utilize the funds to meet incremental working capital requirements for procuring raw materials, managing work in progress, finished goods, advances to suppliers, and sundry debtors. The funds will help improve capacity utilization across processing units and support smoother operating cycles.19
The company proposes to deploy funds for strategic initiatives, partnerships, joint ventures and acquisitions, brand building and promotional activities, enhancing infrastructure and facilities, meeting exigencies and contingencies, and other purposes as approved by the Board.4
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  • Location of Processing Units: The company's processing units are situated in Bhilwara, providing access to robust infrastructure and readily available workforce at cost-effective rates. Strategic location near agricultural land minimizes procurement delays and provides competitive cost advantage.
  • Installed Capacity, Cost Effective Production and Timely Fulfillment of Orders: The company has installed capacity of processing wheat up to 47,450 MTPA and mustard seeds up to 18,250 MTPA. In FY 2024-25, the company processed 31,940 tonnes of wheat and 4,170 tonnes of mustard seeds, enabling timely order fulfillment.
  • Widespread Distribution Network and Presence Across Various Retail Channels: The company has invested in establishing processes, teams and technology to manage distribution channels. Revenue distribution includes B2B clients (39.36%), wholesalers (52.21%), retailers (0.88%), traders (4.06%) and individual consumers (3.49%) as of December 31, 2025.
  • Existing Client Relationships: The company maintains long-term working relationships with customers through repeat business and strong client relationships. This generates multiple repeat orders and helps as a competitive advantage in gaining new clients and increasing business.
  • Customization and Flexibility: The company offers customization in product packaging and order fulfillment, providing products in various packaging sizes like Chakki Atta in 26 kg bags, Maida in 43-46 kg bags, and loose mustard oil in tankers as per customer requirements.
  • Leveraging the Experience of Promoters: The company derives substantial benefit from promoters' extensive experience and active involvement. Promoters bring over 15 years of hands-on experience in the agro-processing sector with deep understanding of market dynamics and regulatory environment.

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