elfinagroindia Limited
Minimum investment
Bidding date
05 Mar - 09 Mar 2026
Price range
₹47 - ₹47
Minimum quantity
3,000
Minimum investment
₹1,41,000
Issue size
₹25 Cr.
IPO doc (link)
RHP docsListing exchange
NSE/BSE
Elfin Agro India Limited is engaged in the manufacturing and trading of agro-based food products. The company primarily produces wheat flour products such as Chakki Atta, R Atta, Tandoori Atta, Sooji (Semolina), and Maida, along with edible mustard oil. Its products are sold under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam Bhog.” The company distributes its products through wholesalers and retailers across multiple states including Rajasthan, Uttar Pradesh, Gujarat, Maharashtra, Punjab, Haryana, Madhya Pradesh, and Uttarakhand, along with union territories such as Delhi and Chandigarh. Apart from manufacturing flour products, Elfin Agro India is also involved in the extraction and processing of edible mustard oil from raw mustard seeds. Additionally, the company trades in agricultural commodities such as Chana, Maize, Wheat, Soyabean Refined Oil, Rice Bran Refined Oil, cattle feed, and groundnut oil, depending on market demand. Elfin Agro India operates two manufacturing facilities located in Bhilwara, Rajasthan, which help the company maintain efficient production and supply across its distribution network. The Elfin Agro India IPO is a fixed price issue worth Rs. 25.03 crore, consisting entirely of a fresh issue of 53,25,000 shares. The IPO will open on March 5, 2026, and close on March 9, 2026, with listing proposed on the BSE SME platform.
Strategic Manufacturing Location: The company’s processing units in Bhilwara, Rajasthan allow efficient sourcing of raw materials and supply to nearby markets.
Wide Product Portfolio: Elfin Agro India manufactures multiple wheat-based products and edible oil, reducing reliance on a single product category.
Established Distribution Channels: The company supplies products through wholesalers and retailers across several Indian states.
Existing Client Relationships: Long-term relationships with distributors and clients support consistent demand for its products.
Cost-Effective Production: Installed production capacity and operational efficiency allow the company to maintain competitive pricing.
Low Margin Industry: The agro processing and flour milling business operates on high volume but low profit margins, which can affect profitability.
Commodity Price Fluctuation: Prices of raw materials such as wheat and mustard seeds may fluctuate, impacting production costs.
Regional Business Concentration: A large portion of the company’s operations and manufacturing facilities are concentrated in Rajasthan.
SME Platform Listing: The IPO is proposed to list on the BSE SME platform, which generally has lower liquidity compared to mainboard stocks.
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