Elfin Agro India IPO Details

SME BSE

Elfin Agro India IPO Summary

Elfin Agro India IPO opens for subscription on 05 Mar 2026 and closes on 09 Mar 2026.The IPO will be listed on BSE with the tentative listing date set for 12 Mar 2026.

Elfin Agro India IPO price band has been fixed at ₹47 – ₹47 per share. The face value is ₹5 per share with a lot size of 3000.

Elfin Agro India IPO total issue size comprises 53,25,000 shares (aggregating up to ₹25.03 Cr). This includes a fresh issue of 53,25,000 shares (aggregating up to ₹25.03 Cr). Pre-issue shareholding stands at 1,41,00,000, which will increase to 1,94,25,000 post-issue.

Elfin Agro India IPO carries a ₹0 (0%) GMP, reflecting investor sentiment.

Elfin Agro India IPO Lot Size :Individual Minimum is 2 lots (6,000 shares) amounting to ₹282,000. Individual Maximum is 2 lots (6,000 shares) amounting to ₹282,000. HNI Minimum is 3 lots (9,000 shares) amounting to ₹423,000.

The Lead Managers for Elfin Agro India IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Finshore Management Services Ltd . To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.

For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Shilpa Stock Broker. You can analyze their track record by checking the Market Maker Performance Summary report.

For detailed information, Refer to the Elfin Agro India Limited RHP.

Elfin Agro India IPO Details

Listing Price : ₹47.3 at a Premium of 0.64%

Open Date

05 Mar 2026

Close Date

09 Mar 2026

Listing Date

12 Mar 2026

Issue Price

₹47 - ₹47

Face Value

₹5 per share

Lot Size

3000 Shares

GMP

₹0

Issue Type

IPO

Listing On

BSE

Type

Fixed Price Issue

Pre-issue Shareholding

1,41,00,000 shares

Post-issue Shareholding

1,94,25,000 shares

Total Issue Size

53,25,000 shares(aggregating up to ₹25.03 Cr)

Fresh Issue

53,25,000 shares(aggregating up to ₹25.03 Cr)

Offer for Sale

Elfin Agro India IPO Subscription

Elfin Agro India IPO Application Wise Breakup

Elfin Agro India IPO Dates

05 Mar 2026
Opening dateOpen
09 Mar 2026
Closing dateClose
10 Mar 2026
Allotment Date Allotment
11 Mar 2026
Initiation of RefundsRefund
11 Mar 2026
Credit of SharesCredit
12 Mar 2026
Listing dateListing

Elfin Agro India IPO Lot Size

Application	Lots	Shares	Amount
Individual Minimum	2	6000	₹282,000
Individual Maximum	2	6000	₹282,000
HNI Minimum	3	9000	₹423,000

Elfin Agro India IPO Reservation

Promoter Holding

Pre Issue:

100%

Post Issue:

72.59%

Promoter Names:

Mr. Vimal Kumar Daga, Mr. Deepak Pal Daga, Mrs. Seema Daga, Mrs. Neetu Daga, M/s. Vimal Kumar Ayush Pal Daga HUF, M/s. Vimal Kumar Deepak Pal Daga HUF, M/s. Deepak Pal Harsh Kumar Daga HUF

Documents

DRHP

Elfin Agro India IPO DRHP

RHP

Elfin Agro India IPO RHP

Basis of Allotment

BOA Document

Elfin Agro India IPO Valuations

ROE22.42%

ROCE34%

Debt/Equity0.71

RoNW22.42%

PAT Margin3.39%

EBITDA Margin5.69%

Price to Book Value3.73

EPSRs (Pre IPO)3.60

EPSRs (Post IPO)2.73

P/E (x) (Pre IPO)13.05

P/E (x) (Post IPO)17.2

Elfin Agro India Financial Information

Period Ended	31 Dec 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	42.39	33.44	24.69	20.90
Total Income	117.72	146.44	124.71	101.45
Profit After Tax	3.98	5.08	3.68	1.81
EBITDA	6.68	7.54	5.82	3.11
NET Worth	17.76	13.78	8.70	5.02
Reserves and Surplus	10.71	6.73	7.29	3.61
Total Borrowing	12.69	12.19	7.60	7.23
Amount in ₹ Crore

About Elfin Agro India IPO

Elfin Agro India Limited is primarily engaged in the manufacturing of wheat-based food products and edible oils. The company produces a range of flour products including Chakki Atta (high-fibre whole wheat flour), R Atta (refined whole wheat flour), Tandoori Atta, Sooji (semolina flour), and Maida (refined flour), along with edible mustard oil.

The company markets its processed wheat flour products under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG”, supplying wholesalers and retailers across multiple states including Rajasthan, Uttar Pradesh, and Gujarat.

In addition to flour products, the company is engaged in the extraction, filtration, and production of edible mustard oil from raw mustard seeds. The mustard oil is sold under the brand “Shiv Nandi”.

Elfin Agro India Limited also undertakes trading of various agro-products based on prevailing market conditions. These include commodities such as chana, maize, soybean refined oil, rice bran refined oil, wheat, cattle feed, and groundnut oil.

The company operates two manufacturing facilities located in Bhilwara, Rajasthan, supporting its production and distribution activities.

Its customer base spans eight states—Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand—and two Union Territories, namely Chandigarh and Delhi.

Strength Of Elfin Agro India IPO

To be announced

Risk Of Elfin Agro India IPO

The company's Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
The company's operations are dependent on the supply of raw materials. Inadequate or interrupted supply and price fluctuation of the company's raw materials and packaging materials could adversely affect its business, results of operations, cash flows, profitability and financial condition. Any change in guidelines by Government of India or any other governmental nodal agencies for procurement or stocking of wheat and mustard seeds can also impact prices of raw materials. Any increase in the cost of, or a shortfall in the availability of, such raw materials could have an adverse effect on the company's business and results of operations, and seasonable variations could also result in fluctuations in the company's results of operations.
The company derives significant portion of the company's revenue from sale of limited variety of the company's products. An inability to adapt to evolving consumer preferences, anticipate regulatory requirements, and industry trends and demand for particular products, or ensure product quality may adversely impact demand for its products and consequently the company's business, results of operations, financial condition and cash flows and competitive position in the agro-processing industry.
The company's revenue contribution from its trading operations is subject to volatile and uncontrollable market conditions, which may materially and adversely affect its profitability, financial condition and results of operations.
The company derives significant portion of the company's revenues from Maida, any reduction in demand or in the production of such product could have an adverse effect on the company's business, results of operations and financial condition.
Substantial portion of the company's revenues has been dependent upon few customers. The loss of any one or more of the company's major customers would have a material effect on the company's business operations and profitability.
The company's business operations are majorly concentrated in certain geographical regions and any adverse developments affecting its operations in these regions could have a significant impact on the company's revenue and results of operations.
The company's dependence on procurement of mustard seeds from the state of Rajasthan exposes the company to risks associated with regional concentration.
The company's business is dependent on the company's Processing Units/Facilities. Any shutdown of operations of the company's Processing Units may have an adverse effect on the company's business, results of operations and financial condition.
The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.

Objectives Elfin Agro India IPO

1. Working Capital Requirements

2. General Corporate Expenses

Company Contact Details

Elfin Agro India Ltd
F - 250-251-252-253,
RIICO, Growth Centre, Swaroopganj,
Hamirgarh,
Bhilwara, Rajasthan, 311025
Phone: +91 7976780728
Email: cs@elfinagroindia.com
Website: http://www.elfinagroindia.com/

Registrar Contact Details

Name:

Cameo Corporate Services Ltd

Phone:

+91-44-28460390

Email:

ipo@cameoindia.com

Website:

https://ipostatus1.cameoindia.com/

Lead Mangers

Market Maker

Elfin Agro India FAQs

The Elfin Agro India IPO is a SME public issue comprising 5325000 equity shares with a face value of ₹5 each, aggregating to a total issue size of ₹25.03 Cr. The issue price has been fixed at ₹47 per equity share, and the minimum application size is 3000 shares.

The IPO opens for subscription on 05 Mar 2026, and closes on 09 Mar 2026.

Cameo Corporate Services Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the BSE

The Elfin Agro India IPO opens on 05 Mar 2026.

Elfin Agro India IPO lot size is 3000, and the minimum amount required for application is ₹141000.

You may apply for the Elfin Agro India IPO online by using either the UPI or ASBA payment method. The ASBA facility is available through the net banking platform of your respective bank. The UPI-based IPO application option is typically provided by brokers that do not offer banking services. For detailed guidance on the online IPO application process, please refer to the procedures outlined by Zerodha, Groww, Upstox, 5Paisa, Paytm Money, Fyers, Alice Blue, Nuvama, HDFC Bank, ICICI Direct, Kotak Securities, Axis Direct, and SBI Bank.

The Basis of Allotment for the Elfin Agro India IPO is scheduled to be finalized on 10 Mar 2026. Subsequently, the shares allotted will be credited to investors’ demat accounts by 11 Mar 2026. Investors are advised to regularly check the Elfin Agro India IPO allotment status for updates.

The listing date for the Elfin Agro India IPO has not yet been officially announced. However, the tentative listing date is scheduled for 12 Mar 2026.

Elfin Agro India IPO Grey Market Premium (GMP) refers to the unofficial price at which the company’s IPO shares are traded in the grey market prior to their listing on the stock exchange. The GMP serves as an indicator of investor demand, expected listing gains, and the overall market sentiment toward the IPO.

As of now, the current GMP stands at ₹0 (0%).