Elfin Agro India Limited
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The Initial Public Offering of Elfin Agro India Limited's culminated in its successful listing on Mar 12, 2026 at the BSE trading platform. The company secured 53,25,000 Shares through this capital market exercise, with 53,25,000 Shares allocated to new capital formation.
Investors participated within the price parameters of ₹47 to ₹47, with minimum investment requirements of 3000 shares. The subscription period from Mar 05, 2026 to Mar 09, 2026 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on Mar 10, 2026. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Founded as an agro-processing company, Elfin Agro India Limited is engaged in the manufacturing and sale of wheat-based flour products and edible mustard oil, along with selective trading of agro commodities based on market conditions. Its product portfolio includes Chakki Atta, R Atta, Tandoori Atta, Sooji, Maida, and Yellow Mustard Oil, with wheat flour products marketed under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG,” and mustard oil sold under the “Shiv Nandi” brand. In addition to manufacturing, the company trades products such as chana, maize, soybean refined oil, rice bran refined oil, wheat, cattle feed, and groundnut oil. Elfin Agro operates two manufacturing units in Bhilwara, Rajasthan, and has built a distribution network across eight states—Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand—along with two Union Territories, Chandigarh and Delhi.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Strategic Location Advantage: Processing units in Bhilwara provide access to developed infrastructure, cost-effective skilled and unskilled labour, and proximity to key wheat- and mustard-growing regions, ensuring steady raw material availability and logistical efficiency.
- High Installed Capacity & Operational Efficiency: With an installed capacity of 47,450 MTPA for wheat and 18,250 MTPA for mustard seeds, the Company is well-positioned to cater to large-scale demand. A strong focus on cost optimization and timely order execution enhances overall efficiency.
- Strong Customer Relationships: Long-standing associations with customers drive repeat business, strengthen retention, and support sustainable growth through an expanding client base.
- Raw Material Supply & Price Risk: The Company’s operations rely on consistent availability and stable pricing of wheat, mustard seeds, and packaging materials. Supply disruptions, seasonal volatility, price fluctuations, or changes in government procurement and stocking policies could increase input costs and adversely impact margins and profitability.
- Product Concentration Risk: A substantial portion of revenue is generated from a limited product portfolio. Failure to respond to evolving consumer preferences, regulatory changes, or shifting industry trends may lead to reduced demand and affect overall financial performance.
- Geographical Concentration Risk: With manufacturing operations primarily concentrated in Rajasthan, the Company is exposed to region-specific risks such as economic slowdowns, social or political disturbances, natural calamities, and adverse climatic conditions that may disrupt operations and revenue stability.
- 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
Elfin Agro India Limited
Cameo Corporate Services Limited