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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Fixed Price Issue |
| Total Issue Size | ₹25.03 Cr |
| Reserved for Market Maker | ₹1.25 Cr |
| Net Issue Size | ₹25.03 Cr |
| Fresh Issue | ₹23.77 Cr |
| Face Value | ₹5 Per Equity Share |
| Issue Price | ₹47.00 per share |
| BSE Code | 544724 |
| Registrar | Cameo Corporate Services Ltd. |
| Lead Managers | Finshore Management Services Ltd. |
| Allotment Status | |
| DRHP |
| Final Prospectus |
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Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 6,000 shares · Multiples of 3,000 shares
Elfin Agro India Limited operates in the agro-processing sector, with a primary focus on manufacturing and marketing a variety of wheat-based food products and edible oils.
The company produces Chakki Atta (high-fibre whole wheat flour), Refined Wheat Flour (R Atta), Tandoori Atta, Sooji (semolina), Maida (refined flour), and yellow mustard oil. Its processed wheat flour products are marketed under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG,” reaching wholesalers and retailers across states such as Rajasthan, Uttar Pradesh, and Gujarat.
In addition to flour manufacturing, the company is involved in the extraction, filtration, and production of edible mustard oil using raw mustard seeds as the primary input. The mustard oil is sold under the “Shiv Nandi” brand name.
Elfin Agro India Limited also undertakes trading activities in selected agro-commodities depending on market conditions. These include chana, maize, soybean refined oil, rice bran refined oil, wheat, cattle feed, and groundnut oil.
The company serves customers across eight states—Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand—as well as the Union Territories of Chandigarh and Delhi.
Competitive strengths
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 19.33 |
| 2 | General Corporate Expenses | 3.50 |
| 3 | Issue Expenses | 2.20 |
| Total | 25.03 |
| 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 | ||||
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 22.42% | 36.86% |
| ROCE | 34% | 47.93% |
| Debt / Equity | 0.71% | 0.88% |
| RoNW | 22.42% | 36.86% |
| PAT Margin | 3.39% | 3.48% |
| EBITDA Margin | 5.69% | 5.17% |
| Price to Book Value | 3.73 | 4.81 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 3.60 | 2.73 |
| P/E (x) | 13.05 | 17.2 |
| Promoter Holding | 100% | 72.59% |
| Market Cap | ₹91.30 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees (including Underwriting commission) | 0.70 |
| 2 | Registrar to the issue | 0.02 |
| 3 | Legal Advisor | 0.01 |
| 4 | Peer Review Auditors | 0.02 |
| 5 | Market Maker | 0.04 |
| 6 | Sponsor Bank and Bankers to the Issue | 0.01 |
| 7 | UPI Bidding charges, Printing and distribution of Issue Stationary | 0.09 |
| 8 | Regulators Including Stock Exchanges | 0.18 |
| 9 | Advertising & Marketing Expenses | 1.14 |
| Total | 2.20 |
Last Updated on 14-Apr-2026 11:17:08
