The Elfin Agro IPO company with a fixed price of Rs. 47 per share, is starting its public offering with the goal of raising Rs. 25.03 crore from investors.
Operating in the agro-processing space, Elfin Agro produces staple food products that are widely used in everyday households.
With the subscription window now open, market participants are taking a closer look at the Elfin Agro IPO, including its pricing, structure, and expected listing timeline.
Elfin Agro IPO Details
The IPO schedule outlines the following timeline:
IPO Opening Date: March 5, 2026
IPO Closing Date: March 9, 2026
Allotment Finalisation: Expected on March 10, 2026
Tentative Listing Date: March 12, 2026
The IPO is being managed by Finshore Management Services Ltd, which is serving as the book-running lead manager.
The registrar responsible for processing IPO applications and allotments is Cameo Corporate Services Ltd.
Meanwhile, Shilpa Stock Broker Pvt. Ltd. has been appointed as the market maker, helping maintain liquidity in the stock once it begins trading in the SME segment.
Elfin Agro IPO Structure
The Elfin Agro IPO is structured as a Rs. 25.03 crore fixed-price issue.
The Elfin Agro IPO is being offered using the fixed-price process, which means that the business has already determined it, rather than deciding on the issue price later through the book-building process.
For all investor groups, the corporation has fixed the issue price at Rs. 47 per share.
The minimum application size has been set at 3,000 shares per lot. Retail investors must apply for at least two lots, meaning a total of 6,000 shares. At the issue price, this results in a minimum retail investment of about Rs. 282,000.
For high-net-worth individuals (HNIs), the minimum application size has been set at three lots, or 9,000 shares, which works out to an investment of about ₹4,23,000 at the issue price.
The Elfin Agro IPO is entirely a fresh issue, which means the funds raised will go directly to the company. There is no offer for sale (OFS) in the issue, so existing shareholders are not selling their stakes.
About Elfin Agro India Overview
Elfin Agro India Limited operates in the agro-processing industry, focusing on the production of wheat-based food products along with edible mustard oil.
The company manufactures and markets several staple food items commonly used in Indian households, including:
Chakki Atta
R Atta
Tandoori Atta
Sooji
Maida
Yellow Mustard Oil
These products are sold under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG".
The company distributes its products through a network of wholesalers and retailers across Rajasthan, Uttar Pradesh, and Gujarat. This distribution network allows the firm to serve consumers across both urban and semi-urban markets.
Elfin Agro India Financials Overview
Particulars ( Rs. in cr.) | FY23 | FY24 | FY25 |
Revenue | 100 | 123 | 145 |
Operating Profit | 3 | 6 | 8 |
Net Profit | 2 | 4 | 5 |
Operating Margin | 3% | 5% | 5% |
Earnings Per Share | 12.84 | 26.1 | 3.6 |
The Elfin Agro India, with a market cap of around Rs.91.3 crore, the company falls into the SME category.
The Elfin Agro company’s revenue has increased from Rs.100 crore in FY23 to Rs. 145 crore, nearly had a growth of 45%. This indicates continued demand for the company’s products.
Operating profit increased from Rs.3 crore in FY23 to Rs.8 crore in FY25. This signifies that while expanding business operations company is possible able to mange its operating costs.
Net profit moved upside from Rs.2 crore in FY23 to Rs.5 crore in FY25.
Operating margin improved from 3% in FY23 to 5% in FY25. This shows that the company has been able to maintain stable profitability while growing its sales
EPS increased from Rs. 12.84 in FY23 to Rs. 26.1 in FY24, while it stood at Rs. 3.6 in FY25 based on the latest financial figures.
The average 3-year ROE of about 45.7%, which indicates that it has possibly been able to generate strong returns from the capital invested by shareholders.
Overall, Elfin Agro India's business model is based on its operations in wheat processing, mustard oil production, and agro-product distribution. The company is positioned within the regional food processing industry owing to its presence in several states and its established distribution network.
Just like with any SME IPO, before making an investment decision, investors may think about examining the company's fundamentals, industry forecasts, and potential dangers.
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