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Here are the important dates you need to know in order to participate in this IPO
Offer Start Date
5th Mar
Offer End Date
9th Mar
Allotment Date
10th Mar
Refund Initiation
11th Mar
Demat Transfer
11th Mar
Listing Date
12th Mar
Elfin Agro India Limited operates in the agro-processing segment with a focus on the manufacturing of wheat-based products and edible oils. Its product portfolio includes chakki atta, refined wheat flour, tandoori atta, sooji, maida, and yellow mustard oil. The company markets its flour products under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG,” supplying wholesalers and retailers across several states such as Rajasthan, Uttar Pradesh, and Gujarat. In addition to flour processing, the company undertakes mustard oil extraction and filtration using raw mustard seeds, with finished products distributed under the “Shiv Nandi” brand.
Alongside manufacturing, the company also participates in the trading of selected agro-commodities, including chana, maize, edible oils, wheat, cattle feed, and groundnut oil, depending on prevailing market conditions. Its operations are supported by two manufacturing facilities located in Bhilwara, Rajasthan. The distribution network extends across multiple regions, covering eight states and two Union Territories, reflecting a geographically diversified customer base within the domestic market.
| Pre-Issue | Post-Issue | |
|---|---|---|
| Promoter Group | 100% | 72.59% |
| Public Group | 0% | 27.41% |
| QIB Shares Offered | 0 (0%) |
| NII (HNI) Shares Offered | 25,20,000 (47.32%) |
| Retail Shares Offered | 25,38,000 (47.66%) |
| Anchor Investor Shares Offered | 0 (0%) |
| Total Shares Offered | 53,25,000 |
| Total Shares With Anchor Investor | 53,25,000 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 6,000 | ₹2,82,000 |
| Retail (Max) | 2 | 6,000 | ₹2,82,000 |
| S HNI (Min) | 3 | 9,000 | ₹4,23,000 |
| S HNI (Max) | 7 | 21,000 | ₹9,87,000 |
| B HNI (MIN) | 8 | 24,000 | ₹11,28,000 |
| Cameo Corporate Services Ltd | |
|---|---|
| Phone Number | +91-44-40020700 / 28460390 |
| Email Id | ipo@cameoindia.com |
| Website | www.cameoindia.com |
1. Finshore Management Services Limited
| March 31, 2025 | March 31, 2024 | March 31, 2023 | |
|---|---|---|---|
| Net Worth | ₹13.78 Cr | ₹8.7 Cr | ₹5.02 Cr |
| Reserves and Surplus | ₹6.73 Cr | ₹7.29 Cr | ₹3.61 Cr |
| Total Borrowing | ₹12.19 Cr | ₹7.6 Cr | ₹7.23 Cr |
| Category | No. of shares offered | No. of shares bid | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 0 | 0 | 0 |
| Non Institutional Investors (NIIs) | 27,87,000 | 48,33,000 | 1.7341 |
| Retail Individual Investors (RIIs) | 25,38,000 | 6,24,000 | 0.2459 |
| Total | 53,25,000 | 54,57,000 | 1.0248 |
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The company operates in staple food categories such as wheat flour and edible mustard oil, which are part of everyday consumption, supporting steady demand across its operating regions.
Its product mix includes multiple flour variants and edible oil, enabling participation across different segments within the agro-processing space.
Presence across several states and union territories indicates a geographically diversified customer base and distribution reach.
Manufacturing facilities located in Rajasthan provide an integrated setup for processing and supply operations.
The business also undertakes trading of agro-commodities, which complements manufacturing activities and adds operational flexibility.
Financial indicators reflect expansion in assets, income, and net worth during the recent period, supported by operational scale-up.
The business is exposed to fluctuations in agricultural raw-material availability, which may influence production planning and procurement costs.
Commodity price movements in wheat, mustard seeds, and other traded products may affect operating margins.
Dependence on regional manufacturing units may create exposure to operational disruptions, including maintenance or local regulatory changes.
Distribution across multiple regions involves logistics and supply-chain risks that could affect timely product delivery.
Borrowings used for working capital or operational needs may influence financial obligations in changing interest-rate environments.
The trading segment is linked to prevailing market conditions, which may lead to variability in revenue contribution over time.
The company operates within India’s agriculture and food-processing ecosystem, which forms a significant part of the domestic food market and supports a large share of livelihoods.
Demand for processed staples such as flour and edible oils is influenced by urbanisation, changing consumption patterns, and the growth of nuclear households seeking convenience foods.
Public procurement activity, including wheat purchases and stable grain reserves, indicates continued supply availability for processing-based businesses.
Investment in agricultural infrastructure, such as irrigation, storage, and cold-chain facilities, is expected to shape sector development and operational efficiency over time.
Improvements in crop varieties and productivity initiatives may influence raw-material availability and cost dynamics within the value chain.
The broader sector environment remains linked to agricultural output cycles, commodity price movements, and policy-driven procurement mechanisms.
IInterested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Elfin Agro India IPO.
Elfin Agro India Ltd IPO is a SME IPO of 53,25,000 equity shares of a face value of ₹5 aggregating up to ₹25.03 Crores. The issue is priced at ₹47 to ₹47 per share. The minimum order quantity is 3000 Shares. The IPO opens on March 05, 2026, and closes on March 09, 2026. Cameo Corporate Services Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE-SME.
The Elfin Agro India Ltd IPO opens on March 05, 2026 and closes on March 09, 2026.
Elfin Agro India Ltd lot size is 3000 shares, and the minimum amount required is ₹2,82,000.
You can apply in Elfin Agro India Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:
The finalization of Basis of Allotment for Elfin Agro India Ltd IPO will be done on March 10, 2026, and the allotted shares will be credited to your demat account by March 11, 2026.
The Elfin Agro India Ltd listing date is March 12, 2026.
The registrar of Elfin Agro India Ltd IPO is Cameo Corporate Services Ltd
Finshore Management Services Limited will be the book-running lead manager of this IPO.
The fresh issue size is ₹25.03 Crores equity shares.
Retail investors can subscribe to a minimum of one lot, 3000 shares and ₹2,82,000 amount.
To apply for Elfin Agro India Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.
The price of each Elfin Agro India Ltd share will be ranging in between ₹47 to ₹47 per share.
The cut-off time for the UPI mandate confirmation is 5:00 PM, March 09, 2026.
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