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Elfin Agro India IPO
Price Band
₹
Issue Size
₹25.03 Cr
Lot Size
3,000 shares
Min Investment
₹282,000
2 LOTS MIN
GMP
—
Issue Price
₹47.0
Elfin Agro India IPO AI Summary
- Elfin Agro India IPO is listed on BSE SME in the Other Food Products sector.
- Subscription window: 05 Mar–09 Mar 2026, listing on 12 Mar 2026.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Elfin Agro India IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
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 Strategically located processing facilities Strong installed production capacity with cost-efficient operations and timely order execution Extensive distribution network with presence across multiple retail channels Established and long-standing customer relationships Ability to offer customized solutions with operational flexibility
Company Financials (₹ Cr)
As of 2025-12-31
| 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 |
Key Ratios
EPS
₹3.60
NAV
₹9.77
ROE
36.86%
ROCE
47.93%
RoNW
36.86%
P/B Value
4.81
P/E Ratio
13.05
Market Cap
₹91.30 Cr
PAT Margin
3.48%
Debt/Equity
0.88
Promoters
Vimal Kumar Daga, Deepak Pal Daga, Seema Daga, Neetu Daga, Vimal Kumar Ayush Pal Daga (HUF), Vimal Kumar Deepak Pal Daga (HUF) and Deepak Pal Harsh Kumar Daga (HUF)
Objects of the Issue
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
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹101.45 Cr in the year ending 31 Mar 2023, increasing to ₹124.71 Cr by 31 Mar 2024. However, it then rose to ₹146.44 Cr by 31 Mar 2025 before declining to ₹117.72 Cr in the period ending 31 Dec 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹1.81 Cr in the year ending 31 Mar 2023, rising to ₹3.68 Cr by 31 Mar 2024. This further increased to ₹5.08 Cr by 31 Mar 2025, but then decreased to ₹3.98 Cr in the period ending 31 Dec 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO in the stock market. It reflects the demand and supply dynamics of the shares before they are officially listed. A higher GMP suggests strong demand, while a lower GMP indicates weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainty in the early stages.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 5 March 2026 and closes on 9 March 2026. Allotment of shares will be done on 10 March 2026, with the listing date set for 12 March 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make by selling shares on the listing day at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock on the listing day.
This evaluation is generated from Elfin Agro India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
When does Elfin Agro India IPO open and close?
Elfin Agro India IPO opens on 05 March 2026 and closes on 09 March 2026.
When does Elfin Agro India IPO list on the stock exchange?
Elfin Agro India IPO listed on 12 March 2026 at ₹47.0.
What is the lot size for Elfin Agro India IPO?
The lot size for Elfin Agro India IPO is 3000 shares, requiring a minimum investment of ₹282,000 (2 lots).
What is the lot size for this IPO?
The lot size for Elfin Agro India’s IPO is 3000 shares.
What is the minimum investment required?
The minimum investment required for this IPO is ₹282,000.
What is the issue price of the shares?
The issue price of the shares is ₹47.0.
When does the IPO open and close?
The IPO opens on 5 March 2026 and closes on 9 March 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on demand and supply in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
05 Mar 2026
Close
09 Mar 2026
Allotment
10 Mar 2026
Listing
12 Mar 2026
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