Elfin Agro India Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹47
Per ShareLot Size
3000 Shares
Minimum Investment
₹1,41,000
Issue Size
₹25.03 Cr
Face Value
₹5
Per ShareIPO Type
Fixed Price - SME
Retail Quota
50.18%
QIB Quota
0%
NII Quota
49.82%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Elfin Agro India Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
72.59%
Issue Type
Fixed Price - SME
ISIN
INE1FEW01013
About the Company
The Company is primarily engaged in the business of manufacturing of Chakki Atta (High fibre whole wheat flour), R Atta (Refined whole wheat flour), Tandoori Atta (Specialized flour), Sooji (Semolina flour), Maida (Refined Flour) and yellow mustard oil. As on the date of this prospectus, the Company has two manufacturing units that are situated at Bhilwara, Rajasthan, viz., (i) Flour Processing Unit and (ii) Mustard oil Processing Unit. The Company also engage in the trading of certain agro products, including Chana, Maize, Soyabean Refined Oil, Wheat, Groundnut Oil, etc based on the prevailing market conditions. The Company has a well-diversified customer base catering to various segments like B2B Clients, Wholesalers, Traders, Retailers and Individual consumers.
Industry Overview
In India, agriculture is the primary source of livelihood for 55% of the population. Factors contributing to the sharp growth in demand for processed foods include increasing urbanization, increasing disposable incomes, changing spending patterns/ priorities, the emergence of nuclear families, and the growing need for convenience foods in dual-income nuclear families. The Indian food processing industry accounts for 32% of the country's total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.
Company History
The company was originally incorporated as a Private Limited Company under the name "Ravija Sulz Private Limited" on July 28, 2009, in accordance with the Companies Act, 1956 bearing Corporate Identification Number U17119RJ2009PTC029463 issued by Registrar of Companies - Rajasthan. Subsequently the name of the company was changed to "Elfin Agro India Private Limited" vide a fresh Certificate of Incorporation consequent upon Change of Name dated June 05, 2012 bearing Corporate Identification Number U15132RJ2009PTC029463 issued by Registrar of Companies Rajasthan. Subsequently on November 18, 2024, the company got converted into a public limited company, resulting in a name change to "Elfin Agro India Limited" vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company bearing Corporate Identification Number U15132RJ2009PLC029463, issued by the Registrar of Companies, Central Processing Centre.
Products & Services
- The Company is primarily engaged in the business of manufacturing of Chakki Atta, R Atta (Refined whole wheat flour), Tandoori Atta (Specialized flour), Sooji (Semolina flour), Maida (Refined Flour) and yellow mustard oil.
Growth Strategy
- Enhancement of the existing product portfolio and its diversification.
- To create brand awareness.
- Quality Assurance and Compliance.
- To make our product's presence available on e-markets and at big retail chains.
- Geographical expansion of its presence in the Indian market.
- To increase our direct B2C sales of both flour mill and oil mill products.
- To increase the network of wholesalers.
- Optimal Utilization of Resources.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 53,25,000 equity shares of face value of Rs.5/- each ("Equity Shares") of Elfin Agro India Limited (the "Company" or the "Issuer") for cash at a price of Rs. 47/- per equity share, including a share premium of Rs. 42/- per equity share (the "Issue Price"), aggregating to Rs. 25.03 Crores ("The Issue"), of which 2,67,000 equity shares of face value of Rs. 5/- each for cash at a price of Rs. 47/- per equity share, aggregating to Rs. 1.25 Crores will be reserved for subscriptions by the market maker to the issue (the "Market Maker Reservation Portion"). The issue less market maker reservation portion i.e. Issue of 50,58,000 equity shares of face value of Rs. 5/- each for cash at a price of Rs. 47/- per equity share, aggregating to Rs. 23.77 Crores is here in after referred to as the "Net Issue". The issue and the net issue will constitute 27.41% and 26.04% respectively of the post issue paidup equity share capital of the company. The face value of the equity share is Rs.5/- each and the issue price is Rs. 47/- each i.e., 9.40 times of the face value of the equity shares. The minimum lot size is 3,000 equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Established and proven track record.
- Leveraging the experience of its Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
- The company's Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
- The company's operations are dependent on the supply of raw materials. Inadequate or interrupted supply and price fluctuation of the company's raw materials and packaging materials could adversely affect its business, results of operations, cash flows, profitability and financial condition. Any change in guidelines by Government of India or any other governmental nodal agencies for procurement or stocking of wheat and mustard seeds can also impact prices of raw materials. Any increase in the cost of, or a shortfall in the availability of, such raw materials could have an adverse effect on the company's business and results of operations, and seasonable variations could also result in fluctuations in the company's results of operations.
- The company derives significant portion of the company's revenue from sale of limited variety of the company's products. An inability to adapt to evolving consumer preferences, anticipate regulatory requirements, and industry trends and demand for particular products, or ensure product quality may adversely impact demand for its products and consequently the company's business, results of operations, financial condition and cash flows and competitive position in the agro-processing industry.
- The company's revenue contribution from its trading operations is subject to volatile and uncontrollable market conditions, which may materially and adversely affect its profitability, financial condition and results of operations.
- The company derives significant portion of the company's revenues from Maida, any reduction in demand or in the production of such product could have an adverse effect on the company's business, results of operations and financial condition.