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Elfin Agro India IPO: GMP, Price, Analysis & Details
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Elfin Agro India IPO- Company Analysis
Elfin Agro India IPO under the SME IPO category is a bookbuild issue of Rs. 25.03 Cr by Elfin Agro India Limited and is mainly involved in the production of yellow mustard oil, Sooji (semolina flour), Maida (refined flour), Tandoori Atta (specialized flour), R Atta (refined whole wheat flour), and Chakki Atta (high fiber whole wheat flour).
The company supplies wholesalers and retailers in Rajasthan, Uttar Pradesh, Gujarat, and other states with processed wheat flour under the brands "Shiv Nandi" and "ELFIN'S Shri Shyam BHOG."
In addition, the company extracts, filters, and produces edible mustard oil from raw mustard seeds, which serve as the raw material. We sell edible mustard oil under the "Shiv Nandi" brand.
Elfin Agro India IPO Details
The Elfin Agro India IPO date of opening is 05 Mar 2026, its initial public offering will end on 09 Mar, IPO allotment on Mar 10 and refund initiation on Mar 11, 2026.
The Rs. 25.03 crore new SME IPO comprises a wholly fresh issue of 0.53 crore Shares.
The Elfin Agro India IPO listing date (expected) might be on Thursday, Mar 12, 2026, and listing at the BSE and SME.
The Elfin Agro India IPO price band is Rs. 47.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Mar 05, 2026 |
|
IPO Closing Date |
Mar 09, 2026 |
|
IPO Allotment Date |
Mar 10, 2026 |
|
Refund Initiation |
Mar 11, 2026 |
|
IPO Listing Date |
Mar 12, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
33.44 |
24.69 |
20.90 |
|
Total Income |
146.44 |
124.71 |
101.45 |
|
PAT |
5.08 |
3.68 |
1.81 |
|
EBITDA |
7.54 |
5.82 |
3.11 |
|
Net Worth |
13.78 |
8.70 |
5.02 |
|
Reserves & Surplus |
6.73 |
7.29 |
3.61 |
|
Total Borrowing |
12.19 |
7.60 |
7.23 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
(307.71) |
279.32 |
8.09 |
|
Net Cash Flow Investing Activities |
(46.02) |
(245.44) |
(332.90) |
|
Net Cash Flow Financing Activities |
373.04 |
(33.24) |
310.97 |
Revenue Bifurcation
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- Working Capital Requirements. ~ Rs. 19.33 Cr.
- General Corporate Expenses. ~ Rs. 3.50 Cr.
Listed Peers of Elfin Agro India Ltd.
|
Name of Company |
Face Value (₹) |
Basic EPS (₹) |
PE Ratio (x) |
|
Abram Food Limited |
10.00 |
9.05 |
11.05 |
Valuation
|
KPI |
Value |
|
ROE |
36.86% |
|
ROCE |
47.93% |
|
Debt/Equity |
0.88 |
|
RoNW |
36.86% |
|
PAT Margin |
3.48% |
|
EBITDA Margin |
5.17% |
|
Price to Book Value |
4.81 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 3.60 from the last year, the resulting P/E ratio is 13.05x.
Explore the Kiaasa Retail IPO.
Elfin Agro India IPO GMP (Grey Market Premium)
Elfin Agro India IPO GMP today is Rs. 0 as of 28 Feb 2026 while writing this information.
Elfin Agro India IPO Summary
|
IPO Opening & Closing Date |
05 Mar, 2026 to 09 Mar, 2026 |
|
Face Value |
Rs. 5 per Share |
|
Issue Price |
Rs. 47 per Share. |
|
Lot Size |
3000 Shares |
|
Issue Size |
53,25,000 Shares (Rs. 25 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
53,25,000 Shares (Rs. 25 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Cameo Corporate Services Ltd. |
IPO Lot Details
Retail investors can invest in a minimum of 2 Lots (6000 Shares) for Rs. 2,82,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (9000 Shares) for Rs. 4,23,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Elfin Agro India IPO Allotment Status
To check the Elfin Agro India IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Elfin Agro India Ltd.
- Mr. Vimal Kumar Daga
- Mr. Deepak Pal Daga
- Mrs. Seema Daga
- Mrs. Neetu Daga
- M/s. Vimal Kumar Ayush Pal Daga HUF
- M/s. Vimal Kumar Deepak Pal Daga HUF
- M/s. Deepak Pal Harsh Kumar Daga HUF.
|
Pre-Issue Promoter Shareholding |
100% |
|
Post-Issue Promoter Shareholding |
72.59% |
IPO Lead Managers
-
Finshore Management Services Ltd.
Dividend Policy
The company has not paid a dividend during the last three years.
Conclusion
With a solid ROE (36.86%), ROCE (47.93%), and steady revenue/PAT growth over time, Elfin Agro India IPO offers a respectable opportunity in the agro-processing industry. The issue is backed by solid margins and funds largely for working capital needs, making it competitively valued at a P/E of about 13x based on FY25 EPS.
However, due to the high retail/HNI lot sizes, little dividend history, and flat GMP at Rs. 0, cautious investors can wait for subscription patterns after the March 5, 2026, opening before applying.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
