Elfin Agro India Ltd IPO

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About the Company

Elfin Agro India Limited is engaged in the manufacturing and processing of wheat-based flour products and edible mustard oil. The company operates two manufacturing units located at the RIICO Growth Centre, Bhilwara, Rajasthan. Its flour processing unit manufactures Chakki Atta (high-fibre whole wheat flour), R Atta (refined whole wheat flour), Tandoori Atta, Maida and Sooji, while its mustard oil processing unit is engaged in the extraction and filtration of edible mustard oil. The installed capacity of the flour processing unit is 47,450 MTPA, and that of the mustard oil unit is 18,250 MTPA. The company markets its flour and mustard oil products under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG.” In addition to manufacturing, it undertakes trading in select agro-products such as chana, maize, soybean refined oil, rice bran refined oil, wheat, cattle feed and groundnut oil, depending on market conditions. By-products such as wheat bran and mustard oil cake are sold as cattle feed or to de-oiled cake plants. Raw materials, including wheat and mustard seeds, are procured primarily from Rajasthan and neighbouring states through farmers, traders and government auctions. The company supplies its products across multiple states through B2B clients, wholesalers, retailers, traders and direct consumers. Certain operational activities, including loading, unloading and packaging, are outsourced to contractors. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Working capital requirements – Rs 19.33 crore General corporate expenses – Rs 3.50 crore