Elfin Agro India Limited shareholders have approved a special resolution to vary the objects and terms of utilisation of proceeds from its Initial Public Offering (IPO). The resolution was passed with a 100% majority in favour among the votes polled.

The postal ballot process, conducted via remote e-voting, concluded on October 11, 2026. The scrutinizer’s report confirmed that the requisite majority for the special resolution was met, allowing the company to proceed with the proposed changes to its IPO fund deployment plans.

Voting results and participation

The voting period commenced on September 12, 2026, and ended on October 11, 2026. Out of the total outstanding equity shares, 77.07% of the share capital participated in the voting process. The promoter and promoter group held 14,100,000 shares and cast all their votes in favour of the resolution. Public non-institutional shareholders holding 5,325,000 shares saw 870,000 shares voted, also entirely in favour.

What the numbers show

The voting data reveals a complete absence of dissent, with zero votes cast against the resolution across all categories. While the overall turnout was robust at 77.07% of outstanding shares, this figure is heavily skewed by the promoter group, which voted 100% of its holding. Among public non-institutional shareholders, only 16.34% of their total holding participated in the vote. This suggests that while the resolution passed unanimously among those who voted, the broader public shareholder base had limited engagement with the specific decision to alter IPO fund usage.

Elfin Agro India Limited has appointed M/s Avnesh Jain & Co., Cost Accountants, as its new Cost Auditor for the financial year commencing April 1, 2026, and ending March 31, 2027.

The appointment was approved by the Board of Directors at a meeting held on September 24, 2026, based on the recommendation of the Audit Committee. The firm will be responsible for auditing the cost records maintained by the company during this period.

Appointment details and compliance

The company disclosed the development to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and the SEBI LODR Master Circular dated January 30, 2026.

Profile of the appointed firm

M/s Avnesh Jain & Co. is a proprietary firm based in Jaipur, Rajasthan. The proprietor, Mr. Avnesh Jain, holds a Fellowship of the Institute of Cost & Works Accountants of India (F.C.M.A.) and other professional qualifications including D.B.F. from the Institute of Chartered Financial Analysts of India.

The firm operates with one ACMA and five audit assistants. Its portfolio includes cost audits for various entities across sectors such as steel, chemicals, textiles, and infrastructure. Prior experience listed includes roles at Kelvinator of India Ltd., Neer Shree Cement Ltd., and Rajasthan Communication Ltd.

Governance and oversight

The appointment underscores the company's adherence to statutory requirements for maintaining accurate cost records. The Board confirmed that the appointed auditor has no relationship with any Director or Key Managerial Personnel of the company, ensuring independence in the audit process.