Elitecon International Limited, a global fast-moving consumer goods (FMCG) company, has announced its decision to raise Rs 300 crore through a Qualified Institutional Placement (QIP). This fresh infusion of capital marks a major step in the company’s expansion strategy at a time when demand for packaged foods and edible oils is rapidly rising across India.
The funds raised from the QIP will be utilised to acquire Sunbridge Agro Pvt. Ltd. and Landsmill Agro Pvt. Ltd. Both companies are well-established players in the edible oil and food processing sector, making them ideal additions to Elitecon’s growing FMCG portfolio.
Legacy Brand Evolves
Founded in 1987 as Kashiram Jain & Company Limited, Elitecon International has evolved from its original identity into a diversified, globally recognised FMCG enterprise. Headquartered in India and listed on the Bombay Stock Exchange (BSE), the company operates in more than 50 countries, with subsidiaries in the UAE and Singapore.
Elitecon’s manufacturing units in Nashik use automation and modern technology to produce a variety of consumer goods. Although tobacco products remain one of its key revenue contributors, the company is rapidly expanding into packaged foods, edible oils, and daily-use household products to reduce dependency on a single category.
Financial Momentum Continues
The company’s financial performance reflects its aggressive growth trajectory. In FY25, Elitecon reported consolidated net sales of Rs 548.76 crore and a net profit of Rs 69.65 crore. Remarkably, in Q1 FY26 alone, the company logged Rs 524.87 crore in net sales and Rs 72.08 crore in net profit, surpassing its previous full-year earnings within just three months.
This exceptional performance signals rising market demand and operational efficiency, creating the right timing for strategic acquisitions through the upcoming QIP.
Acquisition Targets Show Strength
Sunbridge Agro Pvt. Ltd., one of the acquisition targets, operates an 800 metric tonne per day edible oil refinery at Kandla with extensive storage facilities. The company reported FY25 sales of Rs 1,443.32 crore and is projected to grow by nearly 75 percent in FY26.
Similarly, Landsmill Agro Pvt. Ltd. runs a modern production facility in Mathura, supported by a network of over 500 distributors. It generated Rs 1,394.80 crore in FY25 revenue and is expected to deliver 29 percent sales growth in FY26.
What is QIP?
A Qualified Institutional Placement (QIP) is a fundraising mechanism that allows listed companies in India to raise capital by selling shares exclusively to qualified institutional investors such as mutual funds, insurance companies, and foreign portfolio investors. Unlike public offerings, QIP is faster, cost-efficient, and involves fewer regulatory hurdles, making it a preferred route for growth-stage companies.
By choosing QIP instead of a public issue, Elitecon avoids market volatility, ensures quicker fund access, and retains tighter control over stock pricing.
FMCG Expansion
Through these acquisitions and fresh capital deployment, Elitecon is positioning itself as a strong force in India’s fast-growing food and edible oils segment. The move is expected to scale manufacturing capacity, improve distribution reach, and enhance brand visibility both in India and across global markets.
With a solid legacy and renewed growth appetite, Elitecon International now stands ready to transform itself from a traditional business into a modern FMCG powerhouse.
