Minerva Ventures Fund Acquires 8.58% Stake in This Small-Cap Tobacco Company
The stock has given multibagger returns of 156 per cent from its 52-week low of Rs 20.60 per share and a whopping 4,200 per cent in 5 years.
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Minerva Ventures Fund, a Mauritius-based investment entity, has acquired an 8.58 per cent stake in Elitecon International Limited. The fund purchased 137,088,605 shares, representing 8.5761 per cent of the company’s total shareholding and voting capital. Prior to this transaction, Minerva Ventures Fund did not hold any shares or voting rights in Elitecon International Limited.
The acquisition was completed on February 27, 2026, through a combination of warrants issuance and open market purchases. Elitecon International Limited is listed on the BSE. The disclosure also confirmed that the acquirer does not belong to the promoter or promoter group of the company.
Following the transaction, the total voting capital of Elitecon International Limited stands at 1,598,500,000 shares.
About the Company
Established in 1987, Elitecon International Ltd (EIL) specialises in the manufacturing and trading of a diverse range of tobacco and allied products for both domestic and international markets. The company's product portfolio includes smoking mixtures, cigarettes, pouch khaini, zarda, flavoured molesis tobacco, yummy filter khaini and other tobacco-based items. EIL has a notable international presence, operating in the UAE, Singapore, Hong Kong and European countries such as the UK and plans to expand its offerings to include products like chewing tobacco, snuff grinders and match-related articles. The company also boasts its brands, including "Inhale" for cigarettes, "Al Noor" for sheesha and "Gurh Gurh" for smoking mixtures.
Elitecon International Ltd (EIL) demonstrated explosive financial growth in the first half of the 2026 fiscal year, characterised by a massive surge in top-line revenue. Quarterly Results show net sales climbed 318 per cent to Rs 2,192.09 crore, with net profit rising 63 per cent to Rs 117.20 crore compared to the previous quarter. This momentum is even more pronounced on a half-yearly basis; net sales skyrocketed by 581 per cent to Rs 3,735.64 crore, while net profit jumped 195 per cent to Rs 117.20 crore compared to the same period last year. This rapid scaling follows a conservative 2025 fiscal year, where the company reported annual net sales of Rs 548.76 crore and a net profit of Rs 69.65 crore.
The company has a market cap of over Rs 9,300 crore. The stock has given multibagger returns of 156 per cent from its 52-week low of Rs 20.60 per share and a whopping 4,200 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.