Elitecon International Limited

Minerva Ventures Fund increased its stake in Elitecon International Limited to 8.70% by adding 500,000 shares, bringing its total to 139,011,240 shares. The shares were valued at ₹17.87 apiece.

A manufacturer of cigarettes and tobacco products established in 1987, Elitecon International operates across India's tobacco segment. The company engages in production, distribution, and supply of various tobacco-based products for the domestic market. With operations spanning manufacturing and retail distribution channels, Elitecon serves consumers through established trade networks and maintains a presence in the competitive Indian tobacco industry.

A Mauritius-based foreign portfolio investor and an active anchor investor in Indian SME public issues, where it has backed a steady run of listings. It also builds positions in listed small caps. The fund reports through more than one vehicle, including an Indus QRAC strategy, and both sit under the same administrator.