Elfin Agro India IPO: The initial public offering (IPO) of Elfin Agro India opened for bidding on Thursday, March 5. The SME IPO is slated to close on Monday, March 9.
The fixed-price issue worth ₹25 crore is entirely a fresh share sale of 0.53 crore shares, with no offer-for-sale component. This means all proceeds raised will be received by the flour manufacturer. The offer is priced at ₹47 apiece.
The company plans to use the funds for meeting working capital needs and for general corporate purposes.
Investors can apply for Elfin Agro India IPO in lots of 3,000 shares. A retail investors needs to apply for at least two lots, resulting in an investment of ₹2,82,000 based on the upper end of the price band.
The allotment for Elfin Agro India IPO will be finalised on March 10, while the shares will be credited to the demat account of allottees on March 11, and the refund to those who did not get the allotment will also be initiated on the same day. Elfin Agro India IPO shares will list on BSE SME on March 12.
Elfin Agro India IPO subscription status
According to data from Chittorgah, Elfin Agro India IPO received bids for 2,19,000 shares as against 50,58,000 shares on offer, resulting in a 4% subscription as of 11 am.
The non-institutional portion was booked 7%, and the retail quota was subscribed 2%. There is no qualified buyer segment in the SME IPO.
Elfin Agro India IPO GMP
The grey market premium (GMP) for Elfin Agro India IPO is tepid. According to websites tracking the unofficial market, Elfin Agro India IPO GMP today is ₹0. This means that shares of Elfin Agro India are trading at par with the offer prices.
If the current GMP prevails, it is likely that Elfin Agro India IPO listing price could be the same as the issue price.
Elfin Agro India details
Elfin Agro India is in the business of manufacturing of chakki atta, R atta, tandoori atta, sooji, maida and yellow mustard oil. The company operates two manufacturing units that are situated in Bhilwara, Rajasthan.
The company is also engaged in the trading of certain agro-products, including Chana, Maize, Soyabean Refined Oil, Rice Bran Refined Oil, Wheat, cattle feed, groundnut oil, etc., based on the prevailing market conditions.
The company’s profit at the end of FY25 stood at ₹5.07 crore as against ₹3.67 crore a year ago, while the total income came in at ₹146.43 crore compared with ₹124.71 crore.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
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