Elfin Agro India IPO Listing: Elfin Agro India share price made a muted debut in the Indian stock market today, March 12. Elfin Agro share price was listed on Thursday at ₹47.30 apiece on BSE SME, a premium of just 0.63% from its issue price of ₹47.
The IPO marginally outperformed Street expectations, as seen from the grey market premium (GMP). The GMP for the IPO stood at ₹0 per share, which indicated a likely listing price of ₹47 — same as IPO price.
Elfin Agro India IPO Subscription Status
Elfin Agro India IPO witnessed decent subscription in the 3 days of bidding. It was subscribed 1.35 times by the end of Day 3. The retail portion was subscribed 0.59 times and the NII portion was booked 2.12 times.
The company received bids for 68.43 lakh shares against 50.58 lakh shares on offer.
Elfin Agro India IPO Details
The SME IPO opened on March 5 and closed on March 9, with allotments finalised on March 10.
Elfin Agro launched a fixed issue price of ₹25.03 crore. It was entirely a fresh issue of 53 lakh shares with no offer for sale (OFS) component.
The company plans to utilise the net proceeds from the issue primarily to support its business operations and corporate needs. Out of the total funds raised, around ₹19.33 crore will be allocated toward working capital requirements, while approximately ₹3.50 crore will be used for general corporate expenses.
The IPO has a lot size of 3,000 shares. Retail investors are required to apply for a minimum of two lots, or 6,000 shares, translating into a minimum investment of about ₹2,82,000 at the upper end of the price band.
Prior to the public issue, the company secured ₹22.81 crore from anchor investors on February 24.
Finshore Management Services is the book running lead manager and Cameo Corporate Services is the registrar of the issue. The Market Maker of the company is Shilpa Stock Broker.
About Elfin Agro India
Elfin Agro India Limited operates in the manufacturing and processing of wheat-based food products and edible oils. Its product portfolio includes Chakki Atta (high-fibre whole wheat flour), R Atta (refined whole wheat flour), Tandoori Atta, Sooji (semolina), Maida (refined flour) and yellow mustard oil.
The company markets its wheat flour products under the brands “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG”, supplying wholesalers and retailers across states such as Rajasthan, Uttar Pradesh and Gujarat.
In addition, Elfin Agro is involved in the extraction, filtration and processing of edible mustard oil using raw mustard seeds as the primary input. The mustard oil is sold under the “Shiv Nandi” brand.
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. Please consult with an investment advisor before making any investment decisions.
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