Fixed Price IPO | ₹25 Cr | Listed at BSE SME | Thu, Mar 5, 2026 - Mon, Mar 9, 2026
Elfin Agro India IPO is a fixed issue price of ₹25.03 crores. The issue is entirely a fresh issue of 0.53 crore shares of ₹25.03 crore.
Elfin Agro India IPO bidding started from Mar 5, 2026 and ended on Mar 9, 2026. The allotment for Elfin Agro India IPO was finalized on Mar 10, 2026. The shares got listed on the BSE SME on Mar 12, 2026.
Elfin Agro India IPO is set final issue price at ₹47 per share. The lot size for an application is 3,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,82,000 (6,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (9,000 shares), amounting to ₹4,23,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Shilpa Stock Broker Pvt.Ltd..
Refer to Elfin Agro India IPO DRHP for detailed Information.
IPO Open
Thu, Mar 5, 2026
IPO Close
Mon, Mar 9, 2026
Issue Price
₹47 per share
Market Cap (Pre-IPO)
₹91.30 Cr
| IPO Date | 5 to 9 Mar, 2026 |
| Listed on | Thu, Mar 12, 2026 |
| Face Value | ₹5 per share |
| Issue Price | ₹47 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 53,25,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 2,67,000 shares Shilpa Stock Broker Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 50,58,000 shares (agg. up to ₹24 Cr) |
| Net Offered to Public | 50,58,000 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 1,41,00,000 shares |
| Share Holding Post Issue | 1,94,25,000 shares |
| BSE Script Code | 544724 |
| ISIN | INE1FEW01013 |
Elfin Agro India IPO comprises a total issue size of 53,25,000 shares. The net offer to the public is 50,58,000 shares, after excluding 2,67,000 shares allotted on a firm basis. Of the Net offer 25,20,000 (49.82%) allocated to NII 25,38,000 (50.18%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 25,20,000 | 49.82% | 47.32% |
| Retail Shares Offered | 25,38,000 | 50.18% | 47.66% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,67,000 | 5.01% | |
| Total Shares Offered | 53,25,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples of 3,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 6,000 | ₹2,82,000 |
| Individual investors (IND) (Max) | 2 | 6,000 | ₹2,82,000 |
| HNI (Min) | 3 | 9,000 | ₹4,23,000 |
Elfin Agro India Limited is primarily engaged in the business of manufacturing of Chakki Atta (High fibre whole wheat flour), R Atta (Refined whole wheat flour), Tandoori Atta (Specialized flour), Sooji (Semolina flour), Maida (Refined Flour) and yellow mustard oil.
The company sells processed wheat flour under our brand “Shiv Nandi” and “ELFIN’S Shri Shyam BHOG” to wholesalers and retailers across Rajasthan, Uttar Pradesh, Gujarat, etc.
The company is also engaged in the extraction, filtering and manufacturing of Edible mustard oil from raw mustard seeds, being the raw material used for its production. Edible mustard oil is sold under our brand “Shiv Nandi”.
They also engage 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.
It has two manufacturing units in Bhilwara, Rajasthan.
The company clientele is spread across 8 states which include Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh and Uttarakhand and 2 Union Territories which include Chandigarh and Delhi.
Competitive Strengths:
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 42.39 | 33.44 | 24.69 | 20.90 |
| Total Income | 117.72 | 146.44 | 124.71 | 101.45 |
| Profit After Tax | 3.98 | 5.08 | 3.68 | 1.81 |
| EBITDA | 6.68 | 7.54 | 5.82 | 3.11 |
| NET Worth | 17.76 | 13.78 | 8.70 | 5.02 |
| Reserves and Surplus | 10.71 | 6.73 | 7.29 | 3.61 |
| Total Borrowing | 12.69 | 12.19 | 7.60 | 7.23 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Shyam Dhani Industries Ltd. | SME | ₹38.49 Cr | ₹70 | 13.19 | ₹139.65 | +99.50% | ₹63.00 (+1.04%) |
| Pajson Agro India Ltd. | SME | ₹74.45 Cr | ₹118 | 10.11 | ₹130.20 | +10.34% | ₹180.00 (+0.56%) |
| Mother Nutri Foods Ltd. | SME | ₹39.59 Cr | ₹117 | 17.78 | ₹124.30 | +6.24% | ₹158.90 (+5.23%) |
| Rukmani Devi Garg Agro Impex Ltd. | SME | ₹23.52 Cr | ₹99 | 8.5 | ₹77.13 | -22.09% | ₹102.65 (-3.57%) |
| Gujarat Peanut & Agri Products Ltd. | SME | ₹23.81 Cr | ₹80 | 8.97 | ₹67.20 | -16.00% | ₹73.45 (+2.01%) |
| Shivashrit Foods Ltd. | SME | ₹70.03 Cr | ₹142 | 16.44 | ₹141.45 | -0.39% | ₹120.90 (-4.54%) |
| Chemkart India Ltd. | SME | ₹80.08 Cr | ₹248 | 9.71 | ₹259.45 | +4.62% | ₹160.60 (+4.97%) |
| Abram Food Ltd. | SME | ₹13.99 Cr | ₹98 | 11.22 | ₹94.92 | -3.14% | ₹61.37 (-5.00%) |
| Shri Ahimsa Naturals Ltd. | SME | ₹73.81 Cr | ₹119 | 12.19 | ₹147.00 | +23.53% | ₹418.35 (-4.64%) |
| Orkla India Ltd. | Mainboard | ₹1,667.54 Cr | ₹730 | 39.11 | ₹713.65 | -2.24% | ₹618.90 (+2.92%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 19.33 |
| 2 | General Corporate Expenses | 3.50 |
| 3 | Issue Expenses | 2.20 |
| Total | 25.03 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 22.42% | 36.86% |
| ROCE | 34% | 47.93% |
| Debt/Equity | 0.71 | 0.88 |
| RoNW | 22.42% | 36.86% |
| PAT Margin | 3.39% | 3.48% |
| EBITDA Margin | 5.69% | 5.17% |
| Price to Book Value | 3.73 | 4.81 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.60 | 2.73 |
| P/E (x) | 13.05 | 17.2 |
| Promoter Holding | 100% | 72.59% |
| Market Cap | ₹91.30 Cr. |
The Elfin Agro India IPO IPO subscription status. Full data available on IPOMatrix.com.
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| Total | 1.35 | 50,58,000 | 68,37,000 | 346 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees (including Underwriting commission) | 0.70 |
| 2 | Registrar to the issue | 0.02 |
| 3 | Legal Advisor | 0.01 |
| 4 | Peer Review Auditors | 0.02 |
| 5 | Market Maker | 0.04 |
| 6 | Sponsor Bank and Bankers to the Issue | 0.01 |
| 7 | UPI Bidding charges, Printing and distribution of Issue Stationary | 0.09 |
| 8 | Regulators Including Stock Exchanges | 0.18 |
| 9 | Advertising & Marketing Expenses | 1.14 |
| Total | 2.20 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹47.00 |
| Open | ₹47.30 |
| Low | ₹47.30 |
| High | ₹48.05 |
| Last Trade | ₹47.60 |
Lead Manager Reports
Elfin Agro India IPO is a SME IPO of 53,25,000 equity shares of the face value of ₹5 aggregating up to ₹25 Crores. The issue is priced at ₹47 per share. The minimum order quantity is 3000.
The IPO opens on Thu, Mar 5, 2026, and closes on Mon, Mar 9, 2026.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Elfin Agro India IPO using UPI as a payment gateway. Zerodha customers can apply in Elfin Agro India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Elfin Agro India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Elfin Agro India IPO opens on Thu, Mar 5, 2026 and closes on Mon, Mar 9, 2026.
Elfin Agro India IPO lot size is 3000, and the minimum amount required for application is ₹2,82,000, with 2 lots being the minimum application size.
You can apply in Elfin Agro India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Elfin Agro India IPO will be done on Tuesday, March 10, 2026, and the allotted shares will be credited to your demat account by Wed, Mar 11, 2026. Check the Elfin Agro India IPO allotment status.
The Elfin Agro India IPO listing date is on Thu, Mar 12, 2026.
