Elfin Agro India share price lists at ₹47.30 on BSE SME, a premium of just 0.63% over issue price
Elfin Agro India share price got listed at ₹47.30 on BSE SME, a slight 0.63% increase over the IPO price. The offer was subscribed 1.35 times. The company focuses on manufacturing wheat-based products and edible oils.
Elfin Agro India IPO Listing: Elfin Agro India share price made a muted debut in the Indian stock market today, March 12, as it got listed at ₹47.30 apiece on BSE SME, a premium of just 0.63% over its initial public offering (IPO) price of ₹47.
The listing was largely in line with the Street expectations, as seen from the grey market premium (GMP). Elfin Agro India IPO GMP stood at ₹0 per share, which indicated a likely listing price of ₹47 — same as the offer price.
Elfin Agro India IPO Subscription Status
Elfin Agro India IPO witnessed decent subscription during the three-day bidding process. It was subscribed 1.35 times by the end of the third day. 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 allotment finalised on March 10.
Elfin Agro launched a fixed issue price of ₹25.03 crore. It was entirely a fresh sale 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 were 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.
Before 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.
About the Author
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.