BSE SME Elfin Agro India makes a quiet market debut

The scrip listed at Rs 47.30, a 0.64% premium to the issue price. The stock was currently trading near its listing price. The stock touched a high of Rs 48.05 and a low of Rs 47.30, with around 4.47 lakh shares changing hands on the counter.

Elfin Agro India's IPO was subscribed 1.33 times. The issue opened for bidding on 5 March 2026 and it closed on 9 March 2026. The price of the IPO was fixed at Rs 47 per share.

The IPO comprised fresh issue of 53,25,000 equity shares. The promoter and promoter shareholding diluted to 72.59% from 100% pre-IPO.

The company intends to utilize the net proceeds for working capital requirements and for general corporate purpose.

Elfin Agro India is engaged in the manufacturing and processing of wheat-based food products and edible oils, producing items such as chakki atta, refined wheat flour, tandoori atta, sooji, maida and mustard oil. Its flour products are sold under the Shiv Nandi and ELFIN'S Shri Shyam Bhog brands, while mustard oil is marketed under the Shiv Nandi brand. The company also trades in agro-products such as chana, maize, wheat, cattle feed and various edible oils. It operates two manufacturing units in Bhilwara, Rajasthan, and distributes its products across eight states and two Union Territories in India. As on 31 January 2026, the company had 23 employees.

The company recorded revenue from operations of Rs 11.78 crore and net profit of Rs 3.98 crore for the period ended 31 December 2025.

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