Elfin Agro IPO Listing: After slowness in this IPO, check market strategy before new entry.

Elfin Agro IPO Listing: Shares of flour and oil manufacturing company Elfin Agro came with a slight premium in the BSE SME market today. Its IPO received a mixed response, in which retail investors’ share was slightly more than half subscribed. The shares were issued at a price of Rs 47.

Today, it came at ₹47.30 on the BSE SME market, which means IPO investors got a listing gain of only 0.64%. After listing, the shares rose to ₹48.05 (Elfin Agro share price), which means IPO investors have now made a profit of 2.23%.

How will the funds received from Elfin Agro IPO be spent?

Elfin Agro’s Rs 25 crore IPO was open for subscription from March 5-9. The IPO received a mixed response from investors and was subscribed 1.35 times overall.

The reserved portion for non-institutional investors (NIIs) was subscribed 2.12 times, while the reserved portion for retail investors was subscribed only 0.59 times.

Under this IPO, 53.25 lakh new shares with face value of Rs 5 were issued. Of the funds raised from these shares, Rs 19.33 crore will be used for working capital needs. The remaining amount will be spent on general corporate work.

About Elfin Agro

Elfin Agro India mainly does business of mill flour, refined flour, tandoori flour, semolina, refined flour and yellow mustard oil. The company sells wheat flour under the brand names Shiv Nandi and Elfins Shree Shyam Bhog in eight states and union territories, including Rajasthan, Uttar Pradesh and Gujarat.

It also sells mustard oil under the brand name Shiv Nandi. It also sells items like chickpeas, soybean refined oil, corn, wheat and animal feed. It has two manufacturing units in Bhilwara, Rajasthan.

Elfin Agro India mainly deals in mill flour, refined flour, tandoori flour, semolina, refined flour and yellow mustard oil. The financial condition of the company is continuously improving.

It reported a net profit of ₹1.81 crore in FY 2023, which increased to ₹3.68 crore in FY 2024 and then to ₹5.08 crore in FY 2025. During this period, the total income of the company also increased to Rs 146.44 crore at a compound annual growth rate (CAGR) of more than 20%.

For the current financial year 2026, the company achieved a net profit of Rs 3.98 crore and total income of Rs 117.72 crore in April-December 2025. ​​At the end of December 2025 quarter, the company had a total debt of Rs 12.69 crore, while reserves and surplus were Rs 10.71 crore.