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The Elfin Agro India IPO opened for subscription on March 5, 2026. The public issue received a slow response from investors on the first day of bidding.
The company plans to raise nearly Rs. 25.03 crore through this SME IPO. The issue price is fixed at Rs. 47 per share, and the IPO will remain open for subscription until March 9.
Early data indicate that investors are cautious. The IPO subscription status on Day 1 shows that the issue has not yet reached full subscription.
As of 6:54 PM on March 5, the Elfin Agro India IPO was subscribed 0.47x overall.
The non-institutional investor category showed the highest interest. This segment logged 0.81x subscription on the first day.
Retail investors showed lower participation, with subscriptions at 0.13x by the end of Day 1.
Institutional investors did not place major bids on the opening day. In many BSE SME IPO issues, investors usually wait until the last few days before applying.
The Elfin Agro India IPO includes 53,25,000 fresh equity shares. Each share has a face value of Rs. 5 and an issue price of Rs. 47.
Retail investors must apply for at least 3,000 shares. This means the minimum investment for retail investors is close to Rs. 2,82,000.
Investors in the NII category must apply for at least 9,000 shares. It requires an investment of approximately Rs. 4,23,000.
The issue opened on March 5 and will close on March 9. The basis of allotment is expected on March 10.
Refunds and share credit are expected on March 11. The IPO listing is planned for March 12 on the BSE SME platform.
Finshore Management Services Ltd. is the lead manager for the issue. Cameo Corporate Services Ltd. is the registrar.
Elfin Agro India works in the agro-processing sector. The company produces products such as chakki atta, maida, sooji, and tandoori atta. It also sells yellow mustard oil.
The grey market premium for the Elfin Agro India IPO is currently around Rs. 0. This suggests neutral expectations for the listing price.
Many market watchers believe demand may improve in the coming days. Several SME IPO issues received strong subscriptions closer to the closing date.
The final IPO subscription status will become clearer over the next few days before the IPO listing on the BSE SME platform.
Also Read: IPO List for This Week: SEDEMAC Leads Early March 2026 Offerings
