Elfin Agro India IPO Review 2026: GMP Flat, Key Investor Insights

Posted by : Neeraj Pandey | Wed Mar 04 2026

Elfin Agro India IPO is open for bidding from 5th March 2026 to 9th March 2026. It is a fixed price issue IPO of ₹25.03 crore, comprising an entirely fresh issue of 0.53 crore shares. The issue will be listed on BSE and SME on its tentative listing date, 12th March 2026.

Table of Contents

Elfin Agro India IPO Details

The Elfin Agro India IPO date is scheduled from 5th March 2026 to 9th March 2026. The face value of Elfin Agro India shares stands at ₹10 per share, and the IPO Issue price band is set at ₹47 per share

Cameo Corporate Services Limited is the registrar of the Elfin Agro India IPO and is responsible for managing the allotment process and initiating refunds. Check out the latest IPO details in the table below.

IPO Allotment Date	10th March 2026
IPO Open Date	5th March 2026
IPO Close Date	9th March 2026
Refund Initiation	11th March 2026
Issue Size	53,25,000 shares(agg. up to ₹25 Cr)
Face Value	₹5 per share
Lot Size	3,000 Shares
Issue Price	₹47 per share
Issue Type	Bookbuilding IPO
Listing At	BSE & SME
Listing Date	12th March 2026

Elfin Agro India IPO Share Reservation

Elfin Agro India IPO is a bookbuilding issue of 0.53 crore shares, worth ₹25.03 crore. Elfin Agro India IPO Limited shares will be listed on the BSE and the SME. Furthermore, SEBI has specified the share reservation criteria for different investor categories.

Investor Categories	Shares Offered	Shares Percentage
QIB Shares Offered	2,67,000	5.01%
NII (HNI) Shares Offered	25,20,000	47.32%
Retail Shares Offered	25,38,000	47.66%
Total Shares Offered	53,25,000	100.00%

Elfin Agro India IPO GMP Grey Market Premium

GMP is the gap between the issue price band and the price at which company shares are currently trading in the grey market. Do you want to get live updates on the Elfin Agro India IPO? If yes, then you’ve reached the right spot. Check the table below to learn about the GMP trends.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
7-3-2026	–	–	–	–
6-3-2026	–	–	–	–
5-3-2026	₹47.00	₹0.00	₹47.00	0.00%
4-3-2026	₹47.00	₹0.00	₹47.00	0.00%
3-3-2026	₹47.00	₹0.00	₹47.00	0.00%
2-3-2026	₹47.00	₹0.00	₹47.00	0.00%
1-3-2026	₹47.00	₹0.00	₹47.00	0.00%
28-2-2026	₹47.00	₹0.00	₹47.00	0.00%
27-2-2026	₹47.00	₹0.00	₹47.00	0.00%

As of 5th March 2026, the Elfin Agro India IPO GMP stands at ₹0 per share, indicating the share will likely list at ₹47.00 on its tentative listing date, 12th March 2026.

GMP data is subject to change based on market trends and sentiments. You should check the live GMP status before applying for the Elfin Agro India IPO GMP. Stay informed with Univest for real-time insights into IPOs and their GMP trends.

Elfin Agro India IPO GMP Review

Check out the detailed Elfin Agro India GMP IPO review for a thorough understanding of its potential to report listing gains on 12th March 2026. The Elfin Agro India IPO review below will help you invest effectively to avoid significant losses. Explore more to make informed investment decisions on this IPO.

Financial Health

Assess a company’s financial performance to know about its ability to sustain a competitive edge. Thus, it is essential to understand the business’s economic growth and decline before applying for the Elfin Agro India IPO.

Elfin Agro India Limited’s revenue increased by 17.42% from ₹124.71 crores in March 2024 to ₹146.44 crores in March 2025. Moreover, the company’s PAT increased by 38.04% from ₹3.68 crore in March 2024 to ₹5.08 crore in March 2025.

Elfin Agro India IPO has shown consistent revenue growth, indicating the company’s financial stability. Moreover, brokers, investors, and RAs have a positive outlook for the Elfin Agro India IPO, with its tentative listing day set for 12th March 2026.

Technical Analysis

Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technicals of the Elfin Agro India IPO.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	13.05
EPS (Earnings Per Share)	3.60
RoNW	22.42%
ROCE	34.00%
ROE	22.42%
EBITDA Margin	5.69%
Price to Book Value	3.73
Market Capitalisation	₹91.30 Cr

The P/E ratio of Elfin Agro India Limited shares is 13.05, and its Earnings Per Share (EPS) stands at 3.60. Thus, the Elfin Agro India IPO can deliver gains on its tentative listing date, 12th March 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Elfin Agro India Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	13.05	17.20
EPS	3.60	2.73

Elfin Agro India IPO Subscription Status

The Elfin Agro India IPO will open for bidding on 5th March 2026. The subscription status for this IPO is yet to be announced. Stay informed on this passage to check the live Elfin Agro India IPO Subscription Status.

Investor Categories	Shares Offered	Shares Percentage	Shares Subscribed	Subscription to the Times
QIB Shares Offered	2,67,000	5.01%	Yet to be announced	Yet to be announced
NII (HNI) Shares Offered	25,20,000	47.32%	Yet to be announced	Yet to be announced
Retail Shares Offered	25,38,000	47.66%	Yet to be announced	Yet to be announced
Total Shares Offered	53,25,000	100.00%	Yet to be announced	Yet to be announced

About Elfin Agro India Limited

The company is also involved in the extraction and manufacturing of edible mustard oil from raw mustard seeds, which is the raw material for the production of edible mustard oil. Edible mustard oil is sold under our brand “Shiv Nandi.” The company is also in the business of trading of certain Agro products like Chana, Maize, Soyabean Refined Oil, Rice Bran Refined Oil, Wheat, cattle feed, groundnut oil, and other Agro products depending on the market conditions. It has two units located in Bhilwara in the state of Rajasthan. The clientele of the company is spread across 8 states which include Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand. 2 Union Territories include Chandigarh and Delhi.

Elfin Agro India Limited Financials

The company’s financial analysis is essential before applying for the Elfin Agro India IPO. See the table for Elfin Agro India Limited’s financials.

Year Ended	31st Dec 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)	31 Mar 2023 (in cr.)
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 Borrowings	12.69	12.19	7.60	7.23

Explanation

Elfin Agro India Limited IPO Promoter Holdings

Shashikanth Suryanarayanan, Amit Arun Dixit, Manish Sharma and Anaykumar Avinash Joshi are the promoters of the company.

Shareholding Pre-Issue	100.00%
Shareholding Post-Issue	72.59%

Note: The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue.

Aim of the Elfin Agro India IPO

The primary aim of the Elfin Agro India IPO is to raise ₹25.03 crores.

Should I Invest in the Elfin Agro India IPO?

Explore the pros and cons of Elfin Agro India to decide whether to apply or avoid the issue. These pros and cons might help you understand the IPO’s efficiency in delivering profits over the coming decades.

Pros of the Elfin Agro India IPO

The company has strategically located Processing Units with robust infrastructure
The company has a widespread distribution network and presence across various retail channels
The company has Installed Capacity, cost-effective production and timely fulfilment of orders
The company has existing client relationships

Cons of the Elfin Agro India IPO

The company has thin profit margins & vulnerability to input costs
The company has regional market concentration
The company has limited product diversification
The company has working capital & cash flow risk

How to Apply for the Elfin Agro India IPO?

Check the steps mentioned below to apply for Elfin Agro India Ltd.

Step 1: Conduct thorough research on the Elfin Agro India IPO GMP, subscription status, issue size, lot size, and other details.
Step 2: Open a demat account with Univest to access real-time insights on GMP and subscription status. You can also use your previous demat account by navigating to the IPO section.
Step 3: Make a bid for 2 lots of 6,000 shares worth ₹2,82,000.
Step 4: You will receive a mandate request after making a bid. Approve the request to proceed further.

Note: You can apply for the Elfin Agro India IPO across multiple demat accounts to increase your chances of allotment.

How to Check the Elfin Agro India IPO Allotment Status?

You can check for the Elfin Agro India IPO allotment in different ways. These include NSE and the registrar portal. Follow the steps below to check your allotment status online.

Check On BSE

Visit the BSE Official Site
Navigate to the IPO Allotment Section.
Select Equity as the issue type.
Choose the Elfin Agro India IPO.
Choose whether to proceed with the PAN number or the application number.
Submit your details to get the allotment status online.

Check On the Registrar Portal

Visit the registrar portal.
Click on the allotment option.
Fill in the required details.
Click on the submit button to know your Elfin Agro India IPO allotment status.

Let’s Wrap

Elfin Agro India IPO is a fixed-price issue of shares worth ₹25.03 crores. The shares of Elfin Agro India Limited will be listed on the BSE and SME on its tentative listing date of 12th March 2026. Researching the Elfin Agro India IPO GMP and reviews is highly recommended to achieve your desired profitability. Brokers and investors have highlighted their pros and cons, so one must analyse them and decide accordingly.

Open a demat account on Univest now to initiate your investment journey!

FAQs on Elfin Agro India IPO

How is the Elfin Agro India IPO?

Ans. Currently, on 5th March 2026, the Elfin Agro India GMP (Grey Market Premium) stands at ₹0. It indicates that the estimated listing price could be ₹47.00 per share. It is a fixed price issue IPO of ₹25.03 shares. The face value of each Elfin Agro India share is ₹5.

What is the Elfin Agro India IPO price?

Ans. The Elfin Agro India IPO issue price band is set at ₹47.00 per share.

Is the Elfin Agro India IPO a good investment?

Who is the registrar of the Elfin Agro India IPO?

Ans. MUFG Intime India Private Limited is the registrar for the Elfin Agro India IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Elfin Agro India allotment and refund, you can contact MUFG Intime India Private Limited at sedemac.ipo@in.mpms.mufg.com or +91-22-4918 6270.

What is the issue size of the Elfin Agro India IPO?

Ans. Elfin Agro India IPO is a bookbuilding IPO of ₹25.03 crores. Moreover, the IPO is set to open on 5th March 2026 and close on 9th March 2026.

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Elfin Agro India IPO, download the Elfin Agro India IPO RHP and Elfin Agro India IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.