Elfin Agro India IPO Subscription Day 2

Posted by : Ekta Dhawan | Fri Mar 06 2026

Here, the Elfin Agro India IPO launched on 5th March 2026. Bidding for the issue will close today, 9th March 2026. The primary aim of the Elfin Agro India IPO is to raise ₹25.03 crores from the market. Also, the Elfin Agro India IPO has received an impressive level of subscription, indicating that the shares will be listed at an impeccable premium. Scroll down to check the Elfin Agro India IPO subscription and details.

Elfin Agro India IPO Details

IPO Open Date	5th March 2026
Face Value	₹10 per share
Price Band	₹47 per share
Lot Size	3,000 shares
Issue Type	Fixed Price IPO
Listing At	BSE & SME
IPO Close Date	9th March 2026
Listing Date	12th March 2026

The price band for Riddhi Display Equipment’s IPO has been set at ₹47 per share, and a total of 53,25,000 shares are being issued. Let’s segregate the share quota fixed for different categories of investors.

Investor Categories	Shares Offered	Shares Percentage
Market Maker 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 Subscription Status

As of now, the Elfin Agro India IPO has been subscribed to 0.47 times. Of these, 0.13 times are subscribed by retail investors, 0.81 times by non-institutional investors, and [.] times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Elfin Agro India’s IPO listing on 12th March 2026. Elfin Agro India also has a positive outlook behind the fresh issue of 0.53 crore shares, which will raise around Rs 25.03 crores.

Elfin Agro India IPO GMP Today

We know that higher subscription levels drive grey-market premiums for IPOs. Let’s explore the Elfin Agro India IPO GMP for 6th March 2026.

The grey market premium for this IPO is flat at 0.00%, or Rs 47 per share. It indicates that the estimated listing price per share is Rs 47.00. Numerous factors played a pivotal role in this jump in the GMP of Elfin Agro India IPO. These include higher subscription rates, favourable market sentiment, and investors’ positive attitude towards IPOs.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
6-3-3036	₹47.00	₹0.00	₹47.00	0.00%
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%

Table of Contents

About Elfin Agro India Ltd.

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’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.

Technical Indicators

Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technical aspects 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

Elfin Agro India IPO Listing Expectations

Elfin Agro India IPO Highlights: IPO allotment is still pending, as the bid will close today. However, given the current GMP or market sentiment, it is reasonable to expect higher listing gains for the share. A flat of 0.00% in Elfin Agro India Highlight GMP suggests the estimated listing price per share will be around Rs 47.

It will provide higher listing gains to investors who applied for this IPO. Also, the financial fundamentals of this business made it the experts’ top long-term recommendation.

Elfin Agro India IPO Dates

IPO Open Date	5th March 2026
IPO Close Date	9th March 2026
Allotment	10th March 2026
Refund Date	11th March 2026
IPO Listing Date	12th March 2026

Note: IPO GMP is volatile and depends on market sentiment. Hence, one should conduct their research before investing in it.