Elfin Agro India IPO Subscribed 1.35 Times on Day 3

Elfin Agro India Limited's initial public offering (IPO) closed its three-day subscription window on a moderate note, reaching 1.35 times overall subscription by 4:54 PM on Day 3 (March 9, 2026). The ₹25.03 crore fixed price issue at ₹47 per share received bids for 68,43,000 shares against 50,58,000 shares on offer, with total applications reaching 351.

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Subscription Status of Elfin Agro India IPO

Here are the subscription details for Elfin Agro India IPO as of Day 3, 4:54 PM:

Key Highlights – Day 3

• Overall subscription reached a moderate 1.35 times, showing improvement from Day 2's 1.03 times.
• Non-institutional investors led subscription with strong interest at 2.12 times, building from Day 2's 1.81 times, indicating steady HNI demand for this agro-processing SME IPO.
• Individual investors recorded 0.59 times, improving from Day 2's 0.25 times, indicating gradual improvement in retail appetite on the final day.
• Total applications reached 351 on Day 3.
• Market makers fully subscribed their allocation of ₹1.25 crores.

Key Highlights – Day 2

• Overall subscription reached 1.03 times, showing substantial improvement from Day 1's 0.47 times.
• Non-institutional investors crossed full subscription at 1.81 times, building from Day 1's 0.81 times.
• Individual investors showed subdued participation at 0.25 times, improving from Day 1's 0.13 times.

Key Highlights – Day 1

• Overall subscription reached 0.47 times, reflecting subdued initial investor interest in this agro-processing SME IPO.
• Non-institutional investors showed the strongest opening participation at 0.81 times on Day 1.
• Individual investors showed weak participation at 0.13 times on Day 1.

About Elfin Agro India Limited

Elfin Agro India Limited is primarily engaged in the manufacturing of Chakki Atta, R Atta, Tandoori Atta, Sooji, Maida, and yellow mustard oil, selling processed wheat flour under the brands "Shiv Nandi" and "ELFIN'S Shri Shyam BHOG" to wholesalers and retailers across Rajasthan, Uttar Pradesh, Gujarat, and other states. The company also manufactures edible mustard oil from raw mustard seeds under the "Shiv Nandi" brand and trades agro-products including chana, maize, soyabean refined oil, rice bran refined oil, wheat, cattle feed, and groundnut oil. It operates two manufacturing units in Bhilwara, Rajasthan, and serves clients across eight states and two union territories.