Elfin Agro India IPO, March 5 -- The initial public offering (IPO) of Elfin Agro India opened for bidding on Thursday, March 5. The SME IPO is slated to close on Monday, March 9.

The fixed-price issue worth Rs.25 crore is entirely a fresh share sale of 0.53 crore shares, with no offer-for-sale component. This means all proceeds raised will be received by the flour manufacturer. The offer is priced at Rs.47 apiece.

The company plans to use the funds for meeting working capital needs and for general corporate purposes.

Investors can apply for Elfin Agro India IPO in lots of 3,000 shares. A retail investors needs to apply for at least two lots, resulting in an investment of Rs.2,82,000 based on the upper end of the price band.

The allotm...