Ellenbarrie Industrial Gases IPO Opens On June 24: GMP Indicates 2.5% Listing Gain, Check Key Details

Ellenbarrie Industrial Gases Ltd. (EIGL), a leading manufacturer and supplier of industrial, medical and speciality gases, is set to launch its initial public offering (IPO) on Tuesday, June 24.

The mainboard IPO is a book-built issue worth Rs 852.53 crore.

Founded in 1973, EIGL has built a strong presence in the gas manufacturing sector, serving a wide range of industries across India.

Here’s everything you need to know about the Ellenbarrie Industrial Gases IPO, including its grey market premium, price band and offer size, among others.

According to the Investorgain, a day before the launch, the GMP for Ellenbarrie Industrial Gases IPO stood at Rs 10. With the IPO upper price band set at Rs 400, the estimated listing price is projected to be Rs 410 per share. The latest GMP implies an expected listing gain of approximately 2.5% per share over the upper limit of the IPO price band.

Note: GMP does not represent official data and is based on speculation.

Ellenbarrie Industrial Gases Ltd. (EIGL) is a combination of a fresh issue of one crore shares, aggregating to Rs 400 crore, and an offer-for-sale (OFS) of 1.13 crore shares, aggregating to Rs 452.53 crore.

The price band for this IPO has been set at Rs 380 to Rs 400 per share.

For retail investors, the minimum lot size is 37 shares, requiring an investment of Rs 14,060 at the lower end of the price band. Small non-institutional investors can participate by investing in at least 14 lots (518 shares), amounting to Rs 2,07,200. Meanwhile, for big NIIs, the minimum investment is 68 lots (2,516 shares), totalling Rs 10,06,400.

Ellenbarrie Industrial Gases Ltd. has reserved up to 50% for QIBs, at least 35% for retail investors and a minimum of 15% for Non-Institutional Investors (NIIs).

Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd., and JM Financial Ltd. are serving as the book-running lead managers for the Ellenbarrie Industrial Gases IPO. Meanwhile, Kfin Technologies Ltd. has been appointed as the registrar for the offering.

Ellenbarrie Industrial Gases IPO will remain open for subscription till June 26.

The allotment of shares for the Ellenbarrie Industrial Gases IPO is expected to be finalised on Friday, June 27. Refunds and the transfer of shares to the Demat accounts are expected on June 30.

Ellenbarrie Industrial Gases IPO listing date has been scheduled for July 1. Shares of Ellenbarrie Industrial Gases Ltd. are scheduled to be listed on the NSE and BSE.

In FY25, Ellenbarrie Industrial Gases reported a 20% YoY increase in revenue at Rs 348.43 crore from Rs 290.20 crore in FY24. Its Profit After Tax jumped to Rs 83.29 crore in FY25, from Rs 45.29 crore in the preceding financial year, reflecting an 83% jump. 

Use of Proceeds

Ellenbarrie Industrial Gases plans to utilise the IPO proceeds for three main objectives. About Rs 210 crore will go toward the repayment or prepayment of certain outstanding borrowings. Nearly Rs 104 crore will be allocated for infrastructure upgrade at its Uluberia-II plant and the remaining funds will be used for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.