Ellenbarrie Industrial Gases IPO: Price Band, Financials, Key Dates, GMP — All You Need To Know
The proposed IPO will have both fresh issue and offer for sale of up to aggregating to Rs 852.53 crore.
The initial public offering of Ellenbarrie Industrial Gases Ltd. will open on June 24 and close on June 26. The price band for the IPO is set at Rs 380 to Rs 400.
The proposed IPO will have both a fresh issue and an offer for sale of up to Rs 852.53 crore. This will be a fresh issue of Rs 400 crores and an offer for sale for Rs 452.53 crores. Bids can be made for a minimum of 37 shares and then in multiples thereof.
Motilal Oswal Investment Advisors Ltd., IIFL Securities and JM Financial Ltd are the book-running lead managers for the public issue. KFin Technologies.
IPO Details
Issue opens: June 24.
Issue closes: June 26.
Issue price: Rs 380-Rs 400.
Fresh issue: Rs 400 crore.
Offer for Sale: Rs 452.53 crore.
Lot size: Minimum 37 shares, and then in multiples thereof.
Market value at the upper end of the price band: Rs 3,408 crore.
ALSO READ
IPOs This Week: 6 Mainboard, 11 SME Issues To Raise Over Rs 15,800 Crore In The Next Five Days
Business
Ellenbarrie Industrial Gases is one of the largest 100% Indian-owned industrial gas companies in terms of installed manufacturing capacity, revenues and profitability. It is also one of the oldest operating industrial gas companies in India, with a legacy of over 50 years.
The company manufactures and supplies industrial gases, including oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon and nitrous oxide, as well as dry ice, synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas, welding mixture and speciality gases catering to a wide range of end-use industries.
The company's service offerings include project engineering services, where we leverage our extensive technical know-how for the design, engineering, supply, installation and commissioning of tonnage air separation units and related projects on a turnkey basis for customers across several sectors.
Use Of Proceeds
The company will not receive any proceeds from the Offer for Sale. Proceeds from the fresh issue will be used for the repayment or prepayment of certain outstanding borrowings availed.
It will also be used in setting up an air separation unit at the Uluberia-II plant with a capacity of 220 TPD. Finally, its funds will also be used for general corporate purposes.
Financial Performance
The company reported revenue from operations at Rs 269.47 crore in the financial year ending in 2024, up from Rs 205.10 crore in the previous fiscal year.
Net profit stood at Rs 45.28 crore, seeing an uptick from Rs 28.14 crore in the last fiscal. The company reported an EBITDA of Rs 61.50 crore in the same period.
Key Risks
Dependence on relationships with customers and the loss of one or more of our key customers, or the deterioration of their financial condition or prospects, or a reduction in their demand for products, could adversely affect our business, results of operations, cash flows and financial condition.
Dependent on facilities. Any unscheduled, unplanned or prolonged disruption of our facilities could adversely affect our business, results of operations, cash flows and financial condition.
Ellenbarrie Industrial Gases IPO GMP
The grey market premium of the Ellenbarrie Industrial Gases IPO is Rs 12 as of 7:00 p.m., according to InvestorGain. This implies shares of the company will likely list at Rs 412 apiece, indicating a 3% premium to the upper end of the price band.
It should be noted that GMP, or grey market price, is not an official price quote for the stock and is based on speculation.
