Ellenbarrie Industrial Gases Ltd. raised Rs 255 crore from anchor investors on Monday ahead of the launch of its initial public offering. The company allotted 63 lakh shares at Rs 400 apiece to 28 anchor investors, according to an exchange filing.
Major investors comprise Ashoka WhiteOak ICA V - Ashoka WhiteOak Emerging Markets Equity Fund, Reliance AC. Reliance Power & Infra Fund, Axis Mutual Fund Trustee Ltd. - Axis Mutual Fund A/ Axis Small Cap Fund and more.
Ashoka WhiteOak netted 9.21% of the allocation, while Reliance and Axis Mutual Fund mopped up over 4% stake each.
The anchor book has received participation from eight domestic institutional investors through 16 different schemes. Domestic mutual funds mopped up a 57.75% stake in the anchor allocation.
About Ellenbarrie Industrial Gases
Ellenbarrie Industrial Gases is one of the largest 100% Indian-owned industrial gas companies in terms of installed manufacturing capacity, revenues and profitability.
The price band for the Ellenbarrie 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.
Ellenbarrie Industrial Gases IPO GMP Today
The grey market premium of the Ellenbarrie Industrial Gases IPO is Rs 7 as of 9:54 p.m., according to InvestorGain. This implies shares of the company will likely list at Rs 407 apiece, indicating a 1.75% 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.
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