Ellenbarrie Industrial Gases Limited IPO has launched its much-awaited initial public offering (IPO), and it has already started gaining significant attention in the grey market. Investors looking for long-term value as well as listing gains are watching this IPO closely. In this article, we will provide a full overview of the Ellenbarrie Industrial Gases IPO, including the GMP trend, company background, financial performance, price band, lot size, and expert opinion for new and retail investors.
Company Overview
Founded in 1973, Ellenbarrie Industrial Gases is one of India’s oldest and most trusted producers and suppliers of industrial, medical, and specialty gases. The company is headquartered in Kolkata and has built a solid reputation over the decades. Ellenbarrie offers a wide range of gases including oxygen, nitrogen, helium, carbon dioxide, acetylene, hydrogen, argon, and nitrous oxide.
In addition to gas production, the company also supplies dry ice, fire-fighting gases, medical oxygen, LPG, and welding mixtures. Ellenbarrie also manufactures and distributes medical equipment like ventilators, anaesthesia machines, spirometers, and bedside monitors to hospitals and clinics. The company operates several manufacturing units and has over 300 employees including contractual staff, according to data from March 2024.
IPO Structure and Key Dates
The Ellenbarrie Industrial Gases IPO opens for subscription on June 24, 2025, and will close on June 26, 2025. The IPO consists of a fresh issue of ₹400 crore and an offer for sale of 1.13 crore equity shares, bringing the total issue size to ₹852.53 crore.
The price band is fixed at ₹380 to ₹400 per equity share with a face value of ₹2. The lot size for retail investors is 37 shares, which means the minimum investment required is around ₹14,800. The shares are expected to list on July 1, 2025, on both the NSE and BSE.
Grey Market Premium (GMP) Trend
The IPO’s grey market premium has been on a steady rise since it was announced. On June 24, the GMP was recorded at ₹8 per share. By June 25, it surged to ₹27 per share. This means the stock could list at a price of ₹427, which indicates a potential 6 to 7 percent listing gain over the upper price band of ₹400.
This rising GMP reflects growing demand among investors and a positive sentiment about the company’s listing prospects. However, investors are always advised to analyze fundamentals and not rely solely on GMP for decision-making.
Business Strengths
Ellenbarrie Industrial Gases has several business advantages:
- Diversified product line across industrial and medical sectors
- Strong manufacturing infrastructure with multiple plants
- Long-standing relationships with hospitals, refineries, and manufacturing units
- Ability to design and execute turnkey gas plant projects with in-house expertise
- Experience in supplying specialty gases for sensitive applications
These factors make the company well-positioned to capitalize on India’s rising demand for industrial and medical gases.
Financial Performance
The financial performance of Ellenbarrie Industrial Gases has been impressive in recent years.
- In FY24, the company reported revenue of ₹620 crore and profit of ₹91 crore, representing strong year-on-year growth.
- Its EBITDA margins remain healthy, showcasing operational efficiency.
- The company has shown consistent profitability and moderate debt levels.
The fresh issue proceeds will be used to expand manufacturing facilities, repay debts, and fund working capital requirements.
IPO Reservation and Listing Details
- Retail quota is capped at 35 percent
- Qualified Institutional Buyers (QIB) are allotted 50 percent
- Non-Institutional Investors (NII) receive the remaining 15 percent
The shares will be credited to Demat accounts by June 30, and refunds (if any) will be processed on the same day. Trading will commence on July 1, 2025.
Should You Invest?
Ellenbarrie’s IPO looks promising for both short-term and long-term investors. The company operates in a sector with growing demand, especially post-pandemic, with increased focus on healthcare and industrial infrastructure.
The GMP trend suggests decent listing gains, while the business fundamentals support stable long-term growth. However, investors should be mindful of certain risks like pricing pressure from competitors, regulatory challenges, and dependence on specific sectors like healthcare and oil.
FAQs – Ellenbarrie Industrial Gases IPO
Q1. What is the Ellenbarrie Industrial Gases IPO GMP today?
As of June 25, the GMP is ₹27 per share, suggesting a listing price of ₹427.
Q2. What is the IPO price band?
The IPO price band is ₹380 to ₹400 per share.
Q3. How much do I need to invest at minimum?
Retail investors need to apply for a lot of 37 shares, costing around ₹14,800.
Q4. When will the shares be listed?
Shares are expected to list on July 1, 2025, on both NSE and BSE.
Q5. Is Ellenbarrie a good IPO for listing gains?
Based on GMP and financials, the IPO shows potential for decent listing gains around 6–7 percent.
