Ellenbarrie Industrial Gases Listing: After receiving strong investor interest, shares of Ellenbarrie Industrial Gases made a robust debut on Dalal Street on Tuesday, July 1. On the NSE, the stock listed at Rs 486, marking a 21.50 per cent premium over its issue price of Rs 400, while on the BSE, it listed at Rs 492 per share, translating to a 23 per cent premium.

Zee Business Managing Editor Anil Singhvi had earlier indicated a positive listing outlook for Ellenbarrie Industrial Gases, estimating a debut in the Rs 450–Rs 465 range, against the issue price of Rs 400. The price band for the IPO was fixed at Rs 380–Rs 400 per share.

He had advised investors to subscribe to the IPO for the long term and to hold the stock with a stop loss at the IPO price. Singhvi had also suggested that both short-term and long-term investors keep a stop loss slightly below Rs 400, in case of volatility.

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Ellenbarrie Industrial Gases IPO: Subscription status

Kolkata-based Ellenbarrie Industrial Gases Ltd’s initial public offering (IPO) saw robust investor interest, getting subscribed 22.19 times on the third and final day of bidding on Thursday. According to data from the National Stock Exchange (NSE), the Rs 852-crore IPO received bids for 33.52 crore shares against an offer size of 1.51 crore shares.

The non-institutional investor (NII) segment subscribed 15.21 times, while the retail individual investor (RII) portion was subscribed 2.14 times. Ahead of the public offering, the company had raised Rs 256 crore from anchor investors.

Also Read: Ellenbarrie Industrial Gases IPO: Subscription dates, price band, lot size, key details 

Ellenbarrie Industrial Gases: Use of IPO proceeds

Out of the total funds raised from the fresh issue, the company plans to use:

Rs 210 crore to repay existing debt

Rs 104.5 crore to set up a new air separation unit at its Uluberia-II plant in West Bengal

The remaining balance for general corporate purposes

What does Ellenbarrie Industrial Gases do?

Ellenbarrie Industrial Gases manufactures and supplies a wide range of industrial and speciality gases including:

• Dry ice
• Synthetic air
• Fire-fighting gases
• Medical oxygen
• Liquid petroleum gas (LPG)
• Welding mixtures
• Its products cater to multiple industries across India.

Financial performance

The company reported a strong performance in FY 2024–25. Revenue from operations rose 16 per cent to Rs 312.48 crore, up from Rs 269.48 crore in the previous year. Net profit saw a sharp 84 per cent jump, reaching Rs 83.29 crore compared to Rs 45.29 crore in FY 2023–24.