Ellenbarrie Industrial Gases IPO ends today: 55% subscription, GMP at 5%

Business Standard

26-06-2025

Ellenbarrie Industrial Gases IPO subscripion status: The initial public offering (IPO) of industrial, medical, and speciality gases supplier Ellenbarrie Industrial Gases has received muted demand among investors so far. The public offering has entered the final day of subscription; however, it is yet to get fully subscribed.
Ellenbarrie Industrial Gases IPO has received bids for 82,38,901 shares against 1,51,08,983 shares on offer till 10:15 AM on Thursday, June 26, 2025. This translates to a subscription of 55 per cent.
None of the individual categories has been fully subscribed yet. Non-Institutional Investors (NIIs) subscribed to the category reserved for them by 81 per cent, Qualified Institutional Buyers (QIBs) by 57 per cent, and retail investors at 42 per cent of the quota reserved for them.
Ellenbarrie Industrial Gases IPO details
The public offering of Ellenbarrie Industrial Gases comprises a fresh issue of 10 million equity shares and an offer for sale (OFS), with promoters Padam Kumar Agarwala and Varun Agarwal divesting up to 11.3 million equity shares.
Ellenbarrie Industrial Gases has set the price band for its IPO in the range of ₹380–400 per share, and the lot size is 37 shares.
A retail investor can bid for a minimum of one lot or 37 shares with an investment amount of ₹14,800. To bid for a maximum of 13 lots or 481 shares, a retail investor would require an investment amount of ₹1,92,400.
Ellenbarrie Industrial Gases IPO grey market premium (GMP) today
Despite the lacklustre response to the public offering, the unlisted shares of Ellenbarrie Industrial Gases were trading at a premium in the grey markets. Sources tracking unofficial market activity revealed that Ellenbarrie Industrial Gases shares were trading at ₹419 apiece, reflecting a grey market premium (GMP) of ₹19 or 4.75 per cent over the upper price band of ₹400.
Ellenbarrie Industrial Gases IPO review
Ellenbarrie Industrial Gases has received broadly favourable reviews for its public offering. Among the brokerages, SBI Securities has assigned a Subscribe rating on the Ellenbarrie Industrial Gases IPO, while Bajaj Broking has recommended investors to subscribe to the issue for the medium to long term.
Ellenbarrie Industrial Gases IPO allotment date, listing date
As the subscription window closes today, the basis of allotment of Ellenbarrie Industrial Gases IPO shares is likely to be finalised on Friday, June 28, 2025. The successful allottees will receive the company's shares into their demat accounts tentatively on Monday, June 30, 2025.
Ellenbarrie Industrial Gases shares are slated to list on the BSE and NSE on Monday, July 1, 2025.
Ellenbarrie Industrial Gases IPO objectives
Ellenbarrie Industrial Gases will not receive any proceeds from the OFS; the amount will be given to the selling promoters after deducting their proportion of offer expenses and relevant taxes.
Ellenbarrie Industrial Gases, however, plans to use the proceeds from the fresh issue for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company, as well as for setting up an air separation unit at the Uluberia-II plant with a capacity of 220 TPD. The company will further use the proceeds from the public offering for general corporate purposes.
Ellenbarrie Industrial Gases IPO registrar, BLRM details
KFin Technologies is the registrar for the issue, while Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book-running lead managers.
About Ellenbarrie Industrial Gases
Incorporated in 1973, Ellenbarrie Industrial Gases (EIGL) produces and supplies industrial, medical, and specialty gases. The company's product range includes oxygen, carbon dioxide, nitrogen, and other gases. EIGL serves various industries, including steel, pharmaceuticals, healthcare, and engineering. The company operates eight manufacturing facilities across India. EIGL supplied products to 1,829 customers in Fiscal 2025.