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Ellenbarrie, Globe Civil shine on debut; Kalpataru, Raymond subdued
Ellenbarrie, Globe Civil shine on debut; Kalpataru, Raymond subdued

Business Standard

time2 days ago

  • Business
  • Business Standard

Ellenbarrie, Globe Civil shine on debut; Kalpataru, Raymond subdued

Ellenbarrie Industrial Gases (EIGL), an industrial gas manufacturer, and EPC firm Globe Civil Projects (GCPL) saw their market value surge more than 30 per cent during their trading debut on Tuesday. Shares of EIGL ended at Rs 541, up Rs 141, or 35 per cent, over its issue price of Rs 400. Meanwhile, GCPL shares ended at Rs 95, up Rs 24, or 33 per cent, over its issue price of Rs 71. The IPOs of EIGL and GCPL were subscribed 22x and 81x, respectively. The market also witnessed the listing of two Mumbai-based real estate firms, Kalpataru and Raymond Realty, both focusing on projects in the Mumbai Metropolitan Region (MMR). Shares of Kalpataru ended with modest gains of 5 per cent to end at Rs 434, valuing it at Rs 8,933 crore. Kalpataru raised Rs 1,590 crore from its IPO, which saw a 2.3 times subscription. Meanwhile, Raymond Realty's listing follows a demerger scheme from its parent company, Raymond. Shares of Raymond Realty ended at Rs 963, giving it a market value of Rs 6,408 crore. In a recent note, SBI Securities noted, 'Assuming EBITDA growth of 10 per cent year-on-year in FY26 and EV/EBITDA multiple of 13x (discount of 24 per cent to its closely listed peers), the fair value of the business comes to Rs 1,148. Post listing, Street will closely track key performance indicators (pre-sales, embedded EBITDA margins, cash inflows/outflows, debt) of the company.' A note by Deven Choksey Research said Kalpataru trades at about 187 times its FY25 annualised EBITDA 'which appears expensive compared to a broad set of listed peers operating in the mid-to-high-end real estate segment.' A note by Indsec Research said Kalpataru is valued at an EV/pre-sales of 5x on an FY25 annualised basis versus peers' group average at 5.5x.

Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut
Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut

Economic Times

time2 days ago

  • Business
  • Economic Times

Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut

Ellenbarrie Industrial Gases, Kolkata based company, will list on BSE and NSE on Tuesday. The IPO saw great response and was subscribed 22.19 times. Ellenbarrie Industrial Gases is set to debut on the BSE and NSE with a promising premium, fueled by strong IPO subscription and grey market sentiment. The IPO, oversubscribed 22.19 times, saw significant interest from QIBs and NIIs. EIGL intends to utilize the IPO proceeds for debt reduction and expansion, supported by robust financial growth and a diverse clientele. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Kolkata-based industrial gas supplier Ellenbarrie Industrial Gases is set to list on the BSE and NSE on Tuesday after receiving a stellar response to its Rs 853 crore IPO. The IPO is expected to debut with a healthy premium, backed by a grey market premium (GMP) of Rs 57 per share over the issue price of Rs issue, a mix of fresh equity worth Rs 400 crore and an offer for sale of Rs 452.53 crore, was subscribed an impressive 22.19 times overall. The demand was driven by Qualified Institutional Buyers (QIBs), who bid 64.23 times their quota, while non-institutional investors (NIIs) followed at 15.21 times. The retail portion saw 2.14 times subscription, reflecting solid interest despite a relatively high ticket plans to use the IPO proceeds for debt repayment, setting up a 220 TPD air separation unit at its Uluberia-II plant, and general corporate purposes. The company had also raised Rs 255.76 crore from anchor investors on June 23, with a strong institutional book including domestic mutual funds and insurance in 1973, Ellenbarrie manufactures and supplies industrial, medical, and specialty gases such as oxygen, nitrogen, helium, argon, and carbon caters to sectors including steel, healthcare, pharmaceuticals, petrochemicals, defence, and railways. With eight production facilities and a customer base of over 1,800 clients, EIGL is considered a key player in India's industrial gas company has shown robust financial growth, with FY25 profit after tax rising 84% year-on-year to Rs 83.29 crore, and revenue up by 20% to Rs 348.43 the stock is seen as aggressively priced with a P/E multiple of 67.69x, analysts remain optimistic about its long-term prospects given its sticky clientele, niche product mix, and consistent margin profile. The market capitalization at listing is estimated at over Rs 5,637 a solid subscription book and positive grey market sentiment, Ellenbarrie is likely to see a strong listing, though broader market cues and institutional follow-through will determine its sustainability post-debut.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut
Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut

Time of India

time2 days ago

  • Business
  • Time of India

Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut

Kolkata-based industrial gas supplier Ellenbarrie Industrial Gases is set to list on the BSE and NSE on Tuesday after receiving a stellar response to its Rs 853 crore IPO. The IPO is expected to debut with a healthy premium, backed by a grey market premium (GMP) of Rs 57 per share over the issue price of Rs 400. The issue, a mix of fresh equity worth Rs 400 crore and an offer for sale of Rs 452.53 crore, was subscribed an impressive 22.19 times overall. The demand was driven by Qualified Institutional Buyers (QIBs), who bid 64.23 times their quota, while non-institutional investors (NIIs) followed at 15.21 times. The retail portion saw 2.14 times subscription, reflecting solid interest despite a relatively high ticket size. EIGL plans to use the IPO proceeds for debt repayment, setting up a 220 TPD air separation unit at its Uluberia-II plant, and general corporate purposes. The company had also raised Rs 255.76 crore from anchor investors on June 23, with a strong institutional book including domestic mutual funds and insurance players. Founded in 1973, Ellenbarrie manufactures and supplies industrial, medical, and specialty gases such as oxygen, nitrogen, helium, argon, and carbon dioxide. It caters to sectors including steel, healthcare, pharmaceuticals, petrochemicals, defence, and railways. With eight production facilities and a customer base of over 1,800 clients, EIGL is considered a key player in India's industrial gas ecosystem. Live Events The company has shown robust financial growth, with FY25 profit after tax rising 84% year-on-year to Rs 83.29 crore, and revenue up by 20% to Rs 348.43 crore. While the stock is seen as aggressively priced with a P/E multiple of 67.69x, analysts remain optimistic about its long-term prospects given its sticky clientele, niche product mix, and consistent margin profile. The market capitalization at listing is estimated at over Rs 5,637 crore. With a solid subscription book and positive grey market sentiment, Ellenbarrie is likely to see a strong listing, though broader market cues and institutional follow-through will determine its sustainability post-debut. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Ellenbarrie Industrial Gases IPO GMP drops to 5%; issue subscribed 52% on Day 3
Ellenbarrie Industrial Gases IPO GMP drops to 5%; issue subscribed 52% on Day 3

Time of India

time7 days ago

  • Business
  • Time of India

Ellenbarrie Industrial Gases IPO GMP drops to 5%; issue subscribed 52% on Day 3

The initial public offering (IPO) of Ellenbarrie Industrial Gases was subscribed 52% as of the third and final day of bidding on Thursday, up from 31% on Day 2. As of 10:05 am, the IPO had received bids for 79.18 lakh shares against the total issue size of 1.51 crore shares. The retail investor portion was subscribed 39%, the non-institutional investor (NII) segment 77%, and the qualified institutional buyer (QIB) category 57%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo In the grey market, the shares were trading at a premium of Rs 18–19, down from Rs 25–26 on Day 2. This implies a decline in the grey market premium (GMP) to around 5% from 6%. Also Read: HDB Financial Services IPO: Should you subscribe? Here's what brokerages say Ellenbarrie IPO details The public issue includes a fresh equity issuance worth Rs 400 crore along with an offer for sale (OFS) of 1.13 crore shares. Ahead of the launch, the company successfully secured Rs 256 crore from anchor investors. Live Events The price band has been set at Rs 380 to Rs 400 per share, with a minimum application size of 37 shares. The shares are proposed to be listed on both the NSE and BSE. The IPO proceeds will be utilised to repay debt amounting to Rs 210 crore, establish a 220 TPD air separation unit at the company's Uluberia-II plant at a cost of Rs 104.5 crore, and meet general corporate requirements. Eastern India Gases Ltd (EIGL) also plans to commission three new plants by FY26, aiming to increase its total installed capacity from 3,861 TPD to 4,551 TPD. Also Read: These 10 multibagger penny stocks surged 200-570% in last 1 year. Do you own any? About Ellenbarrie Industrial Gases Founded over five decades ago, EIGL manufactures and supplies a wide range of industrial gases such as oxygen, nitrogen, argon, and acetylene, along with specialty gases, medical gases, and cryogenic storage systems. It operates nine facilities across East, South, and Central India, servicing industries like steel, pharmaceuticals, defence, healthcare, and railways. The company reported a 26.7% PAT margin in FY25 with net profit of Rs 83.3 crore, EBITDA margin of 35.8%, and return on equity of 16.9%. At the upper end of the price band, the stock is valued at 62.9x FY25 earnings. Should you subscribe to the Ellenbarrie Industrial Gases IPO? SBI Securities has rated the IPO as Subscribe citing EIGL's improving margin profile, strong client base, strategic capacity expansion , and attractive valuation compared to listed peers like Linde India. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Ellenbarrie Industrial Gases IPO GMP drops to 5%; issue subscribed 52% on Day 3
Ellenbarrie Industrial Gases IPO GMP drops to 5%; issue subscribed 52% on Day 3

Economic Times

time7 days ago

  • Business
  • Economic Times

Ellenbarrie Industrial Gases IPO GMP drops to 5%; issue subscribed 52% on Day 3

Ellenbarrie Industrial Gases' IPO saw 52% subscription on its final day, driven by NII and QIB interest, though grey market premium dipped. The IPO aims to raise ₹400 crore through fresh equity and an OFS, planning debt repayment and capacity expansion. SBI Securities recommends subscribing, citing strong financials and attractive valuation compared to peers. Tired of too many ads? Remove Ads Ellenbarrie IPO details Tired of too many ads? Remove Ads About Ellenbarrie Industrial Gases Should you subscribe to the Ellenbarrie Industrial Gases IPO? The initial public offering (IPO) of Ellenbarrie Industrial Gases was subscribed 52% as of the third and final day of bidding on Thursday, up from 31% on Day of 10:05 am, the IPO had received bids for 79.18 lakh shares against the total issue size of 1.51 crore shares. The retail investor portion was subscribed 39%, the non-institutional investor (NII) segment 77%, and the qualified institutional buyer (QIB) category 57%.In the grey market, the shares were trading at a premium of Rs 18–19, down from Rs 25–26 on Day 2. This implies a decline in the grey market premium (GMP) to around 5% from 6%.The public issue includes a fresh equity issuance worth Rs 400 crore along with an offer for sale (OFS) of 1.13 crore shares. Ahead of the launch, the company successfully secured Rs 256 crore from anchor price band has been set at Rs 380 to Rs 400 per share, with a minimum application size of 37 shares. The shares are proposed to be listed on both the NSE and IPO proceeds will be utilised to repay debt amounting to Rs 210 crore, establish a 220 TPD air separation unit at the company's Uluberia-II plant at a cost of Rs 104.5 crore, and meet general corporate requirements. Eastern India Gases Ltd (EIGL) also plans to commission three new plants by FY26, aiming to increase its total installed capacity from 3,861 TPD to 4,551 over five decades ago, EIGL manufactures and supplies a wide range of industrial gases such as oxygen, nitrogen, argon, and acetylene, along with specialty gases, medical gases, and cryogenic storage systems. It operates nine facilities across East, South, and Central India, servicing industries like steel, pharmaceuticals, defence, healthcare, and company reported a 26.7% PAT margin in FY25 with net profit of Rs 83.3 crore, EBITDA margin of 35.8%, and return on equity of 16.9%. At the upper end of the price band, the stock is valued at 62.9x FY25 Securities has rated the IPO as Subscribe citing EIGL's improving margin profile, strong client base, strategic capacity expansion , and attractive valuation compared to listed peers like Linde India.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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