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Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?
Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?

Economic Times

time01-07-2025

  • Business
  • Economic Times

Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?

Ellenbarrie Industrial shares: The Kolkata-based firm, engaged in the production and supply of industrial, medical, and specialty gases, made its market debut at Rs 492 on the BSE—23% above its IPO issue price of Rs 400. On the NSE, the stock opened at Rs 486, marking a 21.5% premium. Both listings exceeded the grey market premium estimate of Rs 457. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Market cheers financial strength Risks and valuation concerns Use of proceeds and expansion plans Shares of Ellenbarrie Industrial Gases surged 10% on Tuesday following their market debut, trading at Rs 541.20 on the BSE and Rs 534.60 on the NSE. The stock listed at a sharp premium that outpaced even the most optimistic grey market Kolkata-based company, which manufactures and supplies industrial, medical, and specialty gases, listed at Rs 492 on the BSE, at a 23% premium over the IPO issue price of Rs 400. On the NSE, the shares debuted at Rs 486, reflecting a premium of 21.5%. Both figures topped the grey market premium estimate of Rs Rs 852 crore initial public offering, comprising a fresh issue of Rs 400 crore and an offer for sale of Rs 452.53 crore, drew significant investor interest, with an overall subscription of 22.19 times. According to NSE data, the IPO received bids for 33.52 crore shares against 1.51 crore shares on investors led the charge, with Qualified Institutional Buyers (QIBs) subscribing 64.23 times their quota, while the non-institutional investor segment was subscribed 15.21 times. The retail category also showed solid interest, subscribed 2.14 times despite the relatively high ticket investors committed Rs 255.76 crore on June 23, with the book anchored by domestic mutual funds and insurance appetite appears driven by Ellenbarrie's strong financials. The company posted an 84% year-on-year jump in profit after tax to Rs 83.29 crore for FY25, with revenue rising 20% to Rs 348.43 crore. The company also boasts EBITDA and net profit margins of 36% and 27% respectively, considered among the highest in the sector. Ellenbarrie Industrial Gases made an emphatic debut on the bourses, listing at over Rs 500 — a solid 30% premium to its issue price,' said Harshal Dasani, Business Head at INVasset PMS. 'As one of India's oldest industrial gas manufacturers, with a 50+ year legacy and nine operational facilities across southern and eastern India, the company commands a strong presence in oxygen, nitrogen, acetylene, and argon production."Despite the stellar debut, analysts caution against overexuberance. 'At listing, the stock trades at ~80x FY25 earnings, which is steep on the face of it. But valuation is often contextual,' Dasani said, noting that Ellenbarrie's high margins help support the the company's concentrated regional footprint and dependence on cyclical industries like steel and healthcare raise questions. 'Over 85% of Ellenbarrie's business comes from repeat bulk buyers — which ensures customer loyalty but also heightens dependence. Any slowdown in steel demand or medical oxygen off-take could sharply affect revenue,' Dasani intends to use the IPO proceeds to repay debt, fund a 220 TPD air separation unit at its Uluberia-II plant, and for general corporate purposes. Founded in 1973, the company currently serves more than 1,800 clients across steel, pharmaceuticals, petrochemicals, defence, and railways from its eight production a robust debut behind it, investor focus will now shift to whether Ellenbarrie can deliver consistent performance and scale beyond its current regional strongholds. 'The listing premium reflects investor belief in the company's profitability and positioning — but maintaining that confidence will hinge on steady performance in a capital-intensive, demand-sensitive industry,' Dasani said.(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 shares soar 10% after listing debut. Should you buy, sell or hold?
Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?

Time of India

time01-07-2025

  • Business
  • Time of India

Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?

Ellenbarrie Industrial shares: The Kolkata-based firm, engaged in the production and supply of industrial, medical, and specialty gases, made its market debut at Rs 492 on the BSE—23% above its IPO issue price of Rs 400. On the NSE, the stock opened at Rs 486, marking a 21.5% premium. Both listings exceeded the grey market premium estimate of Rs 457. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Market cheers financial strength Risks and valuation concerns Use of proceeds and expansion plans Shares of Ellenbarrie Industrial Gases surged 10% on Tuesday following their market debut, trading at Rs 541.20 on the BSE and Rs 534.60 on the NSE. The stock listed at a sharp premium that outpaced even the most optimistic grey market Kolkata-based company, which manufactures and supplies industrial, medical, and specialty gases, listed at Rs 492 on the BSE, at a 23% premium over the IPO issue price of Rs 400. On the NSE, the shares debuted at Rs 486, reflecting a premium of 21.5%. Both figures topped the grey market premium estimate of Rs Rs 852 crore initial public offering, comprising a fresh issue of Rs 400 crore and an offer for sale of Rs 452.53 crore, drew significant investor interest, with an overall subscription of 22.19 times. According to NSE data, the IPO received bids for 33.52 crore shares against 1.51 crore shares on investors led the charge, with Qualified Institutional Buyers (QIBs) subscribing 64.23 times their quota, while the non-institutional investor segment was subscribed 15.21 times. The retail category also showed solid interest, subscribed 2.14 times despite the relatively high ticket investors committed Rs 255.76 crore on June 23, with the book anchored by domestic mutual funds and insurance appetite appears driven by Ellenbarrie's strong financials. The company posted an 84% year-on-year jump in profit after tax to Rs 83.29 crore for FY25, with revenue rising 20% to Rs 348.43 crore. The company also boasts EBITDA and net profit margins of 36% and 27% respectively, considered among the highest in the sector. Ellenbarrie Industrial Gases made an emphatic debut on the bourses, listing at over Rs 500 — a solid 30% premium to its issue price,' said Harshal Dasani, Business Head at INVasset PMS. 'As one of India's oldest industrial gas manufacturers, with a 50+ year legacy and nine operational facilities across southern and eastern India, the company commands a strong presence in oxygen, nitrogen, acetylene, and argon production."Despite the stellar debut, analysts caution against overexuberance. 'At listing, the stock trades at ~80x FY25 earnings, which is steep on the face of it. But valuation is often contextual,' Dasani said, noting that Ellenbarrie's high margins help support the the company's concentrated regional footprint and dependence on cyclical industries like steel and healthcare raise questions. 'Over 85% of Ellenbarrie's business comes from repeat bulk buyers — which ensures customer loyalty but also heightens dependence. Any slowdown in steel demand or medical oxygen off-take could sharply affect revenue,' Dasani intends to use the IPO proceeds to repay debt, fund a 220 TPD air separation unit at its Uluberia-II plant, and for general corporate purposes. Founded in 1973, the company currently serves more than 1,800 clients across steel, pharmaceuticals, petrochemicals, defence, and railways from its eight production a robust debut behind it, investor focus will now shift to whether Ellenbarrie can deliver consistent performance and scale beyond its current regional strongholds. 'The listing premium reflects investor belief in the company's profitability and positioning — but maintaining that confidence will hinge on steady performance in a capital-intensive, demand-sensitive industry,' Dasani said.(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 set for listing today. GMP hints at robust debut
Ellenbarrie Industrial Gases set for listing today. GMP hints at robust debut

Economic Times

time01-07-2025

  • 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

time01-07-2025

  • 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 listing tomorrow: Here's what GMP, subscription status, hint ahead of debut
Ellenbarrie Industrial Gases IPO listing tomorrow: Here's what GMP, subscription status, hint ahead of debut

Mint

time30-06-2025

  • Business
  • Mint

Ellenbarrie Industrial Gases IPO listing tomorrow: Here's what GMP, subscription status, hint ahead of debut

Ellenbarrie Industrial Gases IPO listing date has been scheduled for tomorrow (Tuesday, July 1). Ellenbarrie Industrial Gases IPO allotment was finalised on Friday, June 27. For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Monday, June 30. The process of refunding those who have not yet received their shares will likewise be finished today. The initial public offer of Ellenbarrie Industrial Gases opened on Tuesday, June 24, and ended on Thursday, June 26. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 15.21 times, followed by retail investors showed a subscription rate of 2.14 times. Qualified institutional buyers (QIBs) was booked 64.23 times. Notably, on the third day of the IPO, the Ellenbarrie Industrial Gases IPO subscription status stood at 22.19 times. Ellenbarrie produces and provides industrial gases, dry ice, synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas, welding mixtures, and specialty gases to serve a variety of industries. Ellenbarrie Industrial Gases IPO price band has been fixed in the range of ₹ 380 to ₹ 400 per equity share of the face value of ₹ 2. Ellenbarrie Industrial Gases share price will be listed on BSE and NSE on Tuesday, July 1. Let's check what does Ellenbarrie Industrial Gases IPO GMP today signal ahead of listing. Ellenbarrie Industrial Gases IPO GMP today is +56. This indicates Ellenbarrie Industrial Gases share price was trading at a premium of ₹ 56 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ellenbarrie Industrial Gases share price is indicated at ₹ 456 apiece, which is 14% higher than the IPO price of ₹ 400. According to the grey market activities observed over the past 18 sessions, the IPO GMP is currently on an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹ 0.00, while the maximum GMP reaches ₹ 58, as stated by experts at 'Grey market premium' indicates investors' readiness to pay more than the issue price. The initial public offering (IPO) comprises a fresh issue worth ₹ 400 crore, alongside an offer-for-sale (OFS) of 1.44 crore shares from promoters Padam Kumar Agarwala and Varun Agarwal. At the upper end of the price spectrum, the OFS is estimated to reach approximately ₹ 577 crore, resulting in a total issue size of nearly ₹ 977 crore. The company plans to allocate ₹ 210 crore from the proceeds of the fresh issue to pay down debt, while ₹ 104.5 crore is designated for setting up a 220 TPD air separation unit at its Uluberia-II location. As of April 2025, Ellenbarrie's overall outstanding debt stood at ₹ 264.2 crore. Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and JM Financial Limited are the lead managers for the Ellenbarrie Industrial Gases IPO, with Kfin Technologies Limited serving as the registrar for this offering. Ellenbarrie Industrial Gases IPO details Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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