Ellenbarrie Industrial Gases hit the ground running with its IPO debut. The stock opened at ₹492 on the BSE, a solid 23% jump from its issue price of ₹400. Soon after, it surged even higher—touching ₹541.20. That’s a strong 34% premium.
By mid-day, more than 41 lakh shares had already been traded. Clearly, investors were excited. And for good reason.
What Made Ellenbarrie a Hot IPO Pick?
The IPO was subscribed 22.19 times—a clear sign of strong demand. It opened for bids on 24 June 2025 and closed on 26 June 2025. The price band was fixed at ₹380–₹400 per share.
Ahead of the IPO, the company raised ₹255.75 crore from 28 anchor investors. This early backing gave it a confident start.
Where’s the Money Going?
The fresh funds from the IPO will help the company grow faster. Here’s how:
- ₹210 crore will be used to repay borrowings.
- ₹104.5 crore will go towards setting up a new 220 TPD air separation unit at its Uluberia-II plant.
- The rest will be used for general corporate purposes.
The total cost of the new plant is ₹187.6 crore, and it is expected to be completed by October 2025.
As of April 30, 2025, the company had ₹264.21 crore in total borrowings. So this move will also help reduce its debt.
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Promoter Stakes and Market Confidence
Promoters Padam Kumar Agarwala and Varun Agarwala sold 1.13 crore shares through the offer for sale.
After the IPO, Padam’s stake dropped from 61.7% to 53.3%, and Varun’s from 25.3% to 19.5%. Even with the reduced holdings, their confidence in the business remains high.
About Ellenbarrie Industrial Gases
Founded in 1973, Ellenbarrie Industrial Gases is one of India’s top players in the industrial and medical gases sector.
It has 9 plants with a total capacity of 1,250 tonnes per day. The company serves key sectors like steel, healthcare, pharma, and defence.
In FY24, it reported a consolidated net profit of ₹83.28 crore on a total income of ₹312.48 crore.
Ellenbarrie Industrial Gases has made a loud and clear statement with its IPO debut. Strong investor demand, solid financials, and big plans for growth—this company is one to watch.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
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