 "Ellenbarrie Industrial shares list at 23% premium on BSE, top GMP trend")
Ellenbarrie Industrial Gases IPO listing: Ellenbarrie Industrial Gases made a strong stock market debut on Tuesday, July 1, 2025, listing at ₹492 per share on the BSE, registering a premium of ₹92 or 23 per cent over the issue price of ₹400. On the NSE, the stock opened at ₹486, also reflecting a premium of ₹86 or 21.5 per cent to the IPO price.
Ellenbarrie Industrial shares outperformed its grey market expectations.
Prior to the listing, the company’s shares were commanding a grey market premium (GMP) of ₹57, or 14.25 per cent, with unofficial trading quoting the stock at ₹457 apiece, according to market sources.
The ₹852.53 crore IPO comprised a fresh issue of 10 million shares aggregating to ₹400 crore and an offer for sale (OFS) of 11.3 million shares worth ₹452.53 crore. The IPO was open for bidding between June 24 and June 26, 2025, with allotment finalised on June 27.
The IPO price band was fixed at ₹400 per share. Retail investors were required to bid for a minimum of one lot (37 shares) worth ₹14,060. For small non-institutional investors (sNIIs), the minimum application was 14 lots (518 shares), amounting to ₹2,07,200, while for big non-institutional investors (bNIIs), it was 68 lots (2,516 shares), amounting to ₹10,06,400.
The company raised ₹255.76 crore from anchor investors ahead of the issue. Motilal Oswal Investment Advisors Limited was the book-running lead manager, and Kfin Technologies Limited acted as the registrar. ALSO READ | Globe Civil Projects IPO listing: Stock debuts at 28% premium on BSE
Proceeds from the issue will be used to strengthen Ellenbarrie Industrial’s financial and operational capabilities. Of the total, ₹210 crore will go toward partial or full repayment of outstanding borrowings, reducing leverage and improving the balance sheet. Another ₹104.5 crore is allocated for setting up a new 220 TPD air separation unit at the Uluberia-II plant. The rest of the proceeds will be used for general corporate purposes.
About Ellenbarrie Industrial Gases
Founded in 1973, Ellenbarrie Industrial Gases Ltd (EIGL) is a prominent Indian producer and supplier of industrial, medical, and specialty gases. Its portfolio includes oxygen, nitrogen, carbon dioxide, helium, hydrogen, argon, acetylene, nitrous oxide, LPG, welding gases, synthetic air, and dry ice.
The company serves bulk, packaged, and onsite customers across sectors like steel, pharma, healthcare, infrastructure, petrochemicals, railways, and defence.
It also offers turnkey project services for air separation units and provides medical gas pipeline systems and equipment such as ventilators and anesthesia workstations. As of FY25, the company had 1,829 customers and operated eight manufacturing facilities across West Bengal, Andhra Pradesh, Telangana, and Chhattisgarh. Its workforce included 281 permanent and 85 contractual employees as of March 31, 2025.