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Ellenbarrie Industrial Gases IPO: Ellenbarrie Industrial Gases has set the price band for its maiden public issue in the range of ₹380 to ₹400 per equity share with a face value of ₹2. Ellenbarrie Industrial Gases IPO will open for public subscription on Tuesday, June 24, 2025, and will close on Thursday, June 26, 2025.
Ellenbarrie Industrial Gases IPO details
Ellenbarrie Industrial Gases IPO comprises a fresh issue of ₹400 crore, along with an offer for sale (OFS) of 11.3 million shares by promoters Padam Kumar Agarwala and Varun Agarwal. At the upper price band, the OFS is expected to be around ₹452.5 crore.
The basis of allotment of shares is expected to be finalised on Friday, June 27. Shares of Ellenbarrie Industrial Gases will be listed on both exchanges, the National Stock Exchange (NSE) and BSE, tentatively on Tuesday, July 1.
The company has reserved 50 per cent of the issue for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail individual investors.
Thus, investors can bid for a minimum of 37 shares of Ellenbarrie IPO and in multiples thereof. To bid for one lot or 37 shares, a retail investor would require a minimum of ₹14,800, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 13 lots or 481 shares, amounting to ₹1,92,400.
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Kfin Technologies is the registrar of the issue. Motilal Oswal Investment Advisors, IIFL Capital Advisors, and JM Financial are the book-running lead managers.
According to the red herring prospectus (RHP), from the net fresh issue proceeds, the company intends to utilise ₹210 crore for repayment/prepayment, in full or in part, of certain outstanding borrowings and ₹104.5 crore for setting up an air separation unit at its Uluberia-II plant with a capacity of 220 TPD. The remaining funds will be set aside for general corporate purposes.
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About Ellenbarrie Industrial Gases
Ellenbarrie Industrial Gases is a manufacturer and supplier of industrial gases including oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon and nitrous oxide, as well as dry ice. It also makes synthetic air, firefighting gases, medical oxygen, liquid petroleum gas, welding mixture and speciality gases catering to a wide range of end-use industries. It also offers various services including project engineering services, and medical gas pipeline systems.
In addition, the company supply products and medical equipment to healthcare facilities, which include anaesthesia
workstation, spirometers, ventilators, sterilizers, bedside monitors, and lung diffusion testing machines.
Ellenbarrie operates nine facilities across East, South and Central India, of which five facilities are located in West Bengal, two in Andhra Pradesh, one in Telangana and one in Chhattisgarh, as of March 31, 2025.
Ellenbarrie Industrial Gases financial snapshot
In the financial year 2024-25 (FY25), Ellenbarrie Industrial Gases reported revenue from operations of ₹312.4 crore, up 16 per cent from ₹269.4 crore in the previous fiscal. Its profit after tax (PAT) stood at ₹83.2 crore in FY25, an 83 per cent jump from ₹45.2 crore in FY24. Its earnings before interest, tax, depreciation and amortisation (Ebitda) rose 78.3 per cent from ₹61.5 crore in FY24 to ₹109.7 crore in FY25.
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