Ellenbarrie Industrial Gases, based in Kolkata, has announced a price band of Rs 380-400 per share for its upcoming initial public offering (IPO), which opens for subscription on June 24 and closes on June 26. Anchor bidding will commence on June 23. The allotment of shares is expected to be finalised by June 27, with trading on the stock exchanges set to begin from July 1.
The IPO consists of a fresh issue worth Rs 400 crore and an offer-for-sale (OFS) of 1.44 crore shares by promoters Padam Kumar Agarwala and Varun Agarwal. At the upper end of the price band, the OFS is estimated at approximately Rs 577 crore, taking the total issue size to around Rs 977 crore. The total mcap post listing will be around Rs 5638 crore.
Ellenbarrie Industrial Gases manufactures a diverse range of industrial gases, including oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, fire-fighting gases, and liquefied petroleum gas. Its products serve key sectors such as steel, pharmaceuticals, chemicals, healthcare, engineering, infrastructure, railways, aviation, aerospace, defence, and petrochemicals.
The company plans to utilise Rs 210 crore from the fresh issue proceeds to repay debt, while Rs 104.5 crore will be allocated for setting up a 220 TPD air separation unit at its Uluberia-II facility. As of April 2025, Ellenbarrie’s outstanding debt stood at Rs 264.2 crore. The IPO is being managed by Motilal Oswal Investment Advisors, IIFL Securities, and JM Financial.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
