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