Ellenbarrie Industrial Gases IPO Closes Today: Check Subscription Status, GMP Today
The GMP of the Ellenbarrie Industrial Gases IPO currently stands at 4.75%, indicating flat listing or small gains for investors.
Ellenbarrie Industrial Gases IPO: The initial public offering (IPO) of Ellenbarrie Industrial Gases Ltd is going to be closed today, Thursday, June 26. The issue has received a muted response amid subdued GMP. Till 11:58 am on the final day of bidding on Thursday, the Rs 852.53-crore IPO received a 0.85 times subscription, garnering bids for 1,26,33,354 shares as against the 1,26,33,354 shares on offer.
The retail and NII participation stood at 0.58 times and 1.85 times, respectively. Its qualified institutional buyer (QIB) category got a 0.56 times subscription.
Ellenbarrie Industrial Gases IPO Lot Size & Price
Investors need to apply for a minimum of 37 shares or in multiple of that thereof.
The price band of the IPO is in the range of Rs 380 to Rs 400 per share.
Based on that, the minimum investment required to apply for the IPO is Rs 14,800.
Ellenbarrie Industrial Gases IPO Key Dates
The IPO was opened on June 24 and will be closed on June 26. Its allotment will be finalised on June 27, while listing will take place on both BSE and NSE on July 1.
According to market observers, the GMP of the IPO currently stands at 4.75%, indicating flat listing or small gains for investors.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
The initial public offer (IPO) is a combination of a fresh issue of shares worth Rs 400 crore and an offer for sale (OFS) of 1.13 crore shares valued at Rs 452.53 crore at the upper end of the price band by promoters – Padam Kumar Agarwala and Varun Agarwal. This aggregates the issue size to Rs 852.53 crore.
Proceeds from the fresh issue to the extent of Rs 210 crore will be used for payment of debt, Rs 104.50 crore to set up an air separation unit at its Uluberia-II plant in West Bengal, and a portion will be used for general corporate purposes.
Ellenbarrie Industrial Gases has raised Rs 256 crore from anchor investors.
Ellenbarrie manufactures and supplies industrial gases, dry ice, synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas, welding mixtures, and speciality gases catering to a wide range of industries.
The shares will be listed on the BSE and NSE.
Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book-running lead managers to the issue.
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