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Economic Times
11 hours ago
- Business
- Economic Times
Ellenbarrie Industrial Gases IPO subscribed 2% so far on Day 1. Check what GMP indicates
Ellenbarrie Industrial Gases' IPO opened today, witnessing modest initial subscription rates of 2% overall, with retail investors at 2% and NIIs at 1%. The IPO includes a fresh issue and OFS, aiming to raise funds for debt repayment and expansion. SBI Securities recommends subscribing, highlighting the company's strong financials and strategic growth plans. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The initial public offering (IPO) of Ellenbarrie Industrial Gases, one of India's oldest industrial gas manufacturers, opened for subscription earlier today and has been subscribed by 2% so far on the first day of the bidding of 10:45 am, the issue had attracted only a 2% subscription from retail investors and 1% from non-institutional investors (NIIs). Meanwhile, the qualified institutional buyers had not made any for the grey market premium (GMP), the shares of Ellenbarrie Industrial Gases were trading higher by 1.75% or Rs 7-9 in the unlisted public issue includes a fresh equity issuance worth Rs 400 crore along with an offer for sale (OFS) of 1.13 crore shares. Ahead of the launch, the company successfully secured Rs 256 crore from anchor price band has been set at Rs 380 to Rs 400 per share, with a minimum application size of 37 shares. The shares are proposed to be listed on both the NSE and IPO proceeds will be utilised to repay debt amounting to Rs 210 crore, establish a 220 TPD air separation unit at the company's Uluberia-II plant at a cost of Rs 104.5 crore, and meet general corporate requirements. Eastern India Gases Ltd (EIGL) also plans to commission three new plants by FY26, aiming to increase its total installed capacity from 3,861 TPD to 4,551 read: Eclectic mix of sectoral options drives IPO momentum: Sonia Dasgupta, JM Financial Founded over five decades ago, EIGL manufactures and supplies a wide range of industrial gases such as oxygen, nitrogen, argon, and acetylene, along with specialty gases, medical gases, and cryogenic storage systems. It operates nine facilities across East, South, and Central India, servicing industries like steel, pharmaceuticals, defence, healthcare, and company reported a 26.7% PAT margin in FY25 with net profit of Rs 83.3 crore, EBITDA margin of 35.8%, and return on equity of 16.9%. At the upper end of the price band, the stock is valued at 62.9x FY25 Securities has rated the IPO as Subscribe citing EIGL's improving margin profile, strong client base, strategic capacity expansion, and attractive valuation compared to listed peers like Linde India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
11 hours ago
- Business
- Time of India
Ellenbarrie Industrial Gases IPO subscribed 2% so far on Day 1. Check what GMP indicates
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering (IPO) of Ellenbarrie Industrial Gases, one of India's oldest industrial gas manufacturers, opened for subscription earlier today and has been subscribed by 2% so far on the first day of the bidding of 10:45 am, the issue had attracted only a 2% subscription from retail investors and 1% from non-institutional investors (NIIs). Meanwhile, the qualified institutional buyers had not made any for the grey market premium (GMP), the shares of Ellenbarrie Industrial Gases were trading higher by 1.75% or Rs 7-9 in the unlisted public issue includes a fresh equity issuance worth Rs 400 crore along with an offer for sale (OFS) of 1.13 crore shares. Ahead of the launch, the company successfully secured Rs 256 crore from anchor price band has been set at Rs 380 to Rs 400 per share, with a minimum application size of 37 shares. The shares are proposed to be listed on both the NSE and IPO proceeds will be utilised to repay debt amounting to Rs 210 crore, establish a 220 TPD air separation unit at the company's Uluberia-II plant at a cost of Rs 104.5 crore, and meet general corporate requirements. Eastern India Gases Ltd (EIGL) also plans to commission three new plants by FY26, aiming to increase its total installed capacity from 3,861 TPD to 4,551 read: Eclectic mix of sectoral options drives IPO momentum: Sonia Dasgupta, JM Financial Founded over five decades ago, EIGL manufactures and supplies a wide range of industrial gases such as oxygen, nitrogen, argon, and acetylene, along with specialty gases, medical gases, and cryogenic storage systems. It operates nine facilities across East, South, and Central India, servicing industries like steel, pharmaceuticals, defence, healthcare, and company reported a 26.7% PAT margin in FY25 with net profit of Rs 83.3 crore, EBITDA margin of 35.8%, and return on equity of 16.9%. At the upper end of the price band, the stock is valued at 62.9x FY25 Securities has rated the IPO as Subscribe citing EIGL's improving margin profile, strong client base, strategic capacity expansion, and attractive valuation compared to listed peers like Linde India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
15 hours ago
- Business
- Time of India
Ellenbarrie Industrial IPO opens for subscription. Should you bid?
The price band is fixed at Rs 380–400 per share with a minimum lot size of 37 shares. The listing is proposed on both NSE and BSE. Ellenbarrie Industrial Gases, a Kolkata-based industrial gas manufacturer, is launching its Rs 852.5 crore IPO on June 24, with a price band of Rs 380-400 per share. The IPO includes a fresh issue and an offer for sale, aiming to repay debt and expand capacity. SBI Securities recommends subscribing, citing the company's strong financials and strategic growth plans. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Should you subscribe? Kolkata-based Ellenbarrie Industrial Gases (EIGL), one of India's oldest industrial gas manufacturers, is set to open its Rs 852.5 crore IPO on June 24 and close on June 26. Ahead of the issue opening, the company's GMP is around Rs public issue comprises a fresh issue of Rs 400 crore and an offer for sale (OFS) of 1.13 crore equity shares. The company has already raised Rs 256 crore from anchor investors ahead of the price band is fixed at Rs 380–400 per share with a minimum lot size of 37 shares. The listing is proposed on both NSE and over five decades ago, EIGL manufactures and supplies a wide range of industrial gases such as oxygen, nitrogen, argon, and acetylene, along with specialty gases, medical gases, and cryogenic storage systems. It operates nine facilities across East, South, and Central India, servicing industries like steel, pharmaceuticals, defence, healthcare, and IPO proceeds will be used to repay debt (Rs 210 crore), set up a 220 TPD air separation unit at its Uluberia-II plant (Rs 104.5 crore), and for general corporate purposes. With plans to commission three new plants by FY26, EIGL expects to boost its total installed capacity from 3,861 TPD to 4,551 company reported a 26.7% PAT margin in FY25 with net profit of Rs 83.3 crore, EBITDA margin of 35.8%, and return on equity of 16.9%. At the upper end of the price band, the stock is valued at 62.9x FY25 Securities has rated the IPO as Subscribe citing EIGL's improving margin profile, strong client base, strategic capacity expansion, and attractive valuation compared to listed peers like Linde India. KFin Technologies is the registrar, while Motilal Oswal, JM Financial , and IIFL Capital are the book running lead managers.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
