Ellenbarrie Industrial Gases IPO: Price band set at ₹380-400 per share; check GMP, issue details, more

Ellenbarrie Industrial Gases IPO price band: The Ellenbarrie Industrial Gases Limited IPO price band has been fixed in the range of ₹380 to ₹400 per equity share of the face value of ₹2. The Ellenbarrie Industrial Gases IPO date of subscription is scheduled for Tuesday, June 24 and will close on Thursday, June 26. The allocation to anchor investors for the Ellenbarrie Industrial Gases IPO is scheduled to take place on Monday, June 23.

The floor price is 190 times the face value of the equity shares and the cap price is 200 times the face value of the equity shares. The Ellenbarrie Industrial Gases IPO lot size is 37 equity shares and in multiples of 37 equity shares thereafter.

Ellenbarrie Industrial Gases IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, Ellenbarrie Industrial Gases IPO basis of allotment of shares will be finalised on Friday, June 27 and the company will initiate refunds on Monday, June 30 while the shares will be credited to the demat account of allottees on the same day following refund. Ellenbarrie Industrial Gases share price is likely to be listed on BSE and NSE on Tuesday, July 1.

Ellenbarrie Industrial Gases is a company based in India that focuses on the manufacturing and distribution of industrial, medical, and specialty gases. The firm supplies critical gases including oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon, and nitrous oxide.

In addition to these, the company provides dry ice, synthetic air, fire-extinguishing gases, medical oxygen, liquefied petroleum gas (LPG), welding gas mixtures, and specialty gases, catering to diverse industries.

As per the red herring prospectus (RHP), the company's sole listed peer is Linde India Ltd (with a P/E of 140.74).

Ellenbarrie Industrial Gases IPO details

The IPO includes a fresh issue valued at ₹400 crore, along with an offer-for-sale (OFS) of 1.44 crore shares by promoters Padam Kumar Agarwala and Varun Agarwal. At the highest point of the price range, the OFS is projected to be around ₹577 crore, bringing the total size of the issue to nearly ₹977 crore.

The organization intends to use ₹210 crore from the proceeds of the fresh issue to reduce debt, while ₹104.5 crore is earmarked for the establishment of a 220 TPD air separation unit at its Uluberia-II site. As of April 2025, Ellenbarrie's total outstanding debt was ₹264.2 crore.

Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and Jm Financial Limited serve as the lead managers for the Ellenbarrie Industrial Gases IPO, with Kfin Technologies Limited acting as the registrar for this issue.

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