Ellenbarrie Industrial Gases IPO to hit primary market on June 24: From price band to lot size, key details to know

Ellenbarrie Industrial Gases IPO: Speciality gases maker Ellenbarrie Industrial Gases' initial public offering will hit Dalal Street on Tuesday, June 24. The IPO will conclude on June 26. The price band has been set at ₹380 to ₹400 per share.

The initial share sale consists of a fresh issuance of shares worth ₹400 crore and an offer for sale (OFS) of ₹452.53 crore. The total issue size is ₹852.53 crore.

Its basis of allotment will be finalised on June 27, while the listing on the stock exchanges – the NSE and the BSE – will take place on July 1.

The money raised will be used for the following objects

• Repay in full or in part for certain borrowings
• Establishing an air separation unit at the Uluberia-II plant
• General corporate purposes

The application size is 37 shares, and the bid amount is ₹14,800 at the upper end of the price band.

The company has reserved 50% of the net offer for qualified institutional buyers, 35% for retail individual investors and 15% for non-institutional investors.

IIFL Capital Services Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are the issue's book-running lead managers, while KFin Technologies Ltd is the registrar.

About the company

Ellenbarrie Industrial Gases is engaged in manufacturing and supplying industrial gases such as oxygen, acetylene, carbon dioxide, nitrogen, helium, argon, nitrous oxide and hydrogen, as well as dry ice, firefighting gases, synthetic air, medical oxygen, liquid petroleum gas, speciality gases, and welding mixture.

Its service offerings include project engineering services, where the firm leverages its extensive technical know-how from designing to commissioning of tonnage air separation units and related projects on a turnkey basis. It also provides turnkey solutions for medical gas pipeline systems.

The company has reported a revenue and net profit of ₹348.43 crore and ₹83.29 crore, respectively, for the financial year 2024-25.