Ellenbarrie Industrial Gases shares make debut at 21.5% premium; here’s how much investors gained after listing

Shares of Ellenbarrie Industrial Gases made a stellar trading debut, listing at 21.5% premium over the issue price on the National Stock Exchange of India (NSE).

Ellenbarrie Industrial Gases stock opened for trading at ₹486 per share on NSE compared to IPO issue price of ₹400 per share. The stock also made its debut at a premium of 23% at ₹492 on the BSE.

The company's shares gained 10% further after listing to hit the upper circuit at ₹534.6 per share on the NSE.

More than 1.29 crore shares of the company changed hands on the platform in the first 10 minutes of trade. The traded value was ₹650.77 crore, and the market capitalisation stood at ₹7,534 crore.

Ellenbarrie Industrial Gases shares opened the trading session at a price of ₹486 apiece on the NSE, compared to its IPO price of ₹400 apiece. This means a straight profit of ₹86 on a single share of the company that was allotted in the primary issue. However, since the lot size, or the minimum bid quantity, to apply for the Ellenbarrie Industrial Gases IPO was 37 shares, it translates into listing gains of ₹3,182 (₹86 x 37) per lot.

Hence, retail investors would be sitting on listing gains of at least ₹3,182 as soon as the Ellenbarrie Industrial Gases stock started trading on exchanges.

The ₹852.5-crore Ellenbarrie Industrial Gases IPO was subscribed more than 22 times during its three-day bidding period from June 24 to June 26. The retail portion was subscribed 2.1 times, while the NII category was overbooked 15.2 times. The qualified institutional buyers (QIB) portion was overbid 64.2 times.

Ellenbarrie Industrial Gases IPO objectives

• Debt repayment: The company will use ₹210 crores for repay/prepay certain outstanding borrowings
• Capital expenditure: The company will invest ₹104.5 crores to set up a 220 TPD air separation unit at its Uluberia-II plant.
• General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes.