Ellenbarrie Industrial Gases Share Price Surges on Stock Market Debut

Market Performance

Ellenbarrie Industrial Gases' share price made an impressive debut on the Indian stock exchanges on Tuesday, July 1.

• NSE Listing Price: ₹486 per share
• BSE Listing Price: ₹492 per share
• Issue Price: ₹400 per share

This reflects a premium of:

• 23% on the BSE
• 21.5% on the NSE

The performance exceeded expectations, especially when compared to the grey market premium (GMP) of ₹57, which had pointed to a potential 14% listing gain.

Main News

The IPO listing of Ellenbarrie Industrial Gases outperformed market indicators, posting gains that were more substantial than anticipated.

The stock received a warm welcome from investors on its listing day, indicating strong interest and confidence in the company's fundamentals.

Company Details

Ellenbarrie Industrial Gases is engaged in the manufacture and supply of industrial gases. It caters to a variety of sectors through:

• Industrial gas manufacturing
• Project engineering services
• Turnkey solutions for medical gas pipeline systems
• Medical equipment supply for healthcare facilities

These diversified offerings have contributed to its appeal among investors.

IPO Highlights

The IPO of ₹853 Crore was structured as follows:

• Fresh Issue: ₹400 Crore
• Offer for Sale (OFS): ₹453 Crore

Subscription Details:

• Total Subscription: 22.19 times
• Qualified Institutional Buyers (QIBs): 64.23 times
• Non-Institutional Investors (NIIs): 15.21 times
• Retail Investors: 2.14 times

Application Basics:

• Minimum Lot Size: 37 shares
• Application Multiples: 37 shares thereafter

Funds raised from the IPO are proposed to be utilized for:

• Repayment of specific borrowings
• Setting up an air separation unit
• General corporate purposes

Summary of the Article

Ellenbarrie Industrial Gases' shares made a strong stock market debut, listing at a premium of more than 20% over the issue price. With a highly subscribed IPO, strong investor interest, and a broad business model encompassing both industrial and medical gas solutions, the company demonstrated market strength from the outset.

The impressive listing, backed by robust IPO subscription numbers, signals a promising outlook for the company, even as it steps into the public investment domain for the first time.