Ellenbarrie Industrial Gases Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹380 - ₹400
- Lot size
- 37 shares
- Issue amount
- ₹852.53 cr
- Total subscription
- 22.47×
- Opens
- 24 Jun 2025
- Closes
- 26 Jun 2025
- Allotment
- 27 Jun 2025
- Listing
- 1 Jul 2025
Offer at a glance
Issue overview
- Issue size
- 2,13,13,130 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹14,060
- Fresh issue
- ₹400 cr
- Offer for sale
- ₹452.53 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 13,09,35,600
- Shares after issue
- 14,09,35,600
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 37 | ₹14,800 |
| sHNI | 14 | 518 | ₹2,07,200 |
| bHNI | 68 | 2,516 | ₹10,06,400 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 2,01,611 | 3,47,483 |
| HNIs(10L +) | 4,115 | 14,136 |
| HNIs (2-10L) | 2,057 | 24,077 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 170.51 | 10,763.17 |
| RETAIL | 298.38 | 655.68 |
| HNIs 2+ | 42.63 | 507.76 |
| HNIs 10+ | 85.25 | 1,484.74 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 6.36 | 3.46 | 2.15 |
| ROE | 16.88 | 11.05 | 7.75 |
| ROCE | 13.71 | 10.93 | 6.07 |
| RONW | 24.97 | 18.1 | 13.84 |
| PRE IPO(PE) | 62.88 | 0 | 0 |
| POST IPO(PE) | 67.69 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Established in 1973, EIGL is a well-known Indian company specializing in the production and supply of a wide range of industrial, medical, and specialty gases such as oxygen, nitrogen, carbon dioxide, acetylene, argon, helium, hydrogen, and nitrous oxide. It also provides products like dry ice, synthetic air, LPG, welding gas mixtures, and gases used in medical applications. The company offers turnkey solutions for setting up air separation units, installs and maintains medical gas pipelines, and supplies essential medical equipment including ventilators, anesthesia machines, and patient monitors. EIGL serves different types of customers through bulk deliveries using cryogenic tankers, packaged gas cylinders, and onsite gas supply systems with operation and maintenance support. Its services are widely used across various industries such as steel, pharmaceuticals, chemicals, healthcare, engineering, railways, aviation, petrochemicals, and defense. Notable clients include Dr. Reddy’s, AIIMS, Laurus Labs, and Rashtriya Ispat Nigam. As of FY24, the company served 1,836 customers, including 295 bulk clients with average contract durations of five years. EIGL operates eight production plants located in West Bengal, Andhra Pradesh, Telangana, and Chhattisgarh, and has a workforce of 250 permanent and 67 contractual employees.
Strengths
- Wide Range of Products: Offers various industrial, medical, and specialty gases for different industries.
- Well-Established Company: Experienced player with many years in the business and a strong manufacturing network across India.
- Reliable Customers: Works with top clients on long-term contracts, ensuring steady income and cash flow.
Risk factors
- Dependence on Key Customers: Losing major clients or a drop in their demand could hurt revenue and cash flow.
- Production Interruptions: Unexpected shutdowns at factories may slow down operations and impact earnings.
- Reliance on Customer Sites: Running facilities at customer locations creates more dependency and risk if relationships change.
Promoters
Padam Kumar Agarwala
Varun Agarwal
Registrar & documents
Lead manager
Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, Jm Financial Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
3A, Ripon Street, West Bengal, India Kolkata, West Bengal, 700016
033-48226521
[email protected]Company website ↗Understanding ELLEN IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.