Ellenbarrie Industrial Gases Makes a Solid Market Debut; Lists at 23% premium on BSE

Industrial‑gases player, Ellenbarrie Industrial Gases Limited, made a spectacular entry on the stock exchanges today. From the issue price of ₹400, the shares listed at ₹492 on the BSE and ₹486 on NSE, i.e., a premium of 23% and 21.50% respectively. 

After a strong listing and within minutes of opening trade, shares surged to their upper circuit limit of ₹534.60 at 10:07 AM.

The Ellenbarrie Industrial Gases IPO was open for subscription from 24 June 2025 to 26 June 2025, during which the IPO received 33,52,83,825 bids against 1,51,08,983 total shares offered.

Qualified Institutional Buyers (QIBs) showed the most interest and subscribed 64.23 times, followed by Non-Institutional Investors 15.21 times, and retail investors 2.14 times.

The company intends to use the IPO proceeds towards repaying/prepaying borrowings, setting up an air separation unit at the Uluberia-II plant, and general corporate purposes.

Ellenbarrie Industrial Gases is the largest 100% Indian-owned industrial gases company (in terms of installed manufacturing capacity as of March 31, 2024, revenues and profitability in Fiscal 2024) and one of India's oldest operating industrial gases companies.

With a 50-year legacy, the company manufactures and supplies various industrial gases, including oxygen, carbon dioxide, acetylene, fire-fighting gases, medical oxygen, etc.

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