Ellenbarrie Industrial Gases IPO Witnesses Overwhelming Response
The Rs 852-crore IPO of Ellenbarrie Industrial Gases Ltd was oversubscribed 22.19 times. The offering included both a fresh issue and an offer-for-sale by promoters, raising Rs 256 crore from anchor investors. Proceeds will address debt, expand production facilities, and support corporate needs.
- Country:
- India
The Rs 852-crore initial public offering (IPO) of Ellenbarrie Industrial Gases Ltd saw an impressive 22.19 times subscription by the closing day of bidding, according to data from the NSE.
The IPO, which attracted bids for 33,52,79,311 shares compared to the 1,51,08,983 shares available, saw a notable response from Qualified Institutional Buyers (QIBs) with a subscription rate of 64.23 times. Non-institutional investors subscribed 15.21 times, while the Retail Individual Investors (RIIs) segment was subscribed 2.14 times.
Ellenbarrie Industrial Gases, manufacturing a diverse range of industrial and medical gases, aims to utilize the proceeds from the fresh issue to reduce debt, build an air separation unit, and cover general corporate expenses.
(With inputs from agencies.)
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