Ellenbarrie Industrial Gases' Ambitious IPO Sets Strong Anchor Investment Precedent

Ellenbarrie Industrial Gases has successfully secured Rs 256 crore from anchor investors, setting a promising tone for its upcoming initial public offering (IPO). The IPO, projected at Rs 852.53 crore, is set to open on June 24, with a price range of Rs 380-400 per share. Anchor investors, including major mutual funds and insurers, have shown confidence by purchasing shares at the higher end of the price band.

The company plans to utilize Rs 210 crore from fresh issues to alleviate its debt, along with Rs 104.50 crore allocated for establishing a new air separation unit at its Uluberia-II plant in West Bengal. The remaining proceeds will support other corporate activities. Ellenbarrie, known for its industrial and medical gas production, reported significant revenue and profit growth in FY25, highlighting its robust market position.

Public investors have the opportunity to invest from June 24 to June 26, with shares being offered in multiples of 37. Post-IPO, Ellenbarrie's shares will be listed on both the BSE and NSE, aiding its market expansion. Renowned financial institutions are managing the IPO process, ensuring credible supervision and execution.

(With inputs from agencies.)