Ellenbarrie Industrial Gases IPO open date is June 24, 2025 and the IPO will close on June 26, 2025.
The company reported revenue of ₹348.43 crores and profit of ₹83.29 crores in 2025.
Ellenbarrie Industrial Gases IPO Details
| IPO Open Date: | June 24, 2025 |
| IPO Close Date: | June 26, 2025 |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹380 to ₹400 Per Share |
| Issue Size: | Approx ₹852.53 Crores |
| Fresh Issue: | Approx ₹400 Crores |
| Offer for Sale: | Approx 1,13,13,130 Equity Shares |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
Market Lot Size Of Ellenbarrie Industrial Gases IPO
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 37 | ₹14,800 |
| Retail Maximum | 13 | 481 | ₹1,92,400 |
| S-HNI Minimum | 14 | 518 | ₹2,07,200 |
| B-HNI Minimum | 68 | 2,516 | ₹10,06,400 |
Dates Calendar Of Ellenbarrie Industrial Gases IPO
| IPO Open Date: | June 24, 2025 |
| IPO Close Date: | June 26, 2025 |
| Basis of Allotment: | June 27, 2025 |
| Refunds: | June 30, 2025 |
| Credit to Demat Account: | June 30, 2025 |
| IPO Listing Date: | July 1, 2025 |
Business Overview
- Company Profile: Ellenbarrie Industrial Gases Limited (EIGL) is one of India’s oldest industrial gases companies.
- Core Business:
- Manufacturing and supplying industrial and medical gases.
- Key products: Oxygen, Nitrogen, Argon, Hydrogen, and Carbon Dioxide.
- Operations:
- Strong presence in Eastern and Southern India.
- Operates through 4 manufacturing units and 2 cylinder filling stations.
- Clientele:
- Serves over 1,000 clients including steel, healthcare, pharmaceuticals, oil & gas, chemicals, and F&B sectors.
- Played a critical role during COVID-19 by supplying medical oxygen via Indian Air Force transport.
Industry & Market Overview
- Global Market:
- Valued at US$ 105.6 billion in 2024, expected to reach US$ 131.1 billion by 2028 at a 5.5% CAGR.
- Key players: Linde, Air Liquide, Air Products dominate 70.42% global share.
- Indian Market:
- Fragmented but growing; consolidation is ongoing.
- Used in core sectors like steel, chemicals, pharmaceuticals, F&B, and healthcare.
- Growth Drivers:
- Aatmanirbhar Bharat policies (e.g., urea production), sustainability focus (green hydrogen), and demand from existing sectors like F&B and pharma.
Ellenbarrie Industrial Gases IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹255.9 | ₹180.17 | ₹67.16 | ₹414.06 |
| 2023 | ₹223.71 | ₹186.45 | ₹28.14 | ₹551.27 |
| 2024 | ₹290.2 | ₹225.99 | ₹45.29 | ₹672.54 |
| 2025 | ₹348.43 | ₹240.61 | ₹83.29 | ₹845.97 |
Ellenbarrie Industrial Gases IPO Valuation – FY2025
| KPI | Values |
| ROE: | 16.88% |
| ROCE: | 13.71% |
| EBITDA Margin: | 35.12% |
| PAT Margin: | 23.90% |
| Debt to equity ratio: | 0.32 |
| Earning Per Share (EPS): | ₹6.36 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 24.97% |
| Net Asset Value (NAV): | ₹25.48 |
Objects of the Issue
- Total Fresh Issue: ₹4,000 million.
- Utilization Plan:
- ₹2,100 million – Repayment/prepayment of borrowings.
- ₹1,045 million – Set-up of 220 TPD air separation unit at Uluberia-II.
- Balance for General corporate purposes.
- Offer for Sale (OFS): 11,313,130 equity shares by promoters; company will not receive OFS proceeds
Risk Factors Ellenbarrie Industrial Gases IPO
- Heavy capex required for plant expansion.
- Highly competitive industry with multinational dominance.
- Cash flow inconsistency with rising non-cash income.
- Dependency on few geographies (mostly East & South India).
- Government regulatory exposure, especially for medical gases
Summary Ellenbarrie Industrial Gases IPO
- Ellenbarrie is a well-established industrial gas company with loyal clients.
- Industry is consolidating; big players dominate, but Ellenbarrie is growing.
- IPO money will reduce debt and fund plant expansion (good sign).
- Profits growing, but cash flows need monitoring.
- IPO valuation must be moderate to attract investors.
Ellenbarrie Industrial Gases IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: eigl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Managers aka Merchant Bankers
- Motilal Oswal Investment Advisors Limited
- IIFL Capital Services Limited
- Jm Financial Limited
Company Address
Ellenbarrie Industrial Gases Limited
3A, Ripon Street
Kolkata, West Bengal, 700016
Phone: 033-48226521
Email: complianceofficer@ellenbarrie.com
Website: http://www.ellenbarrie.com/
Ellenbarrie Industrial Gases IPO FAQs
When Ellenbarrie Industrial Gases IPO will open for subscription?
The IPO is to open on June 24, 2025 for QIB, NII, and Retail Investors. The IPO will close on June 26, 2025.
What is Ellenbarrie Industrial Gases IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Ellenbarrie Industrial Gases IPO Issue Size?
Ellenbarrie Industrial Gases IPO issue size is ₹852.53 crores.
What is Ellenbarrie Industrial Gases IPO Price Band?
Ellenbarrie Industrial Gases IPO Price Band is ₹380 to ₹400.
What is Ellenbarrie Industrial Gases IPO Lot Size?
The minimum bid is 37 Shares with ₹14,800 amount.
What is the Ellenbarrie Industrial Gases IPO Allotment Date?
Ellenbarrie Industrial Gases IPO allotment date is June 27, 2025.
What is the Ellenbarrie Industrial Gases IPO Listing Date?
Ellenbarrie Industrial Gases IPO listing date is July 1, 2025. The IPO is to list on BSE & NSE.
What is the company’s business focus?
Ellenbarrie is India’s largest 100% Indian-owned industrial gases company, with a legacy of over 50 years. It produces gases like oxygen, nitrogen, argon, hydrogen, CO₂ and serves sectors like steel, healthcare, pharma, and defense.