As an investor, deciding whether the IPO is Good or Bad to invest in can often be challenging. If you are confused and worried about whether to Apply or Not in the Ellenbarrie Industrial Gases IPO. Then worry not, here we are describing 10 important key points & an in-depth, detailed Ellenbarrie Industrial Gases IPO review and analysis which will help you to make the decision.
Strengths and Weaknesses of Ellenbarrie Industrial Gases
Strengths:
- Ellenbarrie Industrial Gases is a top industrial gas manufacturer, well placed to benefit from the growing industry trend.
- The company manufactures a comprehensive range of industrial gases serving a diverse range of industries.
- The company consists of a highly experienced and hardworking senior management team, which is managed by a knowledgeable board of directors.
- They are one of the largest industrial gas manufacturers in East and South India, as well as a top player in West Bengal, Andhra Pradesh, and Telangana.
Weaknesses:
- The company mostly raises revenue from its major customers. Losing any of those customers, or if their financial situations worsen, or need fewer products from us, can negatively impact the business, its financial condition, and cash flow.
- Its business mostly relies on our facilities. If any long-lasting disruption happens at these facilities may negatively impact its business, performance, cash flow, and overall financial health.
- Three of our facilities run at our customers’ locations. Meaning that any relationship with these customers that worsens can badly affect its business, performance, cash flow, and financial health.
- The company mostly runs its business in certain industries that use our products. If the demand for their end products decreases, it can negatively impact our business, performance, cash flow, and financial health.
Ellenbarrie Industrial Gases IPO Details
| IPO Size | ₹852.53 crores |
| Offer-for-sale | 1,13,13,130 Equity Shares |
| Fresh issue | ₹852.53 crores |
| Price band | ₹380 to ₹400 |
| Subscription | Opens for subscription on June 24, 2025, and the closing date is June 26, 2025 |
| Purpose of IPO | Fresh Issue and Offer-for-Sale |
Ellenbarrie Industrial Gases IPO Open and closing date?
Ellenbarrie Industrial Gases will be open for subscription on June 24, 2025, and the IPO will close on June 26, 2025.
What is the size of the Ellenbarrie Industrial Gases IPO?
Ellenbarrie Industrial Gases planned to raise funds of around ₹852.53 crores via IPO. This IPO comprises a fresh issue of up to ₹400 crores and an offer for sale up to 1,13,13,130 Equity Shares with a face value of ₹2 each.
What are the subscription details of Ellenbarrie Industrial Gases IPO?
The price range of Ellenbarrie Industrial Gases is set as ₹380 to ₹400 per share. In this IPO, a total of 37 shares were available in one lot size for the minimum Retail category. For the maximum Retail category, 481 shares were available in 13 lot sizes. Additionally, 518 shares were available in 14 lot sizes for the S-HNI Minimum category. While for the B-HNI Minimum category, 2,516 shares were available in 68 lot sizes.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹14,800 and maximum investment of ₹1,92,400.
- Small HNI (S-HNI): Minimum investment of ₹2,07,200.
- Big HSI (S-HNI): A minimum investment of ₹10,06,400 is required.
What is the Ellenbarrie Industrial Gases IPO listing Date?
Ellenbarrie Industrial Gases is a Mainboard IPO shares that will be listed on July 1, 2025, on the BSE (Bombay Stock Exchange) & NSE (National Stock Exchange).
What are the objectives of the Ellenbarrie Industrial Gases Issue?
The main objective behind raising funds through this IPO is to handle the repayment or prepayment of the existing borrowings taken by the company. Some funds will be used to build an air separation unit at the Uluberia-II plant with a capacity of 220 TPD. The remaining funds will be utilized for the company’s general corporate purposes.
About Ellenbarrie Industrial Gases
Incorporated in 1973, Ellenbarrie Industrial Gases Limited (EIGL) is a prominent company that focuses on the production and supply of Industrial, medical, and specialty gases. Ellenbarrie is one of the leading and oldest industrial gas suppliers in India, known to provide a wide range of essential gases such as Oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon, and nitrous oxide. Moreover, they are also involved in providing dry ice, synthetic air, fire-fighting gases, medical oxygen, liquefied petroleum gas (LPG), welding mixtures, and specialty gases. They are also engaged in providing project engineering services using technical expertise to design, engineer, supply, install, and commission tonnage air separation units (“ASUs”) on a turnkey basis. Anaesthesia workstations, spirometers, ventilators, sterilizers, bedside monitors, and lung diffusion testing machines to healthcare facilities, the company supplies various medical equipment. As of March 31, 2024, the company consists of 250 permanent and 67 contractual employees.
Ellenbarrie Industrial Gases IPO Financials
The company reported revenue of ₹348.43 crores in 2025 against ₹290.2 crores in 2024. The company reported a profit of ₹83.29 crores in 2025 against a profit of ₹45.29 crores in 2024.
Ellenbarrie Industrial Gases IPO Promoters
The promoters of the company are Padam Kumar Agarwala and Varun Agarwal..
Who are the Ellenbarrie Industrial Gases lead managers and registrar?
Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and JM Financial Limited are the lead managers of Ellenbarrie Industrial Gases, while KFin Technologies Limited is the registrar of the company.
What are the Strategies of Ellenbarrie Industrial Gases? Should you apply or not for this IPO?
Let’s first look at what some of the strategies the company is planning to apply shortly.
- In the future, Ellenbarrie Industrial Gases will be working on ways to expand the business of Gases, particularly specialty gases, and plans to reach more industries that use our products.
- Along with expanding its gases, the company is also planning to start plant manufacturing in order to support and strengthen the project engineering capabilities.
- In the upcoming months, the company will be planning to expand its manufacturing capacity and planning to establish a pan-India presence.
- The company will be planning to maintain a balanced mix of merchant sales and onsite business of steady growth and flexibility.
Ellenbarie Industrial Limited is one of the largest 100% Indian-owned industrial gases companies with installed manufacturing capacity, especially in East and South India. The company comprises 8 operational facilities with a client base of 1,836. In FY24, the company has shown strong growth by generating a revenue of ₹269.5 crore with a 61% jump in profit. If you are someone who is looking for short-term listing gain, you can apply for the Ellenbarie industrial IPO. However, we first recommend doing a complete background check on the company’s financial, cash flow, and overall condition before investing your money. For more updates or queries, please contact the IPOWatch team.
