Get App
Ellenbarrie Industrial Gases IPO is a bookbuilt issue of ₹ 852.53 crore. It combines a fresh issue of 1.00 crore shares aggregating to ₹400.00 crores and an offer for sale of 1.13 crore shares aggregating to ₹452.53 crores.
The IPO opens for subscription on June 24, 2025, and closes on June 26, 2025. The allotment is expected to be finalized on Friday, June 27, 2025. The price band for the IPO is set at ₹380 to ₹400 per share, and the minimum lot size for an application is 37 shares.
Company Summary
Incorporated in 1973, Ellenbarrie Industrial Gases Limited (EIGL) is an Indian company specialising in the production and supply of industrial, medical, and specialty gases. The company provides essential gases such as oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon, and nitrous oxide. EIGL also offers dry ice, synthetic air, fire-fighting gases, medical oxygen, liquefied petroleum gas (LPG), welding mixtures, and specialty gases, serving a wide range of industries.
Services
EIGL offers project engineering services, leveraging technical expertise to design, install, and commission tonnage air separation units (ASUs) on a turnkey basis. The company also provides medical gas pipeline solutions, assisting healthcare facilities with installing, operating, and maintaining their systems. Additionally, EIGL supplies medical equipment such as anesthesia workstations, ventilators, spirometers, sterilizers, bedside monitors, and lung diffusion testing machines.
EIGL serves various customers, classified into three categories:
- Bulk Customers – Supplied with liquefied gases through cryogenic tankers.
- Package Customers – Receive compressed gases in cylinders.
- Onsite Customers – Provided with onsite gas supply and operations & maintenance services.
Operations & Workforce
- Customer Base: In Fiscal 2025, EIGL supplied products to 1,829 customers.
- Manufacturing Facilities: EIGL operates eight facilities across India: four in West Bengal, two in Andhra Pradesh, one in Telangana, and one in Chhattisgarh.
- Employees: As of March 31, 2025, EIGL employed 281 permanent and 85 contractual employees.
Industries Served
EIGL caters to several industries, including:
- Steel – Supplying gases to leading steel manufacturers like Jairaj Ispat Limited and Rashtriya Ispat Nigam Limited.
- Pharmaceuticals & Chemicals – Clients include Dr. Reddy’s Laboratories Limited and Laurus Labs Limited.
- Healthcare – Partnering with institutions like AIIMS, West Bengal Medical Services Corporation Limited, and Chittaranjan National Cancer Institute.
- Engineering & Infrastructure – Serving companies like GMM Pfaudler Limited and Air India Engineering Services Limited.
- Railways, Aviation & Space – Supplying gases to railway workshops, Jupiter Wagons Limited, and a space research organization.
- Petrochemicals – Working with major oil marketing public sector companies.
- Defence – Providing industrial gases to Hindustan Shipyard Limited.
Company Strengths
- With more than 50 years of experience, Ellenbarrie Industrial Gases Limited has solidified its reputation as a reputable company in the industrial gases industry.
- Serving crucial sectors like healthcare, defense, energy, infrastructure, and manufacturing, the company’s wide and varied product portfolio allows it to adapt to market cycles and accommodate a range of demand.
- Its extensive manufacturing and distribution network in Eastern and Southern India guarantees prompt delivery to clients across the country and operational efficiency.
- EIGL’s solid institutional clientele, which includes well-known organizations like AIIMS and the Indian Armed Forces, highlights its dependability and stellar reputation.
- The company’s supply chain capabilities and service reach are reinforced by ongoing infrastructure developments, such as a strong fleet of cryogenic transport tankers and cutting-edge filling stations.
Company Financials
Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 845.97 | 672.54 | 551.27 |
Revenue | 348.43 | 290.20 | 223.71 |
Profit After Tax | 83.29 | 45.29 | 28.14 |
EBITDA | 109.74 | 61.53 | 33.59 |
Net Worth | 333.62 | 250.15 | 203.32 |
Reserves and Surplus | 467.17 | 403.35 | 356.51 |
Total Borrowing | 245.30 | 176.90 | 101.10 |
Amount in ₹ Crore | |||
Objectives of IPO
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company.
- Setting up of an air separation unit at the Uluberia-II plant with a capacity of 220 TPD.
- General corporate purposes.
Promoters of the company
Padam Kumar Agarwala and Varun Agarwal are the company promoters.
IPO Details
IPO Date | June 24, 2025 to June 26, 2025 |
Listing Date | July 01, 2025 |
Face Value | ₹2 per share |
Price Band | ₹380 to ₹400 per share |
Lot size | 37 shares |
Total Issue size | 2,13,13,130 shares (aggregating up to ₹852.53 Cr) |
Fresh issue | 1,00,00,000 shares (aggregating up to ₹400.00 Cr) |
Offer for Sale | 1,13,13,130 shares of ₹ 2 (aggregating upto ₹452.53 Cr) |
Issue type | Bookbuilding IPO |
Listing at | NSE, BSE |
Lot Allocation Details
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 37 | ₹14,800 |
Retail (Max) | 13 | 481 | ₹1,92,400 |
S-HNI (Min) | 14 | 518 | ₹2,07,200 |
S-HNI (Max) | 67 | 2479 | ₹9,91,600 |
B-HNI (Min) | 68 | 2516 | ₹10,06,400 |
Allotment Schedule
Basis of Allotment | Fri, June 27, 2025 |
Initiation of Refunds | Mon, Jun 27, 2025 |
Credit of Shares to Demat | Mon, Jun 27, 2025 |
Tentative Listing Date | Tue, Jul 01, 2025 |
Cut-off time for UPI mandate confirmation | 5 PM on June 26, 2025 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not more than 50% of the Offer |
Retail Shares Offered | Not less than 35% of the Offer |
NII (HNI) Shares Offered | Not less than 15% of the Offer or the Offer |
To check allotment, click here
Download NOVO App!
Invest in Zero-commission Direct Mutual funds, IPO, Sovereign Gold bonds, Government bills, and Corporate bonds.
