Adobe Stock
Ellenbarrie Industrial Gases is testing the IPO waters, and the grey market isn’t exactly going wild. The GMP is hovering around Rs 7 above the upper price band — nothing to write home about. But does that mean you should ignore it? Not so fast. There’s more than meets the eye with this one.
IPO basics
- Price band: Rs 380-400 per share
- Lot size: 37 shares
- Issue size: Rs 853 crore (Rs 400 crore fresh issue, Rs 452.5 crore offer for sale)
- IPO dates: June 24-26, 2025
- Listing: Expected July 1, 2025
The fresh issue will mainly go towards reducing debt and funding a new plant in West Bengal.
What’s with the GMP?
Here’s where expectations and reality collide. With a GMP of just Rs 7, the buzz is low compared to some of the recent high-flying IPOs. But this isn’t necessarily bad – it could mean the stock’s pricing is more realistic, and listing gains, if any, will be a bonus rather than the main event.
About the company
It’s been around since 1973, making industrial and medical gases — oxygen, nitrogen, argon and the like — for sectors such as steel, chemicals and healthcare. The company runs nine plants across eastern and southern India and supplies to customers through cylinders, tankers, and on-site units.
The takeaway
Ellenbarrie’s IPO may not have the sparkle of a high-GMP debut, but sometimes boring is good. The fundamentals look clean, and the valuation is sensible. Don’t expect fireworks — think of it as a slow and steady story.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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