Ellenbarrie Industrial Gases IPO - Listing Performance & Details

Ellenbarrie Industrial Gases Limited was incorporated in 1973 and is headquartered in Kolkata, West Bengal. It works in the industrial, medical and specialty gases manufacturing sector.

The company produces and distributes gases including oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon, and nitrous oxide, along with dry ice, synthetic air, fire-fighting gases, medical oxygen, LPG, and welding mixtures. It also provides project engineering services covering the design, engineering, supply, installation, and commissioning of tonnage air separation units, and supplies medical gas pipeline systems and medical equipment such as anaesthesia workstations, ventilators, and bedside monitors to healthcare institutions. As of FY24, the company operated eight facilities across eastern, southern, and central India, with oxygen production capacity of 1,250 tonnes per day, and served 1,836 customers including Indian Air Force bases, the Eastern Naval Command, government laboratories, and AIIMS hospitals. Padam Kumar Agarwala is the Chairman and Managing Director, and Varun Agarwal is a co-promoter.

As per the RHP, revenue rose by 20% and profit after tax rose by 84% between FY24 and FY25. The IPO was a mainboard, book-built issue of Rs 852.53 crore, comprising a fresh issue aggregating up to Rs 400 crore and an offer for sale of up to 1,44,27,620 equity shares, at a price band of Rs 380 to Rs 400 per share, listed on the BSE and NSE. As per the RHP, net proceeds from the fresh issue were proposed to be used for repayment or prepayment of certain outstanding borrowings, setting up an air separation unit at the company's Uluberia-II plant with a capacity of 220 TPD, and general corporate purposes.