Ellenbarrie Industrial Gases IPO: Should You Take a Breath and Invest?
In the midst of India’s IPO wave, Ellenbarrie Industrial Gases Limited has quietly entered the arena with its Initial Public Offering (IPO), grabbing the attention of niche market watchers and informed investors.
But is this IPO a breath of fresh air or just another offering in an overheated market?
Let’s take a closer look at the fundamentals, subscription status, and what investors should consider before taking the plunge.
IPO Overview: Key Details at a Glance
The Ellenbarrie Industrial Gases IPO opened for subscription on June 24, 2025, and will close on June 26, 2025. The IPO price band is set at ₹140–₹147 per share, and the issue size is approximately ₹65.35 crore.
The offering comprises a fresh issue of 40.84 lakh shares. The shares are set to be listed on the BSE SME platform.
The minimum lot size is 1,000 shares, meaning the minimum investment is ₹147,000 — something to keep in mind if you’re a retail investor.
Who is Ellenbarrie Industrial Gases?
Based in Kolkata, Ellenbarrie Industrial Gases has been in the industrial and medical gas manufacturing space since 1973. With over five decades of experience, the company supplies oxygen, nitrogen, argon, and other gases to a range of industries including healthcare, steel, pharmaceuticals, and automobile manufacturing.
It operates two manufacturing units—one in Telangana and the other in West Bengal—strategically located to serve major clients across the eastern and southern parts of India.
Why This IPO is Gaining Traction
On Day 2, the IPO was 31% subscribed, with increasing interest from retail investors and Qualified Institutional Buyers (QIBs).
Here’s why investors are taking notice:
- Essential industry: Industrial gases are the backbone of healthcare, pharma, and engineering sectors.
- Proven track record: A long-standing company with over 50 years of operational history.
- Expansion-focused: IPO proceeds will go toward capacity expansion, working capital, and modernization.
- Growing demand: Especially in medical oxygen post-pandemic, and ongoing industrial growth.
Add to that the growing buzz in the Grey Market Premium (GMP) space, with early indicators suggesting a possible ₹20–₹25 premium, and the IPO begins to look even more promising.
What Should Investors Consider?
While the fundamentals look strong, here are a few things to think about:
- The IPO is listed on the BSE SME platform, which may have lower liquidity and higher volatility than mainboard listings.
- Minimum investment is on the higher side for small retail investors.
- Profit margins in the industrial gas sector can fluctuate due to raw material costs and energy pricing.
That said, Ellenbarrie’s longevity, brand recall, and relevance in essential services give it an edge in terms of defensive investment strategy.
Final Verdict: Subscribe or Skip?
If you’re a medium to high-risk investor looking for long-term growth in a stable yet essential industry, Ellenbarrie Industrial Gases IPO might be worth considering.
While it may not have the glamour of tech IPOs, it offers a solid business model, reliable clientele, and expansion plans backed by experience.
For those looking to diversify into core industrial sectors, this could be a hidden gem waiting to deliver.