The ₹218 crore IPO of Ellenbarrie Industrial Gases Ltd. has seen moderate investor interest, with overall subscription at 31% as of June 26, 2025 (Day 2).

The retail segment has shown higher activity, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) are expected to participate more heavily on the final day, a common trend in SME and small-cap IPOs.

Subscription Status (As of Day 2)

Ellenbarrie IPO GMP Today

As per IPO observers:

• The Grey Market Premium (GMP) is fluctuating between ₹5 and ₹7 per share.

• This indicates a potential listing gain of 4–6% over the upper end of the issue price.

However, analysts caution that low subscription levels and muted institutional interest could dampen listing enthusiasm unless Day 3 sees a surge in bids.

IPO Details Snapshot

Company Profile: Ellenbarrie Industrial Gases Ltd.

Founded in 1973, Ellenbarrie Industrial Gases is a well-established manufacturer and supplier of industrial and medical gases, including:

• Oxygen

• Nitrogen

• Argon

• Carbon dioxide

It operates multiple manufacturing units in eastern India, catering to steel, healthcare, and manufacturing sectors. The IPO proceeds will be used for:

• Capacity expansion

• Debt repayment

• General corporate purposes

What Should Investors Do?

Given the modest GMP and low institutional response, analysts suggest:

• Watching Day 3 subscription levels, especially from QIBs.

• Evaluating the company’s financial performance, sector potential, and growth roadmap.

• Applying only if aligned with one’s risk appetite and long-term outlook.

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  Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are advised to consult with certified financial advisors and read all documents carefully before making investment decisions. Market conditions are subject to change.

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