Ellenbarrie Industrial Gases shares list at 23% premium over IPO price on BSE
Ellenbarrie Industrial Gases made a strong debut, listing at Rs 492 per share, a 23% premium over its IPO price of Rs 400 on BSE. Meanwhile, the stock debuted at Rs 486, up 21.5% over its IPO price on NSE.
The issue, a mix of fresh equity worth Rs 400 crore and an offer for sale of Rs 452.53 crore, was subscribed an impressive 22.19 times overall. The demand was driven by Qualified Institutional Buyers (QIBs), who bid 64.23 times their quota, while non-institutional investors (NIIs) followed at 15.21 times. The retail portion saw 2.14 times subscription, reflecting solid interest despite a relatively high ticket size.
EIGL plans to use the IPO proceeds for debt repayment, setting up a 220 TPD air separation unit at its Uluberia-II plant,…
