Ellenbarrie Industrial Gases Restricted is ready to launch its IPO, opening for subscription from June 24 to June 26, 2025. Backed by over 5 many years of expertise in industrial and medical gases, this Kolkata-based firm is providing a mixture of contemporary subject and provide on the market (OFS). On this article, we are going to dive into the IPO assessment, GMP particulars, financials, strengths, dangers, and whether or not you must subscribe or keep away from this IPO.
Ellenbarrie Industrial Gases IPO – Problem Particulars
- IPO Open Date: June 24, 2025
- IPO Shut Date: June 26, 2025
- Itemizing Date (Tentative): July 1, 2025
- Worth Band: ₹ 380 – ₹ 400 per share
- Lot Dimension: 37 shares
- Minimal Funding: ₹ 14,800
- Problem Dimension: ₹ 852.53 Crores
- Recent Problem: ₹ 400 Crores
- OFS: ₹ 452.53 Crores
- Face Worth: ₹ 2 per share
- Market Lot: Retail buyers can apply for 1 lot (37 shares) or multiples thereof.
- E book Operating Lead Managers: Motilal Oswal, IIFL Capital, JM Monetary
- Registrar: KFin Applied sciences
About Ellenbarrie Industrial Gases Restricted
Established in 1973, Ellenbarrie Industrial Gases is a number one Indian producer and provider of commercial, medical, and specialty gases. The corporate presents oxygen, carbon dioxide, acetylene, nitrogen, argon, hydrogen, helium, and dry ice. It serves purchasers in metal, prescribed drugs, healthcare, railways, area, and defence sectors.
They function 8 manufacturing amenities throughout India and served over 1,800 prospects in FY2025.
Aggressive Strengths
- Over 50 years of business expertise
- Various fuel portfolio catering to numerous sectors
- Lengthy-standing relationships with marquee purchasers like AIIMS, RINL, Dr. Reddy’s, and Air India Engineering
- Robust pan-India manufacturing and distribution community
- Wholesome EBITDA and PAT margins
Ellenbarrie Industrial Gases Financials
| Particulars | FY23 | FY24 | FY25 |
| Income (Cr) | 223.7 | 290.2 | 348.4 |
| PAT (Cr) | 28.1 | 45.3 | 83.3 |
| EBITDA (Cr) | 33.6 | 61.5 | 109.7 |
| ROE (%) | – | – | 16.88% |
| ROCE (%) | – | – | 13.71% |
| PAT Margin (%) | – | – | 23.9% |
| EBITDA Margin (%) | – | – | 35.1% |
PAT has grown by 84% YoY and income by 20%, showcasing robust operational effectivity and margin growth.
Objects of the IPO
- Compensation of sure borrowings (₹ 210 Cr)
- Establishing a brand new air separation unit at Uluberia-II (₹ 104.5 Cr)
- Basic company functions
Optimistic Elements / Causes to Spend money on Ellenbarrie IPO
- Robust Progress Momentum: Spectacular 84% bounce in PAT YoY signifies profitability traction.
- Sectoral Tailwinds: Growing demand from metal, pharma, and healthcare sectors offers a progress runway.
- Skilled Administration: Led by seasoned promoters with business perception and execution capabilities.
- Diversified Product & Consumer Base: Affords resilience towards sectoral slowdown.
- Strategic Enlargement: Proceeds used for establishing a brand new plant signifies forward-looking progress.
- Improved Margins: EBITDA margin at 35% and PAT margin at 24% mirror operational excellence.
Dangers to Contemplate
- Excessive dependency on few giant prospects
- Regulatory and compliance dangers, particularly in industrial gases
- Excessive valuation in comparison with friends
- Previous delisting and re-entry could concern conservative buyers
Valuation and P/E Comparability with Friends
- EPS (Submit Problem): ₹ 5.91
- P/E Ratio (Submit Problem): ~67.7x
- E book Worth: ~₹ 20
- P/B Ratio: ~20.9x
- Market Cap: ₹ 5,637 Cr
Peer Comparability:
| Firm | P/E Ratio |
| Linde India | 70x+ |
| Goyal Gases (Unlisted) | ~40x (business avg.) |
| Ellenbarrie | 67.7x (Submit Problem) |
Conclusion on Valuation: Ellenbarrie’s P/E of 67.7x is on the upper facet however in keeping with main listed friends like Linde India. Whereas costly, the pricing displays the corporate’s area of interest place, robust financials, and future potential. Conservative buyers could discover the valuation stretched, however growth-focused buyers might contemplate it affordable given the margins and ROE.
Gray Market Premium (GMP) of Ellenbarrie IPO
As per market sources, the GMP of Ellenbarrie Industrial Gases IPO is round ₹ 65-75 per share as of now. This displays average curiosity within the gray market.
Apply for Ellenbarrie IPO?
You’ll be able to apply by way of:
- UPI by means of dealer platforms (Zerodha, Groww, Upstox, and many others.)
- Web banking ASBA facility by way of your financial institution (ICICI, HDFC, SBI, and many others.)
Ellenbarrie IPO – Ought to You Make investments or Keep away from?
Ellenbarrie Industrial Gases is a distinct segment participant with robust fundamentals and stable progress in profitability. Nonetheless, its IPO is priced on the upper facet relative to smaller gamers, although nonetheless aggressive in comparison with Linde India. For those who’re a long-term investor on the lookout for a play on healthcare, infrastructure, and manufacturing progress, this IPO might suit your portfolio. Conservative buyers could contemplate making use of with a restricted quantity or await post-listing stability.
FAQs on Ellenbarrie Industrial Gases IPO
- What are Ellenbarrie IPO dates?
June 24 to June 26, 2025. - What’s the IPO worth band?
₹ 380 to ₹ 400 per share. - What’s the minimal lot dimension?
1 lot = 37 shares = ₹ 14,800 approx. - What’s the GMP of Ellenbarrie IPO?
Round ₹ 65 to 75 as per market sources. - When is the itemizing date?
Tentatively July 1, 2025. - What are the funds getting used for?
Mortgage compensation, new plant setup, and normal company use. - Ought to I apply to Ellenbarrie IPO?
Good fundamentals however excessive valuation; appropriate for long-term buyers with average threat urge for food.
Disclaimer: This IPO evaluation is for data solely. Please seek the advice of your monetary advisor earlier than investing.
Uncover extra from Myinvestmentideas.com
Subscribe to get the newest posts despatched to your e-mail.
