Ellenbarrie Industrial Gases IPO Day 2: 31% Subscribed – GMP Trends & Key Dates Revealed: Are you wondering whether the Ellenbarrie Industrial Gases IPO is worth your investment? With the IPO subscription reaching 31% on Day 2, investor interest is gradually picking up. But what do the Grey Market Premium (GMP) trends, subscription status, and key dates tell us about its potential? This comprehensive guide dives deep into the Ellenbarrie Industrial Gases IPO Day 2, offering insights into its performance, financials, and what investors should consider before applying.
This article provides a detailed, SEO-optimized analysis, crafted to align with Google’s 2025 Helpful Content guidelines and EEAT standards. Whether you’re a retail investor, a high-net-worth individual (HNI), or an institutional buyer, you’ll find actionable information to make informed decisions. Let’s explore the 31% Subscribed – GMP Trends & Key Dates Revealed and uncover what makes this IPO a topic of discussion in the stock market.
Ellenbarrie Industrial Gases IPO: An Overview
Contents
- 1 Ellenbarrie Industrial Gases IPO: An Overview
- 2 Subscription Status: Breaking Down the 31% on Day 2
- 3 Grey Market Premium (GMP) Trends: What’s the Buzz?
- 4 Key Dates for Ellenbarrie Industrial Gases IPO
- 5 Financial Performance and Valuation
- 6 Why Invest in Ellenbarrie Industrial Gases IPO?
- 7 Real-World Example: Comparing Ellenbarrie to Recent IPOs
- 8 How to Apply for the Ellenbarrie Industrial Gases IPO
- 9 FAQ Section
- 9.1 FAQ 1: What Is the Ellenbarrie Industrial Gases IPO Subscription Status on Day 2?
- 9.2 FAQ 2: What Is the Grey Market Premium (GMP) for Ellenbarrie Industrial Gases IPO?
- 9.3 FAQ 3: What Are the Key Dates for the Ellenbarrie Industrial Gases IPO?
- 9.4 FAQ 4: Should You Invest in the Ellenbarrie Industrial Gases IPO?
- 9.5 FAQ 5: How Does Ellenbarrie’s IPO Compare to Other IPOs This Week?
- 10 Conclusion: Is Ellenbarrie Industrial Gases IPO a Smart Investment?
What Is the Ellenbarrie Industrial Gases IPO?
The Ellenbarrie Industrial Gases IPO is a mainboard public offering by Ellenbarrie Industrial Gases Limited (EIGL), a Kolkata-based company founded in 1973. Known for its production and supply of industrial, medical, and specialty gases, EIGL is one of India’s oldest and largest 100% Indian-owned industrial gas manufacturers. The IPO, which opened on June 24, 2025, aims to raise ₹852.53 crore through a combination of a fresh issue and an offer for sale (OFS).
- Fresh Issue: ₹400 crore for debt repayment, setting up a new air separation unit, and general corporate purposes.
- Offer for Sale (OFS): 1.13 crore shares worth ₹452.53 crore by promoters Padam Kumar Agarwala and Varun Agarwal.
- Price Band: ₹380–₹400 per share.
- Lot Size: 37 shares (minimum investment of ₹14,800 at the upper band).
- Listing Date: Tentatively July 1, 2025, on BSE and NSE.
Why Is Day 2 Subscription Status Important?
The Ellenbarrie Industrial Gases IPO Day 2 subscription status of 31% indicates a moderate response compared to Day 1’s 8% subscription. This uptick reflects growing interest, particularly among retail and non-institutional investors (NIIs). Analyzing Day 2 data helps investors gauge market sentiment and predict potential listing gains.
Subscription Status: Breaking Down the 31% on Day 2
How Subscribed Is the IPO?
As of June 25, 2025, the Ellenbarrie Industrial Gases IPO was subscribed 0.31 times, receiving bids for approximately 46.8 lakh shares against the 1.51 crore shares offered. Here’s a category-wise breakdown:
| Investor Category | Subscription Rate | Shares Applied For | Shares Offered |
|---|---|---|---|
| Retail Investors (RII) | 38% (0.38x) | ~28.4 lakh | 74.59 lakh |
| Non-Institutional Investors (NII) | 31% (0.31x) | ~9.9 lakh | 31.96 lakh |
| Qualified Institutional Buyers (QIB) | 0% (0.00x) | 6,771 | 106.56 lakh |
| Anchor Investors | 30% | 63.93 lakh | 63.93 lakh |
| Total | 31% (0.32x) | 46.8 lakh | 151.08 lakh |
Source: BSE data, June 25, 2025, 6:25 PM IST
Key Observations
- Retail Investors Lead: The retail portion saw a 38% subscription, indicating confidence among individual investors.
- NIIs Show Interest: Non-institutional investors, including HNIs, subscribed 31%, a significant jump from Day 1’s 5%.
- QIBs Yet to Bid: Qualified institutional buyers have shown minimal participation, which is typical for early IPO days as they often bid closer to the closing date (June 26, 2025).
- Anchor Investor Support: Ellenbarrie raised ₹255.76 crore from anchor investors on June 23, including major funds like HDFC Mutual Fund, Axis Mutual Fund, and Tata MF, signaling institutional confidence.
Grey Market Premium (GMP) Trends: What’s the Buzz?
Understanding GMP
The Grey Market Premium (GMP) reflects the unofficial price at which IPO shares trade in the unlisted market before listing. It’s a key indicator of investor sentiment and potential listing gains.
Ellenbarrie Industrial Gases IPO GMP on Day 2
On June 25, 2025, the GMP for Ellenbarrie Industrial Gases IPO ranged between ₹24–₹27, up from ₹7–₹9 on Day 1. This translates to an estimated listing price of ₹424–₹427 per share, a 6–6.75% premium over the upper price band of ₹400.
| Date | GMP | Estimated Listing Price | Premium (%) |
|---|---|---|---|
| June 24, 2025 | ₹7–₹9 | ₹407–₹409 | 1.75–2.25% |
| June 25, 2025 | ₹24–₹27 | ₹424–₹427 | 6–6.75% |
Source: InvestorGain.com, June 25, 2025
What Does the GMP Trend Indicate?
- Rising Sentiment: The GMP’s increase from Day 1 to Day 2 suggests growing investor optimism, potentially driven by the subscription uptick.
- Modest Listing Gains: A 6–6.75% premium indicates moderate listing gains, lower than high-demand IPOs but reasonable for a stable industrial sector company.
- Volatility Warning: GMP is speculative and can fluctuate. Investors should not base decisions solely on GMP trends.
Key Dates for Ellenbarrie Industrial Gases IPO
IPO Timeline
Understanding the key dates is essential for investors to stay on top of their applications and allotments:
| Event | Date |
|---|---|
| IPO Opens | June 24, 2025 |
| IPO Closes | June 25, 2025 |
| Anchor Investor Bidding | June 23, 2025 |
| Allotment Finalization | June 27, 2025 |
| Refund Initiation | June 30, 2025 |
| Demat Account Credit | June 27, 2025 |
| Listing Date (BSE, NSE) | July 1, 2025 |
Source: Chittorgarh.com, June 25, 2025
Why These Dates Matter
- Application Window: Investors must apply by June 26, 2025, to participate.
- Allotment and Refunds: Check allotment status on June 9, 2025, via the registrar’s website (Kfin Technologies). Refunds or share credits follow shortly after.
- Listing Day: July 1, 2025, is when shares begin trading, offering insights into listing performance.
Financial Performance and Valuation
Ellenbarrie’s Financial Highlights
Ellenbarrie Industrial Gases has shown strong financial growth, making it an attractive investment for long-term investors:
- Revenue Growth: Revenue increased by 20% from ₹290.2 in crore FY24 to ₹348.43 crore in FY25.
- Profit Surge: Profit after tax (PAT) 84% from ₹45.32 crore in FY24 to ₹83.29 crore in FY25.
- EBITDA Margin: 35.8% in FY25, reflecting operational efficiency.
- Return on Equity (RoE): 16.9% in FY25, indicating solid returns for shareholders.
- Market Capitalization: ₹5,637.42 crore at the upper price band.
Valuation Metrics
At the upper price band of ₹400:
- P/E Ratio: 62.88x based on FY25 EPS of ₹6.36, lower than peer Linde India’s 67.7x.
- Post-Issue EPS: ₹6.36, suggesting reasonable valuation for growth potential.
Analyst Recommendations
- SBI Securities: Recommends “Subscribe” due to EIGL’s strong client base, margin improvement, and attractive valuation compared to peers.
- Bajaj Broking: “Neutral” rating, citing reasonable valuation but highlighting risks like high capital intensity and regulatory challenges.
Why Invest in Ellenbarrie Industrial Gases IPO?
Strengths of EIGL
- Market Leadership: One of India’s largest Indian-owned industrial gas companies with a 2.65% market share by revenue in FY24.
- Diversified Portfolio: Supplies oxygen, nitrogen, argon, helium, and specialty gases to sectors like steel, healthcare, pharmaceuticals, and defense.
- Strategic Expansion: Plans to set up a 220 TPD air separation unit at Uluberia-II, enhancing capacity by 2HFY26.
- Strong Clientele: Serves 1,836 customers, including Indian Air Force, Eastern Naval Command, and AIIMS hospitals.
- Debt Reduction: ₹210 crore of IPO proceeds will reduce interest costs, boosting profitability.
Risks to Consider
- Low Subscription So Far: The 31% subscription on Day 2 suggests muted initial demand, which could impact listing performance.
- Sector Risks: High capital intensity, regulatory challenges, and sensitivity to input costs.
- QIB Hesitation: Lack of QIB bids on Day 2 may signal caution among large investors.
- GMP Volatility: The GMP’s speculative nature means listing gains are not guaranteed.
Real-World Example: Comparing Ellenbarrie to Recent IPOs
To contextualize Ellenbarrie’s performance, let’s compare it to the HDB Financial Services IPO, which opened on June 25, 2025, and saw a 21% subscription on Day 1 with a GMP of ₹100 (9% premium).
| IPO Name | Day 2 Subscription | GMP (Day 2) | Price Band | Issue Size |
|---|---|---|---|---|
| Ellenbarrie Industrial Gases | 31% | ₹24–₹27 | ₹380–₹400 | ₹852.53 Cr |
| HDB Financial Services | N/A (Day 1: 21%) | ₹100 | ₹700–₹740 | ₹12,500 Cr |
How to Apply for the Ellenbarrie Industrial Gases IPO
Steps to Apply
- Open a Demat Account: Use brokers like Zerodha or Upstox.
- Log into Your Broker’s Platform: Navigate to the IPO section.
- Select Ellenbarrie IPO: Enter the number of lots (minimum 37 shares).
- Choose Payment Method: Use UPI for seamless transactions.
- Submit Application: Bid at the cutoff price (₹400) to avoid oversubscription issues.
Internal Links:
Outbound Links:
- BSE India for subscription data.
- Kfin Technologies for allotment status.
- Chittorgarh IPO Portal for IPO details.
FAQ Section
FAQ 1: What Is the Ellenbarrie Industrial Gases IPO Subscription Status on Day 2?
The Ellenbarrie Industrial Gases IPO Day 2 subscription status is 31% (0.32x), with bids for approximately 46.8 lakh shares against 1.51 crore shares offered. Retail investors subscribed 38%, non-institutional investors (NIIs) 31%, and qualified institutional buyers (QIBs) showed minimal participation at 0%. Anchor investors secured 30% of the issue, raising ₹255.76 crore. This moderate subscription reflects cautious optimism, with retail and NII interest driving the uptick from Day 1’s 8%. Investors should monitor Day 3 for potential QIB participation, which often boosts overall subscription.
FAQ 2: What Is the Grey Market Premium (GMP) for Ellenbarrie Industrial Gases IPO?
On June 25, 2025, the GMP for the Ellenbarrie Industrial Gases IPO is ₹24–₹27, indicating an estimated listing price of ₹424–₹427 per share. This represents a 6–6.75% premium over the upper price band of ₹400. The GMP has risen from ₹7–₹9 on Day 1, signaling improving market sentiment. However, GMP is speculative and not an official indicator of listing performance. Investors should consider EIGL’s strong financials (20% revenue growth, 84% PAT growth in FY25) and sector risks before relying on GMP trends.
FAQ 3: What Are the Key Dates for the Ellenbarrie Industrial Gases IPO?
The Ellenbarrie Industrial Gases IPO follows this timeline:
- IPO Opens: June 24, 2025
- IPO Closes: June 26, 2025
- Allotment Finalization: June 27, 2025
- Refund Initiation: June 30, 2025
- Demat Credit: June 30, 2025
- Listing Date: July 1, 2025 (BSE, NSE)
Investors must apply by June 26, 2025, and can check allotment status on June 27, 2025, via Kfin Technologies’ portal. The tentative listing on July 1, 2025, will reveal whether the IPO delivers the anticipated 6–6.75% listing gains based on current GMP trends.
FAQ 4: Should You Invest in the Ellenbarrie Industrial Gases IPO?
Deciding whether to invest in the Ellenbarrie Industrial Gases IPO depends on your risk appetite and investment horizon. Pros: EIGL’s strong financials (₹348.43 crore revenue, ₹83.29 crore PAT in FY25), diversified portfolio, and debt reduction plans make it appealing for long-term investors. SBI Securities recommends “Subscribe” due to its attractive valuation (P/E 62.88x vs. Linde India’s 67.7x). Cons: The 31% subscription on Day 2 and lack of QIB bids suggest muted demand, while sector risks like regulatory challenges and input cost volatility exist. Consult a financial advisor and review the Red Herring Prospectus (RHP) before applying.
FAQ 5: How Does Ellenbarrie’s IPO Compare to Other IPOs This Week?
The Ellenbarrie Industrial Gases IPO (31% subscribed on Day 2, GMP ₹24–₹27) competes with other mainboard IPOs like HDB Financial Services (21% on Day 1, GMP ₹100) and Globe Civil Projects (11x on Day 2, GMP ₹13). Ellenbarrie’s moderate subscription and GMP suggest stable but not explosive listing gains compared to HDB’s higher buzz due to HDFC Bank backing. Its industrial gas focus offers long-term growth potential, unlike real estate (Kalpataru) or EPC (Globe Civil). Investors should weigh EIGL’s financial stability against market sentiment for other IPOs.
Conclusion: Is Ellenbarrie Industrial Gases IPO a Smart Investment?
The Ellenbarrie Industrial Gases IPO Day 2 subscription of 31%, coupled with a GMP of ₹24–₹27, paints a picture of cautious optimism. While retail and NII interest is growing, the lack of QIB participation and moderate GMP suggest modest listing gains of 6–6.75%. However, EIGL’s strong financials, diversified portfolio, and strategic expansion plans make it a compelling choice for long-term investors.
Before applying, review the Red Herring Prospectus, assess subscription trends on the final day (June 26, 2025), and consult a financial advisor. Have thoughts on the Ellenbarrie Industrial Gases IPO? Share your insights in the comments or subscribe to our newsletter for the latest IPO updates!