Ellenbarrie Industrial Gases IPO: GMP, Overview, and Price

Ellenbarrie Industrial Gases IPO – Complete Overview

Here you find upcoming ipo complete overview about Ellenbarrie Industrial Gases IPO - Ellenbarrie Industrial Gases Limited (EIGL) is launching its IPO to raise funds through a combination of fresh issue and offer for sale. Established in 1973, Ellenbarrie is among the oldest operating industrial gas companies in India. The firm makes and delivers gas products-oxygen, nitrogen, argon, helium, hydrogen, acetylene, carbon dioxide-either in bulk, as packs, or right at customer sites. It already holds a solid market presence in East and South India, topping sales charts in West Bengal, Andhra Pradesh, and Telangana.

EIGL also provides engineering services for air separation units and healthcare gas pipeline systems.

 

Customer Types Served by EIGL

Ellenbarrie Industrial Gases Limited (EIGL) supplies industrial gases to different types of customers, based on how they need the gas:

• Bulk Customers: They get large amounts of gas delivered in special cryogenic tankers.

• Package Customers: These customers receive gas in smaller quantities, packed in cylinders.

• Onsite Customers: EIGL sets up gas supply systems directly at their sites and also handles operations and maintenance.
  
  

Industries EIGL (Ellenbarrie Industrial Gases Limited) Works With-

 

EIGL serves a wide range of industries across the country:

• Steel: Supplies gases to big names like Jairaj Ispat and Rashtriya Ispat Nigam.

• Pharma & Chemicals: Works with companies like Dr. Reddy’s Labs and Laurus Labs.

• Healthcare: Partners with hospitals and medical institutes like AIIMS, Chittaranjan National Cancer Institute, and others in West Bengal.

• Engineering & Infrastructure: Provides gases to companies such as GMM Pfaudler and Air India Engineering.

• Railways, Aviation & Space: Supplies gases to railway workshops, Jupiter Wagons, and even a space research organization.

• Petrochemicals: Works with major public sector oil marketing companies.

• Defence: Supplies gases to Hindustan Shipyard and other defence-related setups.

 

 

Ellenbarrie Industrial Gases Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	845.97	672.54	551.27
Total Revenue	348.43	290.20	223.71
PAT	83.29	45.29	28.14
Net Worth	333.62	250.15	203.32
Reserves & Surplus	467.17	403.35	365.51
Borrowings	245.30	176.90	101.10

Cash Flows

(Amount in millions)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	42.75	437.47	387.47
Net Cash Flow Investing Activities	(569.30)	(1,217.10)	(1,142.34)
Net Cash Flow Financing Activities	519.20	674.84	865.98

 

Revenue Bifurcation

Segment-wise Revenue Bifurcation

Sector-wise Revenue Bifurcation

 

Objectives of the Issue

EIGL intends to use the net proceeds from the fresh issue for:

• Repayment/prepayment of borrowings

• Setting up a 220 TPD air separation unit at Uluberia-II plant

• General corporate purposes
  
  

Peers Comparison of Ellenbarrie Industrial Gases Limited 

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Ellenbarrie Industrial Gases Limited	2	6.36	67.69
Linde India Limited	10	53.33	140.74

 

 

Ellenbarrie Industrial Gases IPO Strengths

• Over 50 years of operational history

• Market leadership in key states

• Broad product portfolio including medical oxygen

• Ability to respond to emergencies (COVID relief role)

• Efficient plant operations with scalable facilities

• Robust distribution with high number of tankers and cylinders

 

Ellenbarrie Industrial Gases IPO Weaknesses

• Small market share (2.68%) compared to larger peers

• High dependence on certain regions

• No prior dividend history

• Limited presence in North and West India

 

Ellenbarrie Industrial Gases IPO Timetable (Tentative)

The Ellenbarrie Industrial Gases Limited IPO date  of opening is from Jun 24 to Jun 26, 2025, allotment on Jun 27, refund initiation on Jun 30, and listing on July 1, 2025.

Events	Date
IPO Opening Date	Jun 24, 2025
IPO Closing Date	Jun 26, 2025
IPO Allotment Date	Jun 27, 2025
Refund Initiation	Jun 30, 2025
IPO Listing Date	July 1, 2025

 

Ellenbarrie Industrial Gases Limited IPO Details 

The IPO with a Face Value of Rs. 2 per share offers a total issue size of 2,13,13,130 Shares (Rs.852.53 Cr).

IPO Opening & Closing Date	24 Jun, 2025 to 26 Jun, 2025
Face Value	Rs. 2 per Share
Issue Price	Rs. 380 to Rs. 400 per Share.
Lot Size	37 Shares
Issue Size	2,13,13,130 Shares (Rs.852.53 Cr).
Offer for Sale	1,13,13,130  Shares (Rs.852.53 Cr).
Fresh Issue	1,00,00,000 shares (Rs. 452.53 Cr)
Listing at	NSE, BSE
Issue Type	Book building Issue
Registrar	Kfin Technologies Limited

 

 

Ellenbarrie Industrial Gases IPO Promoters and Management

• Promoters:

• Mr. Padam Kumar Agarwala

• Mr. Varun Agarwal

Pre-Issue Promoter Shareholding	86.96%
Post-Issue Promoter Shareholding	around 66–68%, depending on final allocation.

Key Management:

• • Padam Kumar Agarwala – Chairman & MD

  • Varun Agarwal – Joint MD

  • K. Srinivas Prasad – CFO

  • Aditya Keshri – Company Secretary

 

Find the Complete Overview about - Kalpataru Limited IPO

 

Dividend Policy

The firm has skipped paying a dividend in the past few years. Any payout going forward will hinge on earnings, available cash, and the boards growth agenda..

 

Conclusion

Ellenbarrie Industrial Gases IPO is taking its shares public, giving investors a chance to back a well-run, fast-growing firm that has stood the test of time and serves the east coast with flair. Although its slice of the market is modest next to titans such as Linde or Inox Air, EIGL still posts solid profits, healthy margins, and lean operations-hallmarks that long-term investors in manufacturing and healthcare gases should not overlook.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.