Ellenbarrie Industrial Gases IPO Day 2: Subscriptions Cross 30%, Retail Response Improves
By Shishta Dutta | Updated at: Jun 25, 2025 05:59 PM IST
Kolkata, June 25, 2025, 16:45 IST—Ellenbarrie Industrial Gases Limited’s IPO showed signs of improvement on the second day of bidding, with the total subscription reaching 31% by 4:45 PM. Out of the 1.51 crore shares on offer, the IPO received bids for 46.89 lakh shares.
Category-Wise Subscription Status (As of June 25, 16:45)
| Category | Shares Offered | Shares Bid For | Subscription (%) |
|---|---|---|---|
| Qualified Institutional Buyers | 41,89,260 | 7,289 | 0.00% |
| Non-Institutional Investors | 32,75,917 | 18,93,475 | 57.78% |
| – Above ₹10 lakh bid | 21,83,945 | 14,27,016 | 65.34% |
| – ₹2 lakh to ₹10 lakh bid | 10,91,972 | 4,66,459 | 42.71% |
| Retail Individual Investors | 76,43,806 | 27,89,134 | 36.49% |
| Total | 1,51,08,983 | 46,89,898 | 31.04% |
Retail investor participation has strengthened significantly. Nearly 23.4 lakh shares were bid at the cut-off price, accounting for 84% of the total RII bids.
Price-Wise Bid Analysis
Investor interest continues to lean toward the upper end of the price band, with over 46.6 lakh bids placed at ₹400 per share or higher.
| Price Level (₹) | Total Bids (Shares) |
|---|---|
| ₹400 | 46,61,408 |
| Cut-off | 23,38,733 |
| Total Bids | 46,93,376 |
Ellenbarrie Industrial Gases IPO Details Snapshot
| Detail | Information |
|---|---|
| IPO Closes | June 26, 2025 |
| Price Band | ₹380 – ₹400 |
| Total Issue Size | 1,51,08,983 shares |
| Lead Managers | Motilal Oswal, IIFL, JMFL |
| Registrar | KFin Technologies |
Observations
- QIBs remain largely inactive, contributing only 7,289 bids so far.
- NII category has shown solid progress, especially bids above ₹10 lakh.
- The retail segment is expected to drive final-day momentum.
Outlook
There is one day to go, and the IPO’s survival will likely depend on the QIB interest, which will likely be realized on the final day. Retail and high net-worth interest point to a better mood, but institutional engagement continues to define the entire subscription.
Market watchers will closely monitor anchor investor activity and bulk deals as Day 3 approaches.
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