Ellenbarrie Industrial Gases Lists with 33% Premium, Hits Upper Circuit on Debut
By Ankur Chandra | Updated at: Oct 30, 2025 12:24 PM IST
Mumbai, 01 July 2025: Ellenbarrie Industrial Gases Limited made a commanding entrance on the stock exchanges today, listing at ₹486 and swiftly touching the 10% upper circuit limit of ₹534.60, a 33.65% gain over Ellenbarrie Industrial IPO issue price of ₹400. As of 2:39 PM, the stock remains frozen at the upper band with no sellers, reflecting strong investor appetite on Day 1 of trade.
Oversubscribed IPO and QIB Backing Fuel a Robust Market Debut
The impressive listing follows an overwhelmingly subscribed Initial Public Offering (IPO) that was oversubscribed 22.19 times. Notably, Qualified Institutional Buyers (QIBs) led the demand with a subscription of 64.23 times, followed by Non-Institutional Investors (NIIs) at 15.21 times, underscoring significant institutional confidence in the company’s growth prospects.
Real-Time Listing Day Performance (As of 14:39 IST)
| Detail | Data |
|---|---|
| Issue Price | ₹400 |
| Opening Price | ₹486 |
| Day’s High | ₹534.60 |
| Day’s Low | ₹486 |
| Last Traded Price | ₹534.60 |
| Price Change | +₹134.60 |
| % Change vs Issue Price | +33.65% |
| Traded Volume | 1.62 crore shares |
| Turnover | ₹824.24 crore |
| VWAP (Volume Weighted Avg) | ₹508.93 |
| Market Cap | ₹7,534.42 crore |
| Free Float Market Cap | [Data NA] |
| 52-Week Range (Same Day) | ₹486 – ₹534.60 |
| Applicable Margin Rate | 25% |
No Sellers, Strong Buy Orders Indicate Continued Upward Pressure
At the time of reporting, buy orders for 34,01,038 shares remain unexecuted, while the sell quantity stands at zero, highlighting that the stock remains firmly locked in its upper circuit. Deliverable volume stands at 57.97%, suggesting long-term interest among investors rather than speculative trading.
IPO Proceeds Set to Fund Expansion and Strengthen Balance Sheet
The IPO consisted of a fresh issue of ₹400 crore and an offer for sale (OFS) of 1.13 crore shares, which included 63.94 lakh shares allocated to anchor investors. The raised capital will be used to reduce debt and fund the establishment of a new air separation unit at Uluberia-II, West Bengal, signalling expansion in the industrial and medical gases segment.
Investor Optimism High Amid Sector Growth and Institutional Demand
With tailwinds in industrial and healthcare-focused gas supply chains, Ellenbarrie’s strong listing is underpinned by rising sectoral demand, aggressive institutional interest, and positive market sentiment. If the stock remains locked at the upper limit through closing, it would mark one of the strongest first-day listings this quarter.
Market watchers will closely observe institutional trading behaviour, delivery volumes, and post-listing movement, as the stock transitions from listing momentum to regular trading in the coming sessions.
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