Ellenbarrie Industrial Gases raises Rs 256 crores from Anchor Investors

Mumbai, June 23, 2025: Ellenbarrie Industrial Gases has garnered Rs. 255.76 crores from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, June 24, 2025. The company informed the bourses that it allocated 63,93,938 equity shares at Rs. 400 per share on Monday, June 23, 2025, to anchor investors.

Some of the marquee Institutions that participated in the anchor includes Nippon India Mutual Fund, HDFC MUTUAL FUND, Axis Mutual Fund, HDFC Life Insurance company Limited, TATA MUTUAL FUND, WHITEOAK etc

Last week, Ellenbarrie issued 62,50,000 equity shares to Motilal Oswal Mutual Fund through a secondary sale (pre-IPO placement) at a price of Rs 400 per share (including a premium of Rs 398), in consultation with the lead bankers. The transaction, amounting to Rs 250 crore, represents 4.43% of the company’s pre-offer share capital.

Out of the total allocation of 63,93,938 equity shares to the anchor investors, 36,92,333 equity shares were allocated to 8 domestic mutual funds through a total of 16  schemes, i.e. 57.75% of the Total Anchor Book Size.

Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, JM Financial Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.

IPO Details

The IPO is a mix of fresh issue of up to Rs 400 crore and an offer for sale up to 56,56,565 equity shares by Padam Kumar Agarwala, and up to 56,56,565 equity shares by Varun Agarwal. 

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Tuesday, June 24, 2025, and closes on Thursday, June 26, 2025. The price band for the Offer has been determined at Rs 380 – Rs 400 per equity share. 

The IPO will fetch Rs 852.53 crore at the upper end of the price band. 

Investors can bid for a minimum of 37 equity shares and in multiples of 37 equity shares thereafter.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders.