Ellenbarrie Industrial Gases IPO
Ellenbarrie Industrial Gases Limited (ELLEN) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 01 July 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +14.7% (likely range -4% to +27%), day's high +15.9%, chance of a gain 82%. Actual: +21.5% at the open, +33.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 41,89,260 | 26,90,79,281 | 64.2x | |
| NII (HNI) total | 32,75,917 | 4,98,12,434 | 15.2x | |
| Big NII (above ₹10 lakh) | 21,83,945 | 3,71,18,400 | 17.0x | |
| Small NII (₹2-10 lakh) | 10,91,972 | 1,26,94,034 | 11.6x | |
| Retail | 76,43,806 | 1,63,92,110 | 2.14x | |
| Total | 1,51,08,983 | 33,52,83,825 | 22.2x |
Bids on NSE and BSE together, as published by NSE, as of 26 Jun 2025, 07:00 PM. Shares offered exclude the anchor portion. 4% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Ellenbarrie Industrial Gases's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| R R KabelSep 2023 | 52.3x | 13.2x | 2.13x | 18.7x | ₹1,964 Cr | +14.0% | +17.2% |
| Concord BiotechAug 2023 | 67.7x | 17.0x | 3.78x | 24.9x | ₹1,551 Cr | +21.5% | +33.3% |
| Uniparts IndiaDec 2022 | 67.1x | 17.9x | 4.63x | 25.3x | ₹836 Cr | -0.3% | 0.0% |
| Medi Assist Healthcare ServicesJan 2024 | 40.1x | 14.9x | 3.19x | 16.2x | ₹1,172 Cr | +10.1% | +23.9% |
| Aadhar Housing FinanceMay 2024 | 72.8x | 16.5x | 2.46x | 25.5x | ₹3,151 Cr | 0.0% | +9.1% |
| JNK IndiaApr 2024 | 75.7x | 23.3x | 4.11x | 28.1x | ₹651 Cr | +49.6% | +71.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and JM Financial | 11 | +5.7% | 64% |
Offer documents (NSE)
Frequently asked
What is the Ellenbarrie Industrial Gases IPO price band and lot size? ₹380–400 per share, with a lot of 37 shares, so the smallest retail bid is ₹14,800.
How many times has it been subscribed? 22.2x overall: QIB 64.2x, NII 15.2x, retail 2.14x.
How did it list? It opened at ₹486, +21.5% against the issue price of ₹400, and closed its first day +33.6%.
