Ellenbarrie industrial Gases Sees Profit-Taking After Strong Market Entry
Kolkata, India – July 2, 2025 – Shares of Ellenbarrie Industrial Gases Ltd. experienced a pullback today as investors capitalized on gains following the company’s successful initial public offering (IPO) earlier this week. Trading on the national Stock Exchange (NSE) at 11:28 AM local time, the stock reached Rs 522.25, representing a 2.31% decrease from its opening price. Despite this dip,the share price remains significantly above the IPO price of Rs 400,currently boasting a premium exceeding 30%. The company’s market capitalization is valued at approximately Rs 7,200 crore.
Initial Surge and Subsequent Correction
Ellenbarrie commenced trading on July 1st, listing at Rs 492 on the Bombay Stock exchange (BSE) and Rs 486 on the NSE – a gain of over 23% and 21% respectively compared to the IPO price. The stock quickly climbed to a 52-week high of Rs 563 before encountering selling pressure in subsequent trading sessions. This pattern is not uncommon for newly listed companies, as early investors frequently enough seek to realize profits.
IPO Proceeds to Fuel Growth and Reduce Debt
The company has detailed plans for utilizing the funds raised through its IPO. Approximately Rs 210 crore will be allocated to debt repayment or prepayment, while Rs 104.5 crore will be invested in establishing a 220 TPD (tons per day) air separation unit at its Uluberia-II facility.The remaining capital will be used for general corporate purposes. This strategic financial restructuring is designed to lower the company’s