31 January 2025, 03:12 PM
Ellenbarrie Industrial Gases has received markets regulator Securities and Exchange Board of India’s (SEBI) clearance to raise funds through initial public offering (IPO). The company’s IPO is a combination of fresh issue of equity shares valued at Rs 400 crore and an offer of sale (OFS) of up to 1.44 crore equity shares by promoters.
Proceeds from the fresh issue to the tune of Rs 176.8 crore will be used for payment of debt, Rs 130 crore will be utilised for setting up an air separation unit at Uluberia-II plant and the remaining funds will be used for general corporate purposes. Motilal Oswal Investment Advisors, IIFL Securities, and JM Financial are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.
Ellenbarrie is one of the oldest operating industrial gas companies in India. The company manufactures and supplies industrial gases, including oxygen, carbon dioxide, nitrogen, helium, hydrogen and nitrous oxide, as well as synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas and speciality gases catering to a wide range of end-use industries.