Ellenbarrie Industrial Gases IPO Soars: Stock Gains 35%

Ellenbarrie Industrial Gases Ltd's shares surged over 35% above the Rs 400 issue price as they debuted at Rs 492 on the BSE. The IPO, attracting 22.19 times subscription, combined a fresh issue and an offer-for-sale. Funds will address debt, build a plant, and facilitate corporate endeavors.

Ellenbarrie Industrial Gases Ltd witnessed a robust debut in the stock market, with shares closing over 35% above the issue price of Rs 400.

Listed at Rs 492 on the BSE, the stock hit the upper circuit at Rs 541.20, reflecting investor enthusiasm. Its market valuation soared to Rs 7,627.43 crore.

The Rs 852-crore IPO was oversubscribed 22.19 times, and proceeds will address debt, fund a new plant, and support corporate activities.

(With inputs from agencies.)