Ellenbarrie Industrial Gases IPO: The IPO of Ellenbai Industrial Gasses, a company producing various gas including industrial, medical, will open for subscription on Tuesday, June 24. These IPOs will be closed on Thursday, 26 June. Ellenberry Industrial Gaise wants to raise a total of Rs 852.53 crore from this IPO, for which a total of 2,13,13,130 shares will be allotted. Under this IPO, 1,00,00,000 fresh fresh fresh will be issued, while 1,13,13,130 shares worth Rs 452.53 crore will be released through OFS.
When will the company be listed in the stock market
The company has fixed a price band of Rs 380 to Rs 400 for each stock with a face value of Rs 2 under its IPO. It will be a mainboard IPO, for which shares can be allotted to investors applying on June 27. On Monday, June 30, shares will be transferred to investors’ demat accounts and finally on Tuesday, July 1, the company will be listed in the stock market.
Where will the company use the money received from IPO
Out of the money received from the IPO, the company will use Rs 210 crore to pay loans. Whereas, Rs 104.50 crore will be used to set up an air separation unit at Uluberia-II plant in West Bengal. At the same time, a part of it will be spent on normal company functioning. Allenbari makes industrial gas as well as synthetic air, fire fighting gas, medical oxygen, liquid petroleum gas, welding mixture and special gas. All these meet the needs of different industries.
Disclaimer: This article has been written only for the purpose of information. Before any type of investment or before taking financial risks, consult your financial advisor. India TV will not be responsible for any type of risk.
Latest business news
