Ellenbarrie, Globe Civil Projects make strong listing gains of 33% 

 Ellenbarrie Industrial Gases is emerging as the top performer with a 33.65 per cent premium over its issue price. 
| Photo Credit:
FRANCIS MASCARENHAS

Four companies made their stock market debut on the mainboard of the BSE and the National Stock Exchange on Tuesday with industrial gas manufacturer Ellenbarrie Industrial Gases emerging as the top performer with a 33.65 per cent premium over its issue price.

Ellenbarrie Industrial Gases hit the upper circuit limit at ₹534.60, marking a 10 per cent intraday gain after opening at ₹486 against its IPO price of ₹400 on the NSE. The company’s ₹852-crore public offering had attracted 22.19 times subscription, reflecting strong investor interest in the industrial gases sector. The Kolkata-based manufacturer supplies oxygen, nitrogen, acetylene and specialty gases across diverse industries including steel, pharmaceuticals and healthcare.

Globe Civil Projects also delivered strong debut returns, closing at ₹94.46 after listing at ₹90 against its issue price of ₹71. The New Delhi-based infrastructure contractor’s shares gained 33.10 per cent from the issue price, supported by its ₹893-crore order book and recent profit growth. The company’s ₹119-crore IPO had received an overwhelming response with 86 times subscription.

Real estate developer Kalpataru Ltd showed modest gains, closing at ₹432.95 after a flat listing at ₹414. The Mumbai-based company’s shares gained 4.42 per cent from the issue price during the trading session. Kalpataru’s ₹1,590-crore IPO proceeds are primarily earmarked for debt repayment and general corporate purposes.

Raymond Realty faced a challenging debut, declining 3.88 per cent to close at ₹999 against its discovered price of ₹1,039.30. The stock opened at ₹1,000 following its demerger from Raymond Limited, with shareholders receiving one Raymond Realty share for every Raymond share held.

Together, all four companies added about ₹23,650 crore in market cap, with Kalpataru being the largest with over ₹8,900 crore.

Market analysts noted the strong performance of infrastructure and industrial gas stocks, while real estate names showed mixed results. The listings come amid continued investor appetite for growth stories in infrastructure and industrial sectors.

Meanwhile, today also witnessed another four companies listed on the SME platforms of the BSE and the National Stock Exchange. Shri Hare-Krishna Sponge Iron shares listed on the NSE-Emerge at ₹64.80 against the IPO price of ₹59 and settled the day with a gain of about 9.40 per cent at ₹64.55.

Abram Foods closed 3 per cent lower at ₹94.92 against the IPO price of ₹98; AJC Jewel Manufacturers was flat at ₹95.39 (₹95) and Icon Facilitators slumped 6 per cent to ₹85.50 (₹91).

Published on July 1, 2025