Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?
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Shares of Ellenbarrie Industrial Gases surged 10% on Tuesday following their market debut, trading at Rs 541.20 on the BSE and Rs 534.60 on the NSE. The stock listed at a sharp premium that outpaced even the most optimistic grey market whispers. The Kolkata-based company, which manufactures and supplies industrial, medical, and specialty gases, listed at Rs 492 on the BSE, at a 23% premium over the IPO issue price of Rs 400. On the NSE, the shares debuted at Rs 486, reflecting a premium of 21.5%. Both figures topped the grey market premium estimate of Rs 457. The Rs 852 crore initial public offering, comprising a fresh issue of Rs 400 crore and an offer for sale of Rs 452.53 crore, drew significant investor interest, with an overall subscription of 22.19 times. According to NSE data, the IPO received bids for 33.52 crore shares against 1.51 crore shares on offer. Institutional investors led the charge, with Qualified Institutional Buyers ...