Stallion India Fluorochemicals IPO opens Tomorrow. What GMP signals ahead of subscription?

The initial public offering (IPO) of refrigerants supplier Stallion India Fluorochemicals is set to open for public subscription on January 16 and will close on January 20. Ahead of the issue, the grey market premium (GMP) for Stallion India Fluorochemicals shares is around Rs 30-31, indicating a 33% premium over the issue price.

The company has set a price band of Rs 85-90 per share for its IPO. Stallion India plans to raise Rs 199.45 crore through initial share sale of 2.21 crore equity shares which comprises of fresh issuance of 1.78 crore equity shares worth Rs 160.73 crore, and an offer-for-sale of 43.02 lakh shares worth Rs 38.72 crore by promoter Shazad Sheriar Rustomji.

Shazad Sheriar Rustomji holds 94.6% stake in Stallion, and Geetu Yadav as a public shareholder owns 5.37% shares.


Meanwhile, the bidding for anchor investors will open for a day on January 15, Stallion India Fluorochemicals said in a statement.

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About Stallion India Fluorochemicals

Stallion India Fluorochemicals is engaged in the sale of refrigerants and industrial gases, along with related products. The company serves a diverse range of industries, including air-conditioning and refrigeration, firefighting, semiconductor manufacturing, automobile manufacturing, pharmaceuticals and medicals, glass bottle manufacturing, aerosols, and spray foam applications.

Stallion India Fluorochemicals IPO GMP

In the unlisted market, the company's shares were trading at a grey market premium of Rs 30-31 per share or around 33%.

Stallion India Fluorochemicals IPO net proceeds

Proceeds from the IPO will be used to fund working capital requirements, capital expenditure for proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

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Stallion India Fluorochemicals IPO listing and allotment date

The company will finalise IPO share allotment by January 21, while Stallion India Fluorochemicals shares were available for trading on the bourses effective January 23.

Stallion India Fluorochemicals financials

On the financial front, the company posted a profit after tax of Rs 14.79 crore and revenue from operations of Rs 233.23 crore in FY24.

Sarthi Capital Advisors is the sole book-running lead manager, while Bigshare Services is the registrar to the issue.

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