Stallion India Fluorochemicals IPO opens tomorrow: Check GMP, price band, offer size & more

The initial public offering (IPO) of Stallion India Fluorochemicals opens for bidding on Thursday, January 16. The company is offering its shares in the range of Rs 85-90 apiece, for which investors can apply for a minimum of 165 equity shares and its multiples thereafter. The issue shall close for bidding on Monday, January 20.

Incorporated in 2002, Mumbai-based Stallion India Fluorochemicals is engaged in the business of selling refrigerant and industrial gases and related products. Its primary business includes debulking, blending and processing refrigerant and industrial gases, and selling of pre-filled cans and small cylinders/containers.

The Rs 199.45 crore-IPO of Stallion India Fluorochemicals includes a fresh share sale of Rs 160.73 crore and offer-for-sale (OFS) of up to 43.02 lakh equity shares amounting to Rs 38.72 crore. Anchor book for the issue opens on Wednesday, January 15. Last heard, the company commanded a grey market premium (GMP) of Rs 33 apiece, suggesting about 37 per cent gains for investors.

Stallion India Fluorochemicals deals in gases that are broadly classified as fluorochemicals. They are majorly used as refrigerants in various industries. It has four Plants in Khalapur, Raigad (Maharashtra), Ghiloth, Alwar (Rajasthan), Manesar, Gurugram (Haryana) and Panvel, Raigad (Maharashtra).

For the six months ended on September 30, Stallion India Fluorochemicals reported a net profit of Rs 16.57 crore with a revenue of Rs 141.53 crore. The company's net profit came in at Rs 14.79 crore with a revenue of Rs 236.23 crore in the financial year 2023-24. The market capitalization of Stallion India IPO stands at Rs 713.93 crore.

Stallion India Fluorochemicals has reserved 50 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will get 15 per cent the allocation in the net issue. Remaining 35 per cent of the net offer shall be allocated to the retail investors of the issue.

Sarthi Capital Advisors is the book running lead manager of the Stallion India IPO, while Bigshare Services is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE with Thursday, January 23 as the tentative date of listing on the bourses.