Stallion India Fluorochemicals IPO Day 2: 31x subscribed, GMP, status, review

Stallion India Fluorochemicals Ltd's initial public offering (IPO) opened for subscription on Friday, January 16. The IPO aims to raise ₹199.45 crore and is available for trading on both the BSE and NSE.

By the end of the first day, the IPO was oversubscribed by 7.08 times, according to BSE data. The retail investor portion was subscribed 9.69 times, while the non-institutional investors’ part was subscribed 10.36 times. However, the portion reserved for qualified institutional buyers (QIBs) was only 4% booked.

Stallion India Fluorochemicals, which mainly deals with the distribution of refrigerants and industrial gases, plans to use the funds raised from the IPO for several purposes. The company will use part of the money to increase working capital, fund the expansion of its semiconductor and specialty gas blending facility in Khalapur, Maharashtra, and finance another expansion project for its refrigerant facility in Mambattu, Andhra Pradesh. Some of the funds will also cover general corporate expenses.

Before the IPO opened, Stallion India secured ₹59.83 crore from six institutional investors through its anchor book, a process where some shares are sold to investors before the IPO officially begins. The IPO is offering 2,21,61,396 equity shares with a face value of ₹10 each, priced between ₹85 and ₹90 per share.

Sarthi Capital Advisors Private Limited is the lead manager for the IPO, and Bigshare Services Private Limited is handling the registrar duties. The IPO is expected to give investors a chance to be part of a growing company in the industrial gas sector, with its plans for future growth through new facilities and capital expenditures.

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