Stallion India Fluorochemicals is gearing up to launch its Initial Public Offering (IPO) on January 16, 2025, with an aim to raise Rs 199.45 crore. The offering will close on January 20, 2025, and the IPO shares are expected to list on both BSE and NSE on January 23, 2025.
The IPO includes a fresh issue of 1,78,58,740 equity shares, along with an offer for sale in which promoter Shazad Sheriar Rustomji will sell up to 43,02,656 shares. The shares will be priced in the range of Rs 85-90 each, with a lot size of 165 shares, meaning investors must apply for at least 165 shares, worth Rs 14,850. Retail investors can bid for a maximum of 2,145 shares (13 lots), totaling Rs 1,93,050.
Grey Market Activity
As of January 15, 2025, Stallion India’s shares were trading at a premium in the grey market, priced around Rs 123 each. This represents a grey market premium (GMP) of Rs 33, which is roughly 36.7% above the upper end of the IPO price band.
IPO Proceeds and Use of Funds
The proceeds from the fresh issue will primarily be used to meet Stallion India’s working capital needs and fund capital expenditures for its facilities in Khalapur (Maharashtra) and Mambattu (Andhra Pradesh). These investments will support the company’s semiconductor, specialty gas debulking and blending, and refrigerant facilities. The company will not receive any proceeds from the offer for sale, as these will go to the promoter selling shareholder after expenses and taxes.
Financial Performance
Stallion India has shown significant growth, reporting a profit of Rs 14.78 crore in FY24, a rise of 51.58% from Rs 9.75 crore in FY23. Revenue from operations increased to Rs 233.23 crore in FY24, up 3.42% from the previous year. The company’s expenses were also slightly higher, totaling Rs 214.95 crore, an increase of 0.87%.
About Stallion India Fluorochemicals
Stallion India, founded in 2002 by Shazad Sheriar Rustomji, specializes in refrigerants, industrial gases, and related products. The company operates facilities in Maharashtra, Rajasthan, Haryana, and Delhi, focusing on debulking, blending, processing refrigerants, and selling pre-filled cans and small cylinders.
The IPO aims to boost the company’s growth and expand its operations further, offering investors an opportunity to participate in its future success.
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