Stallion India Fluorochemicals share price: debuts at 33% premium, hits upper circuit
Stallion India Fluorochemicals stock hits upper circuit after debuting at a premium. Shares traded at ₹126 and ₹125.99 on the NSE and BSE, respectively.
The shares were listed on stock exchanges at ₹120, a 33 per cent premium over the IPO price of ₹90. The GMP indicated the stock would list at 35-40 per cent premium.
The IPO received 188.38 times subscriptions. The 199.45 crore IPO comprised of a fresh issue of 1.78 crore equity shares and an offer-for-sale (OFS) component of 43.02 lakh shares by its promoter Shazad Sheriar Rustomji.
The proceeds were to be used towards funding working capital requirements, capital expenditure for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.
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.
Sarthi Capital Advisors was the sole book running lead manager, while Bigshare Services was the registrar to the issue.
