Upcoming IPO: Stallion India Fluorochemicals IPO price band set at ₹85-90 apiece; issue opens on January 16

Upcoming IPO: Stallion India Fluorochemicals IPO price band: The Stallion India Fluorochemicals Limited IPO price band has been fixed in the range of ₹85 to ₹90 per equity share of the face value of ₹10. The Stallion India Fluorochemicals IPO date of subscription is scheduled for Thursday, January 16, and will close on Monday, January 20. The allocation to anchor investors for the Stallion India Fluorochemicals IPO is scheduled to take place on Wednesday, January 15.

The Stallion India Fluorochemicals IPO lot size is 165 equity shares and in multiples of 165 equity shares thereafter. Stallion India IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, Stallion India IPO basis of allotment of shares will be finalised on Wednesday, January 24, and the company will initiate refunds on Thursday, January 25, while the shares will be credited to the demat account of allottees on the same day following refund. Stallion India share price is likely to be listed on BSE and NSE on Monday, January 29.

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Tentatively, Stallion India IPO basis of allotment of shares will be finalised on Tuesday, January 21, and the company will initiate refunds on Wednesday, January 22, while the shares will be credited to the demat account of allottees on the same day following refund. Stallion India share price is likely to be listed on BSE and NSE on Thursday, January 23.

Stallion India Fluorochemicals specializes in the distribution of refrigerants and industrial gases, along with associated products. The company’s primary activities involve debulking, blending, and processing refrigerants and industrial gases, in addition to marketing pre-filled cans. It caters to a wide array of sectors, including air conditioning and refrigeration, firefighting, semiconductor production, automobile manufacturing, pharmaceuticals and healthcare, glass bottle manufacturing, aerosol production, and spray foam applications. The company operates four facilities.

As per the red herring prospectus (RHP), the company’s listed peers are Navin Flourine International Ltd (with a P/E of 70.82), SRF Ltd (with a P/E of 49.30), and Gujarat Fluorochemicals Ltd (with a P/E of 108.36).

In the fiscal year 2024, the company recorded a revenue from operations amounting to ₹23,323.58 Lakhs, an EBITDA of ₹2,670.48 Lakhs, and a PAT of ₹1,478.83 Lakhs. As of September 24, the company has generated a revenue from operations of ₹14,073.15 Lakhs, with an EBITDA of ₹2,553.76 Lakhs and a PAT of ₹1,656.51 Lakhs.

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Stallion India Fluorochemicals IPO details

Stallion India IPO, which is worth ₹199.45 crore, comprises a fresh issue of ₹160.73 crore, and an offer-for-sale (OFS) of 43,02,656 equity shares by the promoter.

The company plans to use the net proceeds from the IPO to support incremental working capital needs, fund capital expenditures for its semiconductor and specialty gas debulking and blending facility located in Khalapur, Maharashtra, finance capital expenditures for its refrigerant debulking and blending facility in Mambattu, Andhra Pradesh, and for various corporate purposes. Anchor bidding is set to commence on January 15, 2025, and the issuance will conclude on January 20, 2025.

“As we prepare for our IPO, we take great pride in reflecting on our journey and accomplishments. Operating from four facilities, our company serves gases to multiple industries and has built a strong reputation among clients through consistent service and reliability.

The IPO funding will support capital expenditure at our Khalapur, Maharashtra, and Mambattu, Andhra Pradesh plants for semiconductor and specialty gas debulking and blending, as well as refrigerant debulking and blending facilities and addressing incremental working capital needs. These investments position us to drive a new phase of growth and expansion,” said Shazad Sheriar Rustomji, Chairman & Managing Director.

The book running lead manager for the issuance is Sarthi Capital Advisors Private Ltd, while the Registrar for the issuance is Bigshare Services Private Ltd.

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