 "Stallion India Fluorochemicals lists at 33% premium, mirrors GMP trend")
Shares of refrigerant and industrial gases seller Stallion India Fluorochemicals made a decent D-Street debut on Thursday, January 23, 2025, following the completion of its IPO (Initial Public Offering) rounds. Stallion India shares listed at Rs 120 apiece on the BSE, reflecting a premium of Rs 30 or 33.33 per cent against the issue price of Rs 90.
Similarly, on the National Stock Exchange (NSE), Stallion India shares listed at Rs 120 apiece, showing a premium of Rs 20 or 33.33 per cent against the issue price.
With the Stallion India IPO listing, investors who were allotted the company's shares made a profit of around Rs 20 per share or over 33 per cent. The Stallion India IPO listing mirrored its grey market expectations, as the company’s shares were trading at Rs 125 in the grey market, reflecting a premium of Rs 30 or 38.89 per cent over the issue price.
Stallion India IPO details
Stallion India IPO was available in a price band of Rs 85-90 per share, with a lot size of 165 shares. The public offering was open for subscription from Thursday, January 16, 2025, to Monday, January 20, 2025.
By the end of the subscription period, the Rs 199.45 crore offering of Stallion India received bids for 2,92,13,78,295 shares against the 1,55,12,978 shares offered, resulting in an oversubscription of 188.32 times, as per the data available on the BSE.
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Non Institutional Investors (NIIs) placed the highest bids, oversubscribing their reserved quota by 422.35 times, followed by Qualified Institutional Buyers(QIBs), who bid for 172.93 times their allocated quota, and Retail Individual Investors (RIIs), who subscribed to 96.81 times.
The basis of allotment of Stallion India IPO shares was finalised on Tuesday, January 21, 2025.
Sarthi Capital Advisors Private Limited served as the book-running lead manager for the Stallion India IPO, while Bigshare Services Pvt Ltd has been appointed as the registrar for the issue.
About Stallion India Technology
Incorporated in 2002, Stallion India Fluorochemicals Limited specializes in the sale of refrigerant and industrial gases, along with related products. The company’s core operations include debulking, blending, and processing these gases, as well as selling pre-filled cans and small cylinders/containers.
Stallion operates four strategically located plants: Khalapur and Panvel in Raigad (Maharashtra), Ghiloth in Alwar (Rajasthan), and Manesar in Gurugram (Haryana).
The company focuses on fluorochemical gases, which are primarily used as refrigerants. These products serve a wide range of industries, including semiconductor manufacturing, automotive, electronics, pharmaceuticals, healthcare, fire safety, spray foam production, glass bottle manufacturing, and aerosol production.