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Stallion India IPO opens on January 16; check GMP, dates, other key details

As investors await the opening of the public offering, here are the key details of the Stallion India IPO, as outlined in the company's Red Herring Prospectus (RHP)

IPO

Kumar Gaurav New Delhi

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Stallion India IPO: The initial public offering (IPO) of Stallion India Fluorochemicals is set to open for public subscription on Thursday, January 16, 2025. At the upper end, the company seeks to raise Rs 199.45 crore from the offering. The bidding for anchor investors is scheduled to take place today, Wednesday, January 15, 2025.
 
As investors await the opening of the public offering, here are the key details of the Stallion India IPO, as outlined in the company's Red Herring Prospectus (RHP):
 
Stallion India IPO size, price band
The offering comprises a fresh issue of 1,78,58,740 equity shares and an offer for sale with promoter Shazad Sheriar Rustomji offloading up to 43,02,656 equity shares. Stallion India IPO will be available at a price band of Rs 85-90 and a lot size of 165 shares. Accordingly, investors can bid for a minimum of 165 shares and in multiples thereof.
 
 
A retail investor can bid for a minimum of one lot or 165 shares at Rs 14,850 or up to 13 lots or 2,145 shares at Rs 1,93,050.
 
Stallion India IPO grey market premium (GMP)
The unlisted shares of Stallion India were commanding a solid premium in the grey markets on Wednesday, January 15, 2025. Sources tracking unofficial market activities revealed that the company's shares were quoted trading at around Rs 123 apiece, reflecting a grey market premium (GMP) of Rs 33 or 36.67 per cent over the upper end of the issue price.  Also Check: Sat Kartar Shopping IPO Allotment
 
Stallion India IPO allotment, listing schedule
Stallion India IPO will tentatively remain available for public subscription till Monday, January 20, 2025. Following the closure of the subscription window, the basis of allotment of Stallion India IPO shares is expected to be finalised on Tuesday, January 21, 2025. The successful allottees will receive the company’s shares on Wednesday, January 22, 2025, in their demat accounts.
 
The tentative listing of the Stallion India shares is likely to take place on Thursday, January 23, 2025. The company’s shares will list on BSE and the National Stock Exchange (NSE).
 
Stallion India IPO objective
Stallion India, in its RHP, said that it will not receive any proceeds from the offer for sale. “The promoter selling shareholder will be entitled to the proceeds of the offer for sale after deducting its respective proportion of the offer-related expenses and relevant taxes thereon.”
 
However, the company intends to use the proceeds from the fresh issue for funding incremental working capital requirements of the company, as well as for funding capital expenditure requirements for its semiconductor and specialty gas debulking and blending facility (Khalapur, Maharashtra). The company will also use the proceeds for funding capital expenditure requirements for its refrigerant debulking and blending facility (Mambattu, Andhra Pradesh) and for general corporate purposes.  Also Read: Laxmi Dental IPO
 
 Stallion India financial details
Stallion India's profit rose to Rs 14.78 crore in FY24, up 51.58 per cent from Rs 9.75 crore reported in FY23.
 
The company's revenue from operations jumped to Rs 233.23 crore, up 3.42 per cent from Rs 225.50 crore reported in FY23. The company's expenses also advanced to Rs 214.95 crore in FY24, up 0.87 per cent from Rs 213.08 crore reported in FY23.
 
About Stallion India Fluorochemicals
Stallion India Fluorochemicals, commonly known as Stallion, is a Mumbai-based company incorporated on September 5, 2002, by Shazad Sheriar Rustomji, who currently serves as the Chairman & Managing Director and is also one of the promoters of the company. The company is into the business of selling refrigerants and industrial gases and related products. Stallion India's primary business consists of debulking, blending, and processing refrigerants and industrial gases, and selling pre-filled cans and small cylinders/containers. It has four facilities located in Khalapur (Maharashtra), Ghiloth (Rajasthan), Manesar (Haryana), and Panvel (Maharashtra).
 

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First Published: Jan 15 2025 | 12:33 PM IST

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