Stallion India Fluorochemicals IPO opens January 16, price band set at Rs 85-90
Stallion India Fluorochemicals IPO opens January 16 with a price band of Rs 85-90; funds to drive facility expansions, working capital, and corporate needs across key sectors.
Stallion India Fluorochemicals Limited is set to launch its initial public offering (IPO) on January 16, 2025. The price band for the issue has been fixed at Rs 85-90 per equity share of face value Rs 10. The IPO will close on January 20, 2025. Anchor investors’ bidding will take place a day prior to the opening, on January 15, 2025.
The Rs 199.45 crore IPO comprises a fresh issue of Rs 160.73 crore and an offer-for-sale (OFS) of 43,02,656 equity shares by the promoter group.
Allocation and lot size
The IPO has a minimum lot size of 165 equity shares and in multiples of 165 shares thereafter. The company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail investors.
Key dates and listing
The basis of share allotment will be finalized on January 24, 2025, and refunds will be initiated on January 25, 2025. Shares will be credited to the demat accounts of successful allottees on the same day. The IPO is expected to list on BSE and NSE on January 29, 2025.
Business operations and financials
Stallion India Fluorochemicals is involved in distributing refrigerants, industrial gases, and associated products. Its operations span debulking, blending, and marketing pre-filled cans, catering to industries like air conditioning, firefighting, automotive manufacturing, semiconductors, and healthcare. The company operates through four facilities across India.
For the fiscal year 2024, Stallion India reported revenue of Rs 233.23 crore, EBITDA of Rs 26.70 crore, and profit after tax (PAT) of Rs 14.78 crore. In the first half of FY25, the company posted revenue of Rs 140.73 crore, EBITDA of Rs 25.53 crore, and PAT of Rs 16.56 crore.
Use of proceeds
Funds raised will be allocated toward capital expenditures for semiconductor and refrigerant gas facilities in Khalapur, Maharashtra, and Mambattu, Andhra Pradesh. The company also plans to use proceeds for incremental working capital needs and general corporate purposes.
The book-running lead manager for the IPO is Sarthi Capital Advisors Private Ltd, and Bigshare Services Private Ltd is the registrar.
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