Stallion India Fluorochemicals IPO: The IPO of Stallion India Fluorochemicals is scheduled to open for subscription on January 16. This company sells refrigerators and industrial gases and their related products. The company intends to raise Rs 199.45 crore through the issue. For this, a price band of Rs 85-90 per share has been fixed. Investors will have the opportunity to invest in this IPO till January 20. The company’s shares will be listed on BSE and NSE. This IPO is going to come amid a huge fall in the stock market.
About Stallion India Fluorochemicals IPO
Under the IPO of Stallion India Fluorochemicals, 1.79 crore fresh equity shares worth Rs 160.73 crore will be issued. Additionally, 43.02 lakh equity shares worth Rs 38.72 crore will be sold through Offer for Sale (OFS) by promoter Shahzad Sheriar Rustomjee.
Shahzad Sheriar Rustamji holds 94.6 per cent stake in Stallion. At the same time, Geetu Yadav holds 5.37 percent stake as a public shareholder. This public issue will open for one day on January 15 for anchor investors. After subscription, allotment of shares to successful investors is expected to take place on January 21. At the same time, the probable date for listing of the company’s shares is January 23.
Half of the offer size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 35 per cent for retail investors. The sole book running lead manager for the public issue is Sarathi Capital Advisors.
Where will Stallion India Fluorochemicals use the funds?
Stallion India Fluorochemicals intends to use Rs 95 crore of the IPO proceeds for incremental working capital needs. Additionally, Rs 50.3 crore will be utilized for capital expenditure requirements for Semi-conductor and Specialty Gas Debulking and Blending Facility (Khalapur) and Refrigerant Debulking and Blending Facility (Mambattu, Andhra Pradesh). The remaining funds will be used for general corporate purposes.
Stallion India Fluorochemicals Business
Stallion India Fluorochemicals was established in September 2002. This Mumbai-based company will compete with listed firms like Naveen Fluorine International, SRF and Gujarat Fluorochemicals. This company mainly deals with debulking, blending and processing of refrigerants and industrial gases. Along with this, it also sells pre-filled cans and small cylinders or containers.
Financials of Stallion India Fluorochemicals
Talking about the financials of the company, the net profit in the financial year 2024 increased by 51.6 percent to Rs 14.8 crore as compared to the previous year. But in FY 2023, it declined by 53.8 percent to Rs 9.8 crore as compared to FY 2022. Revenue grew by 3.4 per cent to Rs 233.2 crore for the year ending March 2024, compared to Rs 225.5 crore in FY23. Whereas, in the financial year 2022, the revenue was recorded at Rs 185.9 crore.
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