The initial public offer (IPO) of Stallion India Fluorochemicals received 2,92,09,22,070 bids for shares as against 1,55,12,978 shares on offer, according to stock exchange data at 17:24 IST on Monday (20 January 2025). The issue was subscribed 188.29 times.
The issue opened for bidding on 16 January 2025 and it will close on 20 January 2025. The price band of the IPO is fixed between Rs 85 and 90 per share. An investor can bid for a minimum of 165 equity shares and in multiples thereof.
The offer comprises a fresh issue of up to 1,78,58,740 equity shares and an OFS (offer for sale) of up to 43,02,656 equity shares.
The company intends to establish a semiconductor & specialty gas debulking and blending facility in Khalapur, Maharashtra, with an aggregate installed capacity of 1,200 tonne per annum and is expected to commence commercial operations by November 10, 2025.
The total estimated cost for setting up the proposed facility is approximately Rs 29.16 crore. Further in a strategic move to expand its presence in the south, the company is proposing the establishment of a new plant in Mambattu, Andhra Pradesh. The plant will be set up for refrigerant debulking & blending facilities and storage of HFC and HFO refrigerant and their blends with an installed capacity of 7200 tonne per annum and is expected to commence commercial operations by 10 November 2025.
Ahead of the IPO, Stallion India Fluorochemicals on Wednesday, 15 January 2025, raised Rs 59.83 crore from anchor investors. The board allotted 66.48 lakh shares at Rs 90 each to 6 anchor investors.
Stallion India Fluorochemicals (SIFL) is into the business of selling refrigerant, industrial gases and related products. Its primary business consists of debulking, blending, and processing of refrigerant and industrial gases; selling pre-filled cans and small cylinders/containers.
The company has four facilities located in Khalapur (Maharashtra), Ghiloth (Rajasthan), Manesar (Haryana), and Panvel (Maharashtra). Each of these facilities is designed and equipped to store gases in a controlled environment, ensuring adherence to the safety standards.
The firm reported a consolidated net profit of Rs 16.57 crore and sales of Rs 140.73 crore for the six months ended on 30 September 2024.