Stallion India Fluorochemicals: IPO Set to Enhance Market Reach

Stallion India Fluorochemicals announced its IPO with a price range of Rs 85-90 per share, commencing on January 16. The offering includes fresh equity shares and a promoter-led offer-for-sale. Aimed at augmenting its working capital and facility expansion, the IPO targets Rs 199.45 crore.

Stallion India Fluorochemicals, a leading refrigerants and industrial gases supplier, has set its initial public offering (IPO) price band at Rs 85 to Rs 90 per share. The IPO, starting January 16, will consist of a fresh issue of 1.78 crore equity shares coupled with an offer-for-sale of 43.02 lakh shares by promoter Shazad Sheriar Rustomji.

The total IPO size reaches approximately Rs 199.45 crore at the upper limit of the price range. The public offering closes on January 20, with anchor investors having the opportunity to bid on January 15, as per the company's announcement.

Proceeds from the IPO will support the firm's working capital, facility development in Maharashtra and Andhra Pradesh, and general corporate expenses. Catering to sectors like air-conditioning and refrigeration, its FY24 financials reveal a profit after tax of Rs 14.79 crore against revenues of Rs 233.23 crore. Sarthi Capital Advisors is leading the issue, with Bigshare Services acting as the registrar.

(With inputs from agencies.)