Stallion India Fluorochemicals Soars on IPO Debut

Stallion India Fluorochemicals debuted on the stock market with a 33% premium. The stock rose further, reflecting high investor interest after a heavily subscribed IPO. Proceeds will fund expansion and working capital, supporting its broad industrial clientele. Initial offerings comprised new shares and an offer-for-sale by the promoter.

Stallion India Fluorochemicals made a dazzling debut on the stock market this Thursday, listing with a premium of more than 33% over its issue price of Rs 90.

The stock began trading at Rs 120 per share on both the BSE and NSE, marking a significant leap from its initial pricing. It continued its upward trajectory, reaching Rs 126 on the NSE and Rs 125.99 on the BSE, hitting the upper circuit limit.

This enthusiastic investor response comes after the company's IPO was subscribed 188.38 times on its closing day, driven by stellar interest across investment segments. The funds raised are earmarked for expansion projects in Maharashtra and Andhra Pradesh, as well as operational costs. As a supplier of refrigerants and industrial gases, Stallion India Fluorochemicals serves diverse sectors including pharmaceuticals, automobile manufacturing, and semiconductor production.

(With inputs from agencies.)