Stallion India Fluorochemicals Makes Splash with Stunning Stock Debut

Stallion India Fluorochemicals' shares surged 40% on debut, closing at Rs 126 on BSE, following a highly subscribed IPO. The Rs 199.45 crore offering included fresh and offer-for-sale shares. Funds raised will support working capital, new facilities, and corporate needs. The firm supplies refrigerants and industrial gases to multiple sectors.

In a striking debut, shares of Stallion India Fluorochemicals soared 40% above their issue price in Thursday's trading, closing at Rs 126 on the BSE. The stock began its journey at Rs 120 on both the BSE and NSE, marking a sharp 33.33% increase from the issue price.

The company's initial public offering (IPO) was met with a massive response, recording a 188.38 times subscription. This Rs 199.45 crore offering consisted of fresh issues and an offer-for-sale component by promoter Shazad Sheriar Rustomji. Stallion India Fluorochemicals plans to use the proceeds for working capital needs, capital expenditure in new facilities, and general corporate purposes.

The firm, known for its wide range of refrigerants and industrial gases, serves industries such as air-conditioning, pharmaceuticals, and automotive manufacturing. With a current market valuation nearing Rs 1,000 crore, Stallion India Fluorochemicals is positioned as a critical player in its sector.

(With inputs from agencies.)