Stallion India Fluorochemicals Set for IPO with SEBI Approval

Stallion India Fluorochemicals has received SEBI's approval to raise funds through an IPO. The offering consists of 1.78 crore equity shares and an additional 43.02 lakh shares offered for sale by its promoter, Shazad Sheriar Rustomji. Proceeds will fund working capital, new facilities, and corporate purposes.

Refrigerants supplier Stallion India Fluorochemicals has secured approval from SEBI to proceed with its initial public offering (IPO), according to an update released on Monday.

The IPO includes a fresh issuance of up to 1.78 crore equity shares and an offer-for-sale (OFS) of up to 43.02 lakh shares by the company's promoter, Shazad Sheriar Rustomji, as detailed in the Draft Red Herring Prospectus (DRHP).

Funds raised through the IPO will be utilized for working capital needs, capital expenditure for new facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

(With inputs from agencies.)