Thu Jan 16 06:27:27 UTC 2025: ## Stallion India Fluorochemicals IPO Oversubscribed on Day 1
**Mumbai, January 16** – Stallion India Fluorochemicals Ltd., a distributor of refrigerant and industrial gases, saw strong demand on the first day of its Initial Public Offering (IPO). The IPO, aiming to raise ₹199.45 crore, was oversubscribed 1.94 times by 11:27 IST, according to BSE data. This translates to bids for 3,00,75,210 shares against the 1,55,12,978 shares on offer. Retail investors showed particularly strong interest, with their portion oversubscribed 3 times. The non-institutional investor portion was oversubscribed 2.05 times. The Qualified Institutional Buyers (QIB) portion was yet to be fully subscribed at the time of reporting.
The company, which previously secured ₹59.83 crore from six anchor investors, is using the IPO proceeds to fund working capital, expand its semiconductor and specialty gas facility in Khalapur, Maharashtra, and develop a refrigerant facility in Mambattu, Andhra Pradesh.
The IPO consists of 2,21,61,396 equity shares priced between ₹85 and ₹90 per share. Sarthi Capital Advisors Private Limited is the Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar.
Analysts, such as Avinash Gorakshkar of Profitmart Securities, consider the IPO reasonably priced, particularly for medium-to-long-term investors, citing the company’s focus on high-margin products and expectations of improved profitability. The grey market premium (GMP) is currently at ₹48, suggesting an estimated listing price of ₹138, significantly higher than the IPO price.
The IPO allocation is expected to be finalized on January 24th, with refunds and crediting of shares to demat accounts on January 25th. Listing on the BSE and NSE is anticipated for January 29th. The allotment reserved 50% for QIBs, at least 15% for non-institutional investors, and at least 35% for retail investors.
First Piper 