Fri Jan 17 13:18:13 UTC 2025: ## Stallion India Fluorochemicals IPO Oversubscribed on Day 2
**Mumbai, January 19, 2024** – The initial public offering (IPO) of Stallion India Fluorochemicals Ltd. continues to attract significant investor interest. On its second day of trading, the IPO was oversubscribed by 16.04 times, building on a strong first day where it was subscribed 7.08 times. The company aims to raise Rs 200 crore through the mainboard issue.
Non-institutional investors have been the primary drivers of demand, with their portion of the offering oversubscribed by nearly 30 times. In contrast, qualified institutional buyers showed comparatively less interest, with a subscription rate of just 0.05 times. Retail investors, who must bid for a minimum of 165 shares (Rs 14,850), have also participated strongly.
The IPO, which offers a price band of Rs 85 to Rs 90 per share, has a substantial grey market premium (GMP). InvestorGain reports a GMP of Rs 42 as of Friday morning, suggesting a potential listing price of Rs 132 – a 46.67% premium over the upper price band. It’s important to note that GMP is based on speculation and not an official price.
The IPO includes a fresh issue of Rs 160.7 crore and an offer for sale of Rs 38.7 crore. Proceeds will fund working capital requirements, capital expenditure at two plants, and general corporate purposes. Stallion India Fluorochemicals manufactures and sells refrigerant and industrial gases, operating four plants across Maharashtra and Rajasthan.
The IPO closes on January 20, with allotment expected on January 21. The shares are anticipated to list on the BSE and NSE on January 23. BigShare Services Pvt. is the registrar, and Sarthi Capital Advisors Pvt. is the book-running lead manager. Investors are advised to consult with financial advisors and review the red herring prospectus before investing. Remember that IPO investments carry inherent market risks.
First Piper 