Fri Jan 17 12:55:58 UTC 2025: ## Stallion India Fluorochemicals IPO Oversubscribed, Poised for Strong Listing

**Mumbai, January 19, 2024** – The initial public offering (IPO) of Stallion India Fluorochemicals Ltd. has been significantly oversubscribed, attracting strong investor interest. The IPO, which opened on January 16th and closes on January 20th, has already received over 7.31 times subscription. The ₹199.45 crore offering priced shares between ₹85 and ₹90.

Friday alone saw a remarkable 32.19 times oversubscription, with bids for 49,94,10,615 shares against the 1,55,12,978 shares on offer. Retail investors showed particularly strong enthusiasm, with their quota subscribed 31.15 times. Non-institutional investors (NIIs) also heavily participated, subscribing 77.13 times. However, the Qualified Institutional Buyer (QIB) portion received a relatively low subscription of 0.31 times.

Allocation is expected on January 21st, with listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) scheduled for January 23rd. The grey market currently indicates a strong potential for listing gains, with unlisted shares trading at a 42.22% premium over the upper IPO price.

Multiple brokerages, including Anand Rathi Research, Swastika Investmart, and Arihant Capital Markets, have given the IPO a “subscribe” rating, citing the company’s strong market position (10% market share in fluorochemicals), robust financial performance, fair valuation, and promising growth prospects driven by planned capital expenditure. The IPO proceeds will fund working capital, expansion in Maharashtra and Andhra Pradesh, and general corporate purposes.

Stallion India Fluorochemicals operates in the refrigerant and industrial gases sector, supplying various industries including air conditioning, refrigeration, semiconductor manufacturing, and pharmaceuticals. The IPO includes a fresh issue of 1.78 crore equity shares and an offer-for-sale (OFS) component of 43.02 lakh shares by promoter Shazad Sheriar Rustomji. Sarthi Capital Advisors is the sole book-running lead manager.

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