Fri Jan 17 11:39:53 UTC 2025: ## Stallion India Fluorochemicals IPO Oversubscribed, Strong Retail Interest

**Mumbai, January 17, 2025** – The initial public offering (IPO) of Stallion India Fluorochemicals continues to receive overwhelming investor interest, exceeding expectations on its second day. The IPO, priced between ₹85 and ₹90 per share, has been oversubscribed 17.4 times as of Friday midday, fueled primarily by strong demand from retail and high-net-worth individuals (HNIs).

Retail investors alone have subscribed 20.46 times their allocated portion, while the non-institutional investor (NII) category showed a 33.33 times oversubscription. However, the qualified institutional buyer (QIB) portion saw a comparatively weaker response, with only 11% subscription.

The company aims to raise ₹199.45 crore through the IPO, comprising a fresh issue of ₹160.73 crore and an offer-for-sale of up to 178.59 million equity shares. The IPO, which opened on Thursday, January 16, closes on Monday, January 20.

Despite the strong demand, the grey market premium (GMP) has slightly decreased to ₹38-40 per share, indicating a potential listing gain of 42-44%. Several brokerage firms have given the IPO a positive outlook, citing strong product demand, robust financial performance, and fair valuation. However, concerns remain about the company’s dependence on key markets, rising input costs, imports from China, and the seasonal nature of its business.

Stallion India Fluorochemicals, incorporated in 2002, manufactures and sells refrigerant and industrial gases. The company has already secured ₹59.83 crore from anchor investors. For the six months ending September 30, 2024, it reported a net profit of ₹16.57 crore on revenue of ₹141.53 crore. The company plans to use the IPO proceeds to diversify its product portfolio and invest in innovation.

The shares are expected to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on January 23, 2025. Sarthi Capital Advisors is the book-running lead manager, and Bigshare Services is the registrar.

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