Fri Jan 17 14:58:24 UTC 2025: ## Stallion India Fluorochemicals IPO Oversubscribed, Strong Investor Interest

**Mumbai, January 19, 2024** – The initial public offering (IPO) of Stallion India Fluorochemicals Ltd. has been significantly oversubscribed, exceeding expectations just days before its closing. The IPO, which opened on January 16th and closes on January 20th, has already garnered 7.31 times subscription.

The ₹199.45 crore IPO, priced between ₹85 and ₹90 per share, saw particularly strong interest from retail investors (31.15 times oversubscribed) and non-institutional investors (77.13 times oversubscribed). While the Qualified Institutional Buyer (QIB) portion saw lower subscription (0.31 times), the overall response has been overwhelmingly positive. On Friday alone, the IPO received 32.19 times subscription.

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

Several brokerages have given the IPO a “subscribe” rating, citing Stallion India Fluorochemicals’ strong market position (10% market share in the fluorochemicals industry), healthy financial performance, and promising future growth prospects fuelled by planned expansion. Analysts point to fair valuation and significant potential for earnings improvement.

The IPO comprises a fresh issue of 1.78 crore equity shares and an offer-for-sale (OFS) of 43.02 lakh shares by promoter Shazad Sheriar Rustomji. Proceeds will fund working capital, capital expenditure for new facilities in Maharashtra and Andhra Pradesh, and general corporate purposes. Stallion India Fluorochemicals serves diverse industries including refrigeration, semiconductor manufacturing, and pharmaceuticals. Sarthi Capital Advisors is the sole book running lead manager.

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