Stallion India Fluorochemicals Sets Price Band For IPO

Refrigerants supplier Stallion India Fluorochemicals on Tuesday fixed a price band of Rs 85 to Rs 90 per share for its initial public offering opening on Jan. 16.

The IPO comprises a fresh issue of 1.78 crore equity shares and an offer-for-sale or OFS component of 43.02 lakh shares by its promoter Shazad Sheriar Rustomji.

At the upper end of the price band, the IPO size is pegged at Rs 199.45 crore.

The public issue will conclude on Jan. 20 and the bidding for anchor investors will open for a day on Jan. 15, Stallion India Fluorochemicals said in a statement.

Proceeds from the issue will be used towards funding working capital requirements, capital expenditure for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

Stallion India Fluorochemicals is engaged in the sale of refrigerants and industrial gases, along with related products. The company serves a diverse range of industries, including air-conditioning and refrigeration, firefighting, semiconductor manufacturing, automobile manufacturing, pharmaceuticals and medicals, glass bottle manufacturing, aerosols, and spray foam applications.

On the financial front, the company posted a profit after tax of Rs 14.79 crore and revenue from operations of Rs 233.23 crore in fiscal 2023-24.

Sarthi Capital Advisors is the sole book-running lead manager, while Bigshare Services is the registrar to the issue.