After garnering significant investor interest with its IPO, Stallion India Fluorochemicals Ltd. listed on the exchanges at a premium on Thursday. Shares of the refrigerant seller listed on the both National Stock Exchange and BSE at Rs 120 apiece, against the issue price of Rs 90, marking a premium of 33.33%
The Rs 200-crore book-built public issue was subscribed 188.38 times by its final day on Monday, with high-net worth investors leading demand at 422.42 times subscription. Institutional investors placed bids for 172.93 times the shares reserved for them, while the retail portion was oversubscribed 96.9 times.
Use Of Proceeds
As mentioned in the red herring prospectus for the IPO, Stallion India Fluorochemicals will use the proceeds from its offer to meet working capital requirements and fund capital expenditure expenses of two of its plants.
Business
Stallion India Fluorochemicals is in the business of refrigerant, industrial gases and related products. The company primarily debulks, blends and processes refrigerant and industrial gases, and sells pre-filled cans and small cylinders.
It operates four plants in Khalapur and Panvel in Maharashtra's Raigad, one in Rajasthan's Alwar, and another in Haryana's Gurugram.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
