PNN
Mumbai (Maharashtra) [India], January 15: Stallion India Fluorochemicals Limited specializes in the sale of refrigerant and industrial gases, proposes to open its Initial Public Offering on January 16, 2025. The company aims to raise Rs 199.45 crore, which will be listed on the BSE and NSE platforms.
The issue size is 2, 21, 61,396 equity shares at a face value of Rs10 each with a price band of Rs 85 – Rs 90 Per Share.
Equity Share Allocation
* Anchor Portion: Up to 66,48,418 Equity Shares
* QIB Portion: Not More than 44,32,279 Equity Shares(Net off Anchor Portion)
* Non-Institutional Investors: Not Less than 3,324,210Equity Shares
* Retail Individual Investors: Not Less than 7,756,489Equity Shares
The net proceeds from the IPO will be utilized by the company for funding incremental working capital requirements, funding capital expenditure requirements for its semiconductor and specialty gas debulking and blending facility in Khalapur, Maharashtra, funding capital expenditure requirements for its refrigerant debulking and blending facility in Mambattu, Andhra Pradesh, and for general corporate purposes. The anchor bidding will open on January 15, 2025 and issue will close on January 20, 2025.
The Book Running Lead Manager to the Issue is Sarthi Capital Advisors Private Limited, The Registrar to the Issue is Bigshare Services Private Limited.
Shazad Sheriar Rustomji, Chairman & Managing Director, of Stallion India Fluorochemicals Limited expressed, “As we prepare for our IPO, we take great pride in reflecting on our journey and accomplishments. Operating from four facilities, our company serves gases to multiple industries and has built a strong reputation among clients through consistent service and reliability.
The IPO funding will support capital expenditure at our Khalapur, Maharashtra, and Mambattu, Andhra Pradesh plants for semiconductor and specialty gas debulking and blending, as well as refrigerant debulking and blending facilities and addressing incremental working capital needs. These investments position us to drive a new phase of growth and expansion.”
Deepak Sharma, Founder & Managing Director of Sarthi Capital Advisors Private Limited said, “The fluorochemicals and specialty gases industry is experiencing significant growth, driven by increasing demand across commercial, industrial, and environmental applications. The company’s focus on refrigerant gases, industrial gases, and value-added services such as debulking, blending, and pre-filled cans offering positions it uniquely to capitalize on these trends.
With the funds raised through this IPO, the company is well-equipped to expand its operational capacity. We believe the company’s proven track record and strategic positioning in a high-growth industry provide a compelling opportunity for sustained growth and value creation.”
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