Stallion India Fluorochemicals Shares Hit Upper Circuit After Strong Debut At 33% Premium

Stallion India Fluorochemicals Share Price: Shares of Stallion India Fluorochemicals were listed at a premium of more than 33 per cent against the upper band of the price range of Rs 90 per share on the stock exchanges on Thursday. On BSE, the stock made its debut at Rs 120 per share on both the BSE and NSE, jumping 33.33 per cent over the issue price. Later, stallion India Fluorochemicals shares rose another 7 per cent to hit the upper circuit of Rs 126 per share on NSE.

The company has a market cap of Rs 999.42 crore on the BSE and Rs 999.50 crore on the NSE.

Stallion India Fluorochemicals IPO Details

Stallion India Fluorochemicals’ initial public offering (IPO) was subscribed 188.38 times on Monday’s closing day due to massive investor participation. The initial share sale price band was Rs 85-90 per share.

Refrigerator supplier Stallion India Fluorochemicals’ initial issue of Rs 199.45 crore was a fresh issue of 1.78 crore equity shares and an offer for sale (OFS) component of 43.02 lakh shares by its promoter Shehzad Sheriar Rustomjee.

According to the Red Herring Prospectus (RHP), the proceeds of the issue will be used for working capital needs, capital expenditure for the proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

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What does Stallion India Fluorochemicals do?

Stallion India is engaged in the sale of fluorochemicals refrigerants and industrial gases as well as related products.

The company provides services to industries including air conditioning and refrigeration, semiconductor manufacturing, fire protection, pharmaceuticals, automobile manufacturing, medical, aerosol, glass bottle manufacturing and spray foam applications.

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(With Inputs From PTI)