The IPO of Stallion India Fluorochemicals, a supplier of refrigerants, opened for subscription on January 16. Within just a few hours, the issue was fully subscribed.
As per data from the Bombay Stock Exchange (BSE), the IPO was 85% subscribed by 10:33 am on its first day.
Subscription Details
Retail investors have shown strong interest, with their portion getting 1.35 times oversubscribed. Meanwhile, the share for non-institutional investors was 82% subscribed.
However, the portion reserved for qualified institutional buyers (QIBs) has not been booked yet. The IPO’s price band is set between Rs 85 and Rs 90 per share.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) of the Stallion India Fluorochemicals IPO is currently Rs 48. This suggests a potential listing price of Rs 138.
If the listing price follows this trend, investors could make a profit of up to 54% on the first day. The company’s shares are expected to be listed on the BSE and NSE on January 23.
IPO Size and Use of Funds
The IPO includes the issuance of 1.78 crore new shares. Additionally, a sale offer (OFS) of 43.02 lakh shares will be made by the company’s promoter, Shahzad Sheriar Rustomji.
The total size of the IPO is Rs 199.45 crore. Stallion India Fluorochemicals has announced that the funds raised will be used for working capital needs, capital expenditure for proposed facilities in Maharashtra
and Andhra Pradesh, and general company operations. The IPO will close on January 20, and the issue was opened to anchor investors on January 15.
