Stallion India Fluorochemicals IPO Day 1 Live Updates: Stallion India Fluorochemicals Ltd, which focuses on the distribution of refrigerant and industrial gases, launches its Initial Public Offering today, Thursday, January 16. The company aims to gather ₹199.45 crore, which will be available for trading on both the BSE and NSE platforms.
On January 15, just a day prior to the IPO opening, the company secured ₹59.83 crore from six institutional investors through its anchor book. The IPO consists of 2,21,61,396 equity shares with a face value of ₹10 each, priced between ₹85 and ₹90 per share.
The proceeds from the IPO will be used to support increased working capital needs, fund capital expenditures for its semiconductor and specialty gas debulking and blending facility in Khalapur, Maharashtra, finance capital expenditures for its refrigerant debulking and blending facility in Mambattu, Andhra Pradesh, and cover general corporate expenses.
Sarthi Capital Advisors Private Limited serves as the Book Running Lead Manager for the issue, while Bigshare Services Private Limited acts as the Registrar to the issue.
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Stallion India Fluorochemicals IPO Day 1 Live Updates: Key Strengths
- Strong Market recognition.
- Business model and ability to mitigate operational risk.
- Customer base across high growth industries and long-standing relationships with customers.
- Track record of consistent financial performance.
- Experienced Promoter and Key Managerial Personnel.
Stallion India Fluorochemicals IPO Day 1 Live Updates: All you need to know about listing category
Stallion India IPO size is ₹199.45 crore. Stallion India shares will list in T category of securities as the mainboard IPO having size below ₹250 lists in trade-to-trade category.
Stallion India Fluorochemicals IPO Day 1 Live Updates: Issue booked 85% so far
The initial public offer of Stallion India IPO has been subscribed 85% on the first day of subscription today, at 10:33 IST, as per BSE data.
The initial share sale received bid for 1,32,36,300 shares against 1,55,12,978 shares on offer, according to BSE.
The portion for retail investors received 1.35 times subscription while the quota for non-institutional investors got subscribed 82%. The qualified institutional buyers (QIBs) part is yet to be booked.
Stallion India Fluorochemicals IPO Day 1 Live Updates: Key things to know
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Stallion India Fluorochemicals IPO Day 1 Live Updates: 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 3,324,210 equity shares* Retail Individual Investors: Not Less than 7,756,489 equity shares
Stallion India Fluorochemicals IPO Day 1 Live Updates: Issue booked 13% so far
The initial public offer of Stallion India IPO has been subscribed 13% on the first day of subscription today, at 10:09 IST, as per BSE data.
The initial share sale received bid for 20,36,595 shares against 1,55,12,978 shares on offer, according to BSE.
The portion for retail investors received 18% subscription while the quota for non-institutional investors got subscribed 20%. The qualified institutional buyers (QIBs) part is yet to be booked.
Stallion India Fluorochemicals IPO Day 1 Live Updates: Here’s what expert says
Avinash Gorakshkar, Head of Research at Profitmart Securities stated that the public issue is reasonably priced, and company management has claimed to be improving its margins and revenue. However, the company is working on high-margin products expected to improve quarterly earnings in upcoming quarters. Those with a medium to long-term view may apply for the book build issue.
Stallion India Fluorochemicals IPO Day 1 Live Updates: Check out key dates
Tentatively, Stallion India IPO basis of allotment of shares will be finalised on Wednesday, January 24, and the company will initiate refunds on Thursday, January 25, while the shares will be credited to the demat account of allottees on the same day following refund. Stallion India share price is likely to be listed on BSE and NSE on Monday, January 29.
Stallion India Fluorochemicals IPO Day 1 Live Updates: Check out IPO reservation
Stallion India IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Stallion India Fluorochemicals IPO Day 1 Live Updates: All you need to know about anchor investors
On January 15, one day prior to the commencement of the issue, this company raised ₹59.83 crore through the anchor book from six institutional investors. Saint Capital Fund, Ashika Global Securities, Craft Emerging Market Fund, Mint Focused Growth Fund, Ashika India Select Fund, and Leading Light Fund were the six anchor investors that took part in the anchor book.
Stallion India Fluorochemicals IPO Day 1 Live Updates: Here’s what GMP hints ahead of the launch
Stallion India IPO GMP today or grey market premium is +48. This indicates Stallion India share price were trading at a premium of ₹48 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Stallion India share price was indicated at ₹138 apiece, which is 53.33% higher than the IPO price of ₹90.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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