Stallion India’s IPO got listed in the stock market today, Thursday. The company’s shares were listed on both BSE and NSE. The IPO price was listed on BSE at Rs 120 with a premium of about 34% compared to Rs 90. At the same time, the same shares were listed on NSE at Rs 120 with a premium of 34%. Along with this, after listing it hit an upper circuit of 5% and reached an intraday high of Rs 125.99. This means that investors made a profit of more than 40% on the very first day.
About IPO
The IPO of Stallion India Fluorochemicals opened on January 16 and closed on January 20. The price band of the IPO was Rs 85 to Rs 90 per share.
IPO subscription
The company’s IPO was subscribed 189 times in three days. The IPO involved a fresh issue of 1.78 crore equity shares and an offer for sale (OFS) of 43.02 lakh shares by its promoters Shahzad Sheriar Rustomjee. This IPO was worth Rs 199.45 crore, at the upper end of the price band.
company business
Stallion India provides its services to various industries, including air-conditioning and refrigeration, fire fighting, semiconductor manufacturing, vehicle manufacturing, pharmaceuticals, medical, glass bottle manufacturing, aerosol and spray foam applications. The IPO proceeds will be used to meet working capital needs, capital expenditure for the proposed facilities in Maharashtra and Andhra Pradesh and general company functioning.
