Stallion India Fluorochemicals IPO subscribed over 15% so far as NIIs lead; check price band, lot size and key dates

Stallion India Fluorochemicals IPO is seeing a strong response from investors, as the initial public offer has been subscribed over 15 times so far on Friday, January 17, the second day of bidding.

According to the National Stock Exchange (NSE) data, the initial share sale received bids for 24,02,89,005 shares, against 1,55,12,978 shares on offer, leading to 15.49 times subscription until 12:15 pm.

The retail quota of the IPO was booked 19.02 times times, as they applied to 14,75,27,655 shares as against 77,56,489 shares on offer.

The non-institutional investors subscribed 27.84 times. They placed bids for 9,25,47,015 shares compared to 33,24,210 on offer.

The qualified institutional buyers (QIBs) booked only 5% of their reserved portion, as they submitted applications for 2,14,335 shares against 44,32,279 shares reserved.

Stallion India Fluorochemicals IPO is a 100% book-built issue of ₹199.45 crore. It combines a fresh issuance of 1.79 crore shares, aggregating ₹160.73 crore, with an offer-for-sale (OFS) of 43 lakh shares, worth ₹38.72 crore.

The price band has been fixed at ₹85 to ₹90 per share.

The money raised to the tune of ₹95 crore will be used for working capital requirements, ₹50.32 crore for capital expenditure to expand its manufacturing facility in Andhra Pradesh and Maharashtra and a portion for corporate general purposes.

Stallion India Fluorochemicals IPO: Lot size

The minimum bid size for retail investors is a single lot of 165 shares worth ₹14,850.

Stallion India Fluorochemicals IPO: key dates

Bidding for the issue will conclude on January 20. The allotment of shares is expected to be finalised on January 21. The Stallion India stock is scheduled to be listed on the NSE and BSE on January 23.

Stallion India Fluorochemicals sells refrigerants, industrial gases, and related products, serving various industries, including air conditioning and refrigeration, semiconductor manufacturing, automobile manufacturing, firefighting, pharmaceuticals and medicals, aerosols, glass bottle manufacturing, and spray foam applications.