Shares of Stallion India Fluorochemicals were listed on Thursday at a premium of more than 33% on the bourses against the issue price of ₹90.

The stock debuted at ₹120 on the BSE and the NSE, registering a leap of 33.33% each from the issue price.

Later, the stock rose 5% to ₹126 and ₹125.99 apiece -- to hit its upper circuit level -- on the NSE and the BSE.

Manisha Shazad Rustomji, Shazad Sheriar Rustomji, and Rohan Shazad Rustomji are the company promoters. Their shareholding was reduced to 67.90% post-listing from 94.63% pre-issue.

The money raised will be used towards funding working capital needs, capital expenditure for its proposed plants in Maharashtra and Andhra Pradesh, and general corporate purposes.

The market capitalisation of Stallion India stands at ₹999.50 crore as shares hit 5% upper circuit on the NSE.

• Traded volume: 70.09 lakhs
• Traded value: ₹85.99 crore
• Total market cap: ₹999.50 crore

• Current price: ₹126 (+5%)
• Open: ₹120
• High: ₹126
• Low: ₹120
• Issue price: ₹90

Shares of Stallion India Fluorochemicals are trading at ₹125.99 apiece, up 4.99%, its upper circuit on the BSE.

After listing at a 33.33% premium, Stallion India shares hit a 5% upper circuit and traded at ₹126 apiece on the NSE.

In the pre-open market, Stallion India Fluorochemicals shares trade at ₹120 a unit on the National Stock Exchange, a premium of 33.33% over the issue price of ₹90 apiece.

• The revenue depends on refrigerant gas sales in regions like Delhi and Maharashtra. Any decline in demand could affect growth, earnings, sales, and cash flow.
• An increase in raw material costs can impact the company's financial performance.
• Stallion India Fluorochemicals imports the majority of its raw materials from China. Any restrictions on imports could impact its business operations and results.

• Stallion has strong market recognition in the refrigerant gases industry.
• The company services various industries, including fire fighting, air conditioning, automobiles, semiconductors, glass manufacturing, pharmaceuticals, and aerosols.
• Its long-term customer relationships drive repeat business and growth. The company's top 10 customers contribute 77.32% to the revenue.

The issue was open for subscription from January 16 to January 20. The allotment status was finalised on January 21. Shares were credited to the Demat accounts of successful investors on Wednesday. The stock will be listed on stock exchanges at 10 am on Thursday.

Investors were allowed to bid for at least 165 shares worth ₹14,850 and in multiples thereafter.

Stallion India Fluorochemicals had fixed a price band of ₹85 to ₹90 per share for its initial public offer.

The ₹199.45 crore public offer was subscribed 188.38 times, as bids were received for 2,92,22,89,425 equity shares against 1,55,12,978 shares on offer.

The non-institutional investors' quota was subscribed 422.42 times, while qualified institutional investors bid 172.93 times. The retail investors subscribed their portion 96.90 times.