Stallion India Fluorochemicals Limited is a Mumbai-based company that specializes in the production and distribution of refrigerants and specialty gases. The company is well-established in the fluorochemicals industry, with nearly two decades of experience in large-scale fluorochemicals debulking, bottling, and distribution. Stallion India aims to become a reliable supplier of these gases, catering to both bulk and small cylinder/container needs.

The company is now entering the capital markets with an IPO (Initial Public Offering) to raise ₹ 199.45 Crores. The IPO will consist of a Fresh Issue of 178.58 Lakh shares worth ₹ 160.72 Crores and an Offer for Sale of 43.02 Lakh shares totaling ₹ 38.72 Crores. The subscription for the IPO opens on January 16, 2025, and will close on January 20, 2025. The IPO price band has been set between ₹ 85 and ₹ 90 per equity share.

The company’s market capitalization at the upper price band of ₹ 90 per share will be ₹ 713.92 Crores. The lot size for the IPO is set at 165 shares, and retail investors are required to invest a minimum of ₹ 14,850. The minimum investment for High-Net-Worth Individuals (HNIs) is 14 lots (2,310 shares), amounting to ₹ 2,07,900.

IPO Details

The IPO subscription period for Stallion India Fluorochemicals opens on January 16, 2025, and closes on January 20, 2025. The allotment date is expected on January 21, 2025, and the shares will be listed on the BSE and NSE on January 23, 2025.

Sarthi Capital Advisors Private Limited is the book running lead manager for the Stallion India Fluorochemicals IPO, while Bigshare Services Private Limited will serve as the registrar for the issue.

Grey Market Premium (GMP) and Trends

As of January 16, 2025, the Grey Market Premium (GMP) for Stallion India Fluorochemicals IPO shows an expected gain of ₹ 40 (around 44.44%). The GMP indicates potential listing gains but should be taken with caution as it is based on unorganized market trends and not a reliable indicator of the actual listing price. The GMP is mentioned for informational purposes only.

Stallion India Fluorochemicals IPO Subscription Status

The live subscription status as of 11:10 AM on January 16, 2025 shows that the Stallion India Fluorochemicals IPO has been subscribed 1.14 times on the first day of its subscription period. This indicates a healthy demand for the IPO, which may bode well for investors looking for listing gains. For real-time updates, you can check the subscription status at the BSE website.

Anchor Investors Report

Stallion India Fluorochemicals has raised ₹ 59.83 Crores from Anchor Investors, allocating 66,48,418 equity shares at a price of ₹ 90 per share. The allocation to anchor investors provides confidence in the company's financial stability and market position, adding credibility to the IPO's launch.

IPO Allotment Date

The IPO allotment date is scheduled for January 21, 2025. To check the allotment status, investors can visit the registrar’s website. The process is simple:

1. Go to the IPO allotment page.
2. Select Stallion India Fluorochemicals Limited IPO from the dropdown list.
3. Enter your application number, PAN, or DP Client ID to check your allotment status.

Objectives of the Stallion India Fluorochemicals IPO

Stallion India Fluorochemicals intends to use the net proceeds from the IPO for various growth and expansion initiatives:

1. ₹ 9,500.00 Lakh for funding incremental working capital needs.
2. ₹ 2,915.54 Lakh for capital expenditure towards the Semi-conductor & Specialty Gas debulking & blending facility in Khalapur, Maharashtra.
3. ₹ 2,117.53 Lakh for capital expenditure for the Refrigerant debulking & blending facility in Mambattu, Andhra Pradesh.
4. Remaining funds will be used for general corporate purposes.

Financial Performance and Valuation

Stallion India Fluorochemicals has shown steady financial growth over the years. The company's revenues from operations for the fiscal year 2024 were ₹ 14,153.16 Lakh, compared to ₹ 23,622.63 Lakh in 2023. The EBITDA for the first half of FY2024 was ₹ 2,553.76 Lakh, and Profit After Tax (PAT) for FY2024 was ₹ 1,656.51 Lakh, reflecting strong profitability.

The pre-issue EPS for the company stands at ₹ 2.54, and the post-issue EPS is expected to be ₹ 1.86 for FY2024. The P/E ratio at the upper price band of ₹ 90 per share stands at 48.28x, which is slightly below the industry P/E ratio of 57x, indicating that the IPO is fairly priced.

Return on Capital Employed (ROCE) stands at 13.96%, while Return on Equity (ROE) is 12.54% for FY2024, reflecting solid financial performance and sustainable growth potential.

Recommendation

Considering the company’s financial performance, reasonable pricing, and strong IPO demand, the Stallion India Fluorochemicals IPO presents an appealing opportunity for investors looking for listing gains.

Investors with an appetite for risk and a focus on medium-term returns are encouraged to apply for the Stallion India Fluorochemicals IPO.

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