Stallion India Fluorochemicals IPO Soars with Over 32 Times Subscription

Stallion India Fluorochemicals' IPO received a strong response with 32.06 times subscription by the second day of bidding. The IPO features a price band of Rs 85-90 per share and aims to raise Rs 199.45 crore at the upper end. Funds will be used for working capital and expansion.

On the second day of bidding, the initial public offering of Stallion India Fluorochemicals Ltd witnessed an overwhelming 32.06 times subscription, highlighting significant investor interest.

According to NSE data, the IPO attracted bids for a staggering 49,73,74,020 shares against the 1,55,12,978 shares available. This includes a hefty 76.33 times for non-institutional investors and 30.93 times for Retail Individual Investors. Qualified Institutional Buyers subscribed at 31 percent.

Stallion India Fluorochemicals, a key supplier of refrigerants, set its IPO price band at Rs 85-90 per share, aiming to raise Rs 199.45 crore. The proceeds will fund working capital, capital expenditure in Maharashtra and Andhra Pradesh, and other corporate purposes.

(With inputs from agencies.)