With a 33.33% premium at ₹120 on the BSE and NSE, the share price of Stallion India Fluorochemicals Limited had a successful first listing. Following listing, the share price of Stallion India increased by 5% to reach an upper circuit.
The share price of Stallion India Fluorochemicals Limited made a successful launch on the BSE and NSE, trading at a 33.33% premium at ₹120.Following listing, the Stallion India share price increased by 5% to reach its highest price band of 126 rupees. As a result, early trading saw Stallion India shares trapped in the upper circuit.
Strong investor interest and expectations were indicated by the subscription status and the Grey Market premium, and investors were not let down following a successful listing.
High expectations for investors
The IPO for Stallion India Fluorochemicals, which went live on January 16, was subscribed for 188.32 times. The public offering was subscribed to 422.35 times in the NII category, 96.81 times in the retail category, and 172.93 times in the QIB category.
The grey market premium, or GMP, for Stallion India Fluorochemicals Limited was +35. As a result, shares of Stallion India Fluorochemicals were trading on the grey market for ₹35 more than the issue price. As a result, market players anticipated that Stallion India shares would be listed at ₹125, which was 38.89% more than the issue price of ₹90.
The Stallion India Fluorochemicals was a ₹199.45 crore book-built issue. The offer consisted of a 0.43 crore share sale valued at ₹38.72 crores and a new issue of 1.79 crore shares totaling ₹160.73 crores.
The company's increasing working capital needs were to be financed with the proceeds from a new share offering. for funding the required capital improvements at its Khalapur, Maharashtra, Semi-conductor & Specialty Gas debulking & blending facilities. For general corporate purposes and to finance the required capital expenditures at its refrigerant blending and debulking plants in "Mambattu, Andhra Pradesh."
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