Stallion India Fluorochemicals Limited share price made a strong debut listing with 33.33% premium at ₹120 on the BSE and the NSE
The Stallion India share price gained 5% post listing to ₹126 levels, which was the upper price band for the Stallion India share price. Hence Stallion India shares were locked in the upper circuit in early trades
The subscription status and the Grey Market premium had indicated towards strong investor interest and expectations and the investors were not disappointed post strong listing
Stallion India Fluorochemicals IPO that opened for subscription on 16 January had received 188.32 times sub. The public issue subscribed 96.81 times in the retail category, 172.93 times in QIB, and 422.35 times in the NII category
Stallion India Fluorochemicals Limited grey market premium or GMP stood at +35. This meant that Stallion India Fluorochemicals shares were available in the grey market at premium of ₹35 over the issue price. This had also meant that Market participants were expecting listing of Stallion India shares at ₹125, a 38.89 % premium over the issue price of ₹90.
The Stallion India Fluorochemicals was a a book built issue of ₹199.45 crores. The offer was a combination of fresh issue of 1.79 crore shares aggregating to ₹160.73 crores and offer for sale of 0.43 crore shares aggregating to ₹38.72 crores.
The proceeds from fresh issue of shares were to be utilised for financing the company's increased working capital needs. For financing the necessary capital expenditures at its Semi-conductor & Specialty Gas debulking & blending facility at Khalapur, Maharashtra. For financing the necessary capital expenditures at its refrigerant blending and debulking facilities in "Mambattu, Andhra Pradesh." and for the General Corporate purposes.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.