Stallion India Fluorochemicals IPO
Stallion India Fluorochemicals IPO — date, price band, lot size & details 2025
Stallion India Fluorochemicals listed on 23 Jan 2025 at ₹120, 33.3% above the ₹90 issue price.
Stallion India Fluorochemicals sells refrigerant and industrial gases and also debulks, blends and processes them. It runs four plants in Maharashtra, Rajasthan and Haryana.
Stock price
Stallion India Fluorochemicals is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 16 Jan 2025
- Close 20 Jan 2025
- Allotment 21 Jan 2025
- Refund/credit 22 Jan 2025
- Listing 23 Jan 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 20 Jan, 2025 |
|---|---|
| Price Band | ₹85 – ₹90 |
| Face Value | ₹10 |
| Lot Size | 165 Shares |
| Issue Size | ₹199.45 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 165 shares at the ₹90 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 165 | ₹14,850 |
| Retail (max) | 13 | 2,145 | ₹1,93,050 |
| S-HNI (min) | 14 | 2,310 | ₹2,07,900 |
| S-HNI (max) | 67 | 11,055 | ₹9,94,950 |
| B-HNI (min) | 68 | 11,220 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 186.34 crore in FY2022 to Rs 236.23 crore in FY2024.
- 02Profit after tax was Rs 16.57 crore in the six months to 30 September 2024, above the full FY2024 figure of Rs 14.79 crore.
- 03Rs 160.73 crore of the Rs 199.45 crore issue was fresh capital for the company.
- 04The P/E was 21.55 at the upper band of Rs 90, based on post-issue EPS of Rs 4.18.
- 05Rs 50.34 crore of the proceeds was planned for capital expenditure on semiconductor gases and on refrigerant debulking and blending.
Risks · 7
- 01The latest financials cover only the six months to 30 September 2024, with total income of Rs 141.53 crore.
- 02Profit after tax fell from Rs 21.11 crore in FY2022 to Rs 9.75 crore in FY2023 and was Rs 14.79 crore in FY2024.
- 03Total borrowing rose sharply from Rs 1.97 crore on 31 March 2022 to Rs 81.05 crore on 30 September 2024.
- 04Rs 95.00 crore of the proceeds was for working capital, which shows how much cash the business ties up.
- 05Return on equity was 12.54% and the PAT margin was 6.26%.
- 06Rs 38.72 crore of the issue was offer for sale and did not reach the company.
- 07Promoter holding fell from 94.63% before the issue to 67.9% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Stallion India Fluorochemicals offer document.
| Metric | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 235.69 | 203.14 | 126.18 | 98.01 |
| Total Income | 141.53 | 236.23 | 226.06 | 186.34 |
| Profit After Tax | 16.57 | 14.79 | 9.75 | 21.11 |
| NET Worth | 134.53 | 117.96 | 70.70 | 60.94 |
| Total Borrowing | 81.05 | 65.35 | 18.27 | 1.97 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Stallion India Fluorochemicals RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Stallion India Fluorochemicals IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.41 | ₹4.18 |
| P/E Ratio (x) | 37.41 | 21.55 |
| Market Cap at Offer Price (₹ Cr) | ₹618.80 | ₹356.77 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹90 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹163.63 Cr of the issue is earmarked to named objects.
Stallion India Fluorochemicals IPO Anchor Investors
6 anchor investors across 6 fund houses committed ₹59.82 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Saint Capital Fund | Saint Capital | 2,222,385 | 20.00 | 33.43% |
| Ashika Global Securities Pvt.ltd. | Ashika Global Securities | 1,104,942 | 9.94 | 16.62% |
| Craft Emerging Market Fund Pcc-Citadel Capital Fund | Craft Emerging Market Fund Pcc | 1,104,942 | 9.94 | 16.62% |
| Mint Focused Growth Fund Pcc-Cell 1 | Mint Focused | 1,104,941 | 9.94 | 16.62% |
| Ashika India Select Fund | Ashika | 555,604 | 5.00 | 8.36% |
| Leading Light Fund Vcc - The Triumph Fund | Leading Light | 555,604 | 5.00 | 8.36% |
| Total anchor allocation | 59.82 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The gases are used in semiconductor manufacturing, automotive, electronics, pharmaceuticals, healthcare, fire extinguishers, spray foam, glass bottle making and aerosols.
The company has four plants. They are at Khalapur and Panvel in Raigad district of Maharashtra, Ghiloth in Alwar district of Rajasthan and Manesar in Gurugram district of Haryana.
The IPO was Rs 199.45 crore, with Rs 160.73 crore of fresh issue and Rs 38.72 crore of offer for sale. Rs 95.00 crore of the proceeds was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Stallion India Fluorochemicals IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Sarthi Capital Advisors Pvt.Ltd.
3 issues handledBest listing: Jindal Supreme (India) (+29.0%). Weakest: BMW Ventures (-21.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Stallion India Fluorochemicals?
The current Grey Market Premium is ₹35, or 39% over the issue price.
What is the Stallion India Fluorochemicals IPO price band?
₹85 to ₹90, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 January 2025, with listing on 23 January 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
