North India Statesman
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The IPO of Stallion India was listed in the stock market on Thursday. The company’s shares were listed on BSE and NSE, and the IPO price on BSE was listed at Rs 120 with about 34% premium against Rs 90. On NSE, this IPO was listed at Rs 120 with about 34% premium. With the listing, the stock got a upper circuit of 5% and it reached the Intra Day High of Rs 125.99. That is, investors made a profit of more than 40% on the very first day.
The IPO of Stallion India Florochemicals was opened from January 16 to January 20 for investment. The price band for the IPO was fixed at Rs 85 to Rs 90 per share.
The subscription was 189 times
In three days, the company’s IPO was subscribed to 189 times more. The IPO had a new issue of 1.78 crore equity shares and a sales offering of 43.02 lakh shares (OFS) by promoters, Shahzad Sheriyar Rustamji. The price of the IPO at the upper end of the price band was Rs 199.45 crore.
company business
Stallion India offers its services to various industries, including air-conditioning and refrigeration, fire fighting, semiconductor manufacturing, vehicle manufacturing, pharmaceuticals and medical, glass bottle manufacturing, aerosol and spray foam applications. The amount received from the IPO will be used to meet the needs of working capital, capital expenditure for proposed facilities in Maharashtra and Andhra Pradesh, and general company functioning.
