Stallion India Fluorochemicals Ltd is scheduled to finalise the allotment of its initial public offering (IPO) on Tuesday. The stock would be listed at exchanges on Thursday (January 23). Successful applicants would get the shares credited to their demat accounts, while refunds would be processed for those who didn't receive an allotment.
The Rs 199.45 crore initial share sale, which was open for subscription between January 16 and January 20, witnessed a stellar response from investors. It saw an overall subscription of 188.38 times. The price band for the IPO was set at Rs 85-90 per share.
The quota for retail investors received 96.90 times subscription while the quota for non-institutional investors (NII) was subscribed 422.42 times. The qualified institutional buyers (QIB) portion was booked 172.93 times.
Grey market premium
The grey market premium of Stallion India has seen a sharp rise following strong demand for the issue. Last checked, the stock was seen at Rs 138 in the unofficial market, suggesting listing gains of more than 53 per cent for the investors.
Here's how to check the allotment status
Those invested can check their allotment status via the BSE website or Bigshare Services Pvt Ltd (IPO registrar):
On BSE website:
1) Go to the IPO allotment page. (https://www.bseindia.com/investors/appli_check.aspx)
2) Select 'Equity' as the issue type.
3) Choose "Stallion India Fluorochemicals" from the dropdown menu.
4) Enter your application number or PAN.
5) Click 'Search' to view your allotment status.
On Bigshare Services Pvt Ltd website:
1) Visit the IPO section of the website. (https://www.bigshareonline.com/ipo_Allotment.html)
2) Select "Stallion India Fluorochemicals" from the dropdown menu.
3) Enter your PAN, application number, or DP/Client ID.
4) Click 'Submit' to check your status.
Stallion India specialises in the refrigerant and industrial gases business, with strong market recognition and a solid track record of financial performance.
Brokerage view
"The company is bringing the issue at a price band of Rs 85-90 per share at p/e multiple of 22x on post issue annualized H1FY25 PAT (profit after tax) basis. It has shown operating and financial performance and growth. Also, the company has a customer base across high-growth industries and long-standing relationships with customers. It has blending facilities in different states, value and supply chain efficiencies. Also, Stallion India has professional management and experienced leadership of its Promoter i.e. Shazad Sheriar Rustomji. We recommend 'Subscribe' on the issue," Hem Securities said.