Green Light for Stallion India Fluorochemicals' IPO

25 Jul 2024 , 03:33 PM

The capital markets regulator SEBI has given Stallion India Fluorochemicals the all-clear to proceed with its initial public offering (IPO) plans.

On July 18, Stallion India Fluorochemicals, which had filed preliminary documents in March of this year for funding through an initial public offering (IPO), received an observation letter from SEBI.

The company is permitted by the SEBI observation letter to conduct its initial public offering (IPO) during the upcoming year.

Industrial gases and refrigerant are sold by Stallion India. In its initial public offering (IPO), promoter Shazad Sheriar Rustomji is offering 43.02 lakh equity shares for sale in addition to 1.78 Crore newly issued equity shares.

As per the company’s draft documents, it intends to allocate ₹95 Crore for increased working capital needs, ₹29.2 Crore for its semi-conductor & specialty gas debulking & blending facility located in Khalapur, Maharashtra, and ₹21.2 Crore for the refrigerant debulking & blending facility situated in Mambattu, Andhra Pradesh. of the fresh issue proceeds.

The only book running lead manager for the issue is Sarthi Capital Advisors, and the registrar for the offer is Bigshare Services.

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