Stallion India Fluorochemicals Initiates IPO Process to Raise Capital

20 Dec 2023 , 10:27 AM

Refrigerants supplier Stallion India Fluorochemicals has submitted preliminary documents to the Securities & Exchange Board of India (SEBI) for an upcoming initial public offering (IPO) to raise capital through the sale of its shares.

The IPO plan includes a fresh issue of up to 1.78 crore equity shares and an offer-for-sale (OFS) component of up to 43.02 lakh shares by its promoter, Shazad Sheriar Rustomji, as outlined in the Draft Red Herring Prospectus (DRHP).

According to the DRHP filed on Monday, the funds raised from the IPO will be allocated to meet working capital requirements, capital expenditure for proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes.

Stallion India Fluorochemicals operates as a supplier of refrigerants and various gases, serving both bulk and small cylinder/container requirements. The company boasts extensive experience in large-scale Fluorochemicals debulking, bottling, and distribution.

The company has proposed listing its shares on the NSE and BSE. Sarthi Capital Advisors will serve as the sole book-running lead manager, and Bigshare Services is designated as the registrar to the issue.