Last Updated:
Stallion India Fluorochemicals’ shares lists at Rs 120 on both BSE and NSE as against the IPO issue price of Rs 90.
Stallion India Fluorochemicals IPO Listing.
Stallion India Fluorochemicals Ltd on Thursday made a strong stock market debut with the shares listing at Rs 120 apiece on the BSE, which is 33.33 per cent premium of the IPO issue price of Rs 90. On the NSE also, the stock listed at Rs 120. The shares rose further and hit 126 per cent, which is a 40 per cent gain over the issue price.
“The company made a good stock market debut, listing for Rs. 120 per share, a significant 33% premium over its issue price of Rs. 90. Those who took part in the initial public offering (IPO) may book part profit and hold with stoploss of 105,” said Shivani Nyati, head of wealth at Swastika Investmart Ltd.
Stallion India Fluorochemicals Limited is engaged in the business of selling Refrigerant and Industrial Gases and related products. The company’s primary business includes debulking, blending and processing Refrigerant and Industrial gases, and selling pre-filled cans and small Cylinders/ Containers. The company has strong market recognition and it has a track record of strong financial performance, she added.
The initial public offering of Stallion India Fluorochemicals Ltd, which was open between January 16 and January 21, received a whopping 188.29 times subscription garnering bids for 2,92,09,16,790 shares against 1,55,12,978 shares on offer. The retail category received a 96.81 times subscription in total, the NII portion got 422.35 times subscription. Its QIB category has been subscribed to by 172.93 times.
