Stallion India Fluorochemicals inventory hits higher circuit after debuting at a premium. Shares traded at ₹126 and ₹125.99 on the NSE and BSE, respectively.
The shares have been listed on inventory exchanges at ₹120, a 33 per cent premium over the IPO worth of ₹90. The GMP indicated the inventory would listing at 35-40 per cent premium.
The IPO acquired 188.38 occasions subscriptions. The 199.45 crore IPO comprised of a recent subject of 1.78 crore fairness shares and an offer-for-sale (OFS) element of 43.02 lakh shares by its promoter Shazad Sheriar Rustomji.
The proceeds have been for use in the direction of funding working capital necessities, capital expenditure for its proposed amenities in Maharashtra and Andhra Pradesh, and common company functions.
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Stallion India Fluorochemicals is engaged within the sale of refrigerants and industrial gases, together with associated merchandise. The corporate serves a various vary of industries, together with air-conditioning and refrigeration, firefighting, semiconductor manufacturing, car manufacturing, prescribed drugs and medicals, glass bottle manufacturing, aerosols, and spray foam purposes.
Sarthi Capital Advisors was the only e book operating lead supervisor, whereas Bigshare Companies was the registrar to the problem.