Stallion India Fluorochemicals Ltd is expected to complete the initial public offering (IPO) allotment on Tuesday. The stock will be listed on exchanges on Thursday (January 23). Winners will have the shares deposited in their demat accounts, and refunds will be issued for those who have not received their allotment.
The Rs 199.45 crore initial public offering (IPO) subscription, which was available for subscription between the 16th of January and to 20th of January, received an enthusiastic response from the 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 retail investor quota was subscribed 96.90 times over, and the non-institutional investor (NII) quota was subscribed 422.42 times over. The qualified institutional buyers (QIB) portion was filled up 172.93 times.
Grey market premium
A grey market premium of Stallion India has increased rapidly following strong demand for the same. As of the last check, it was revealed that the stock is available at Rs 138 in the unofficial market, which means that there are more than 53% listing gains for the investors.
Here’s how to check the allotment status
Investors can see the allotment status of their holdings on the BSE website or Bigshare Services Pvt Ltd (the registrar of public offer of shares).
On BSE website:
1) Visit www.bseindia.com/investors/applicheck.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 Bigshare Services Pvt Ltd website: (www.bigshareonline.com/ipoAllotment.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 is a major player in the refrigerant and industrial gas business. It is well known in the market and boasts a good financial track record.
Brokerage view
It is selling the matter at a price band of Rs 85-90 per share with a p/e multiple of 22x on the basis of the p/e multiple of post-issue annualized H1FY25 PAT (profit after tax). It has shown operating and financial performance and growth. In addition, the company has a high-growth industry customer base and a deep and strong customer relationship.
It has blending/processing plants in multiple states, as well as value chain and supply chain efficiencies. Additionally, Stallion India is managed by professionals and Shahzad Sheriar Rustomji has experienced leadership. “We recommend ‘Subscribe’ on the issue,” Hem Securities said.
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