Stallion India Fluorochemicals IPO Details
Issue Date
--
Price Range
₹85 - ₹90
Lot Size
165
IPO Size
₹199.45 Cr
Stallion India Fluorochemicals IPO Listing Details
Listing On
23 Jan'25
Issue Price
₹90
Listed Price
₹ 120
Retail Gain/Listing Gain
▲33.33%
Schedule of Stallion India Fluorochemicals IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
23/01/2025
About Stallion India Fluorochemicals Ltd IPO
The Stallion India Fluorochemicals Ltd IPO is a 100% book-built offer. It consists of a fresh issue and an issue for sale. The fresh issue comprises 1,78,58,740 equity shares that adds up to ₹160.73 crores, while 43,02,656 equity shares worth ₹38.72 crores constitute the offer for sale portion.
Objectives of Stallion India Fluorochemicals Ltd IPO
- Funding incremental working capital requirements of the company
- Funding capital expenditure requirements for its semiconductor and specialty gas debulking and blending facility in Khalapur, Maharashtra
- Funding capital expenditure requirements for its refrigerant debulking and blending facility in Mambattu, Andhra Pradesh
- General corporate purposes
Stallion India Fluorochemicals Ltd IPO Valuation
Upper Price Band | TBA |
Fresh Issue | 1,78,58,740 Equity Shares worth ₹160.73 crores |
Offer for Sale | 43,02,656 Equity Shares worth ₹38.72 crores |
EPS (in ₹) for FY 24 | 2.41 |
Stallion India Fluorochemicals Ltd IPO Lot Size
Retail (Min) | 1 | 165 | ₹14,850 |
Retail (Max) | 13 | 2145 | ₹1,93,050 |
S-HNI (Min) | 14 | 2,310 | ₹2,07,900 |
S-HNI (Max) | 67 | 11,055 | ₹9,94,950 |
B-HNI (Min) | 68 | 11,220 | ₹10,09,800 |
Stallion India Fluorochemicals Ltd IPO Share Offer and Subscription Details
QIBs | Not more than 50% of the offer |
Non-institutional bidders | Not less than 15% of the offer |
Retail individual bidders | Not less than 35% of the offer |
Industry Outlook
The Indian fluorochemicals and specialty gases market is anticipated to witness substantial growth, with a projected CAGR of 17% during the forecast period from 2024 to 2028. This growth will be driven by rising demand from various industries, including electronics, healthcare, and manufacturing.
Company Information
Stallion India Fluorochemicals Ltd is into the business of selling refrigerant gases, industrial gases and related products. Its primary business consists of debulking, blending and processing of refrigerant and Industrial gases and selling of pre-filled cans.
Strengths of Stallion India Fluorochemicals Ltd IPO
Strong Market Recognition
Stallion India Fluorochemicals Ltd has been in the field for more than two decades and its promoters have experience of over three decades. It has strong market recognition in the refrigerant gas industry, which has enabled the company to distinguish itself from its competitors.
Business Model with Visibility of Cash Flows and Ability to Mitigate Operational Risk
Operational efficiency, facilitating timely deliveries, and maintaining quality control measures are core competencies of the company. These factors have been instrumental in helping the company develop relationships within the industry, resulting in significant growth in its operations.
Diversified Customer Base Across High Growth Industries and Long-standing Relationships with Customers
The company caters to a diverse clientele spanning various industries. These include manufacturers of air conditioners and refrigerators, firefighting equipment, semiconductor manufacturing, automobile manufacturing, pharma and medicals, semiconductors, glass bottle manufacturing, aerosols, and spray foam.
Risks of Stallion India Fluorochemicals Ltd IPO
-
The company's revenue from operations depends significantly on sale of refrigerant gases and is restricted to certain geographies only. Any changes in the requirement policy or a decline in demand, could adversely affect its ability to grow or maintain its sales, earnings and cash flow.
-
Increases in the cost of raw materials as a percentage of its revenue from operations could have an adverse effect on the company's results of operations and financial condition.
-
The company's revenue from operations depends significantly on one product i.e. “R-32”. Any changes in the customer policy or a decline in the demand of the said product, or delays in the placement of orders by the customers, may affect its ability to grow or maintain its sales, earnings, and cash flow.
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The supply of its products is subject to periodical fluctuations.
All Financial Information about Stallion India Fluorochemicals Ltd
Comparison with peers
Sales in crore for FY 24 | 236.2263 | 1,488.20 | 10,906.09 | 4088.07 |
PAT in ₹ crore for FY 24 | 14.7883 | 235.17 | 1,374.03 | 41,875 |
EPS in ₹crore for FY 24 | 2.54 | 47.44 | 46.35 | 38.12 |
Return on net worth for FY 23 | 12.54% | 10.22% | 13.07% | 7.07% |
IPO Registrar and Book Running Lead Managers
Sarthi Capital Advisors Private Ltd is the book running lead manager of the Stallion India Fluorochemicals Ltd IPO. Its registrar is Bigshare Services Private Ltd.
Business Model
The company deals in gases, used as refrigerants, that are broadly classified as fluorochemicals. They are majorly used as refrigerants and fall in the categories of HC (hydrocarbons), HFCs (Hydrofluorocarbons) and HFOs (Hydrofluoroolefins).
Company Growth Trajectory
In six months ended September 30, 2023 and Fiscal 2023, 2022 and 2021, the company's revenue from operations were ₹9,274.39 lakhs, ₹22,550.44 lakhs, ₹18,588.27 lakhs and ₹11,797.38 lakhs, respectively. It has witnessed consistent improvement in its balance sheet position in the last fiscal.
Market Position
Stallion India Fluorochemicals Ltd sells its product under the brand name “Stallion.” The company has been in the field for more than two decades and has promoters with over three decades of experience and strong market recognition in the refrigerant gases industry.
Stallion India Fluorochemicals Ltd Profit and Loss
Total Income (in ₹ crore) | 235.1993 | 186.3407 | 119.4152 |
Profit Before Tax (in ₹ crore) | 232.619 | 300.709 | 134.276 |
EBITDA (in lakh) | 25.8866 | 33.0088 | 15.2585 |
Stallion India Fluorochemicals Ltd Balance Sheet
Profit Before Tax (in ₹ crore) | 21.26 | 2,326.19 | 3,007.09 |
Net Cash from Operating Activities (in₹ crore) | (73.4479) | (281.14) | 798.95 |
Net Cash from Investing Activities (in₹ crore) | 12.1358 | 133.791 | (79.65) |
Net Cash from Financing Activities (in ₹ crore) | 76.4364 | 15.5782 | (8.1556) |
Cash and Cash Equivalents at the end of the Period (in ₹ crore) | 1.61363 | 1.0120 | 1.6243 |
How to Check Allotment Status of Stallion India Fluorochemicals Limited IPO?
You can check the allotment status of the Stallion India Fluorochemicals Ltd IPO on the BSE website and on the website of the registrar - Bigshare Services Pvt Ltd. Follow these steps to check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is Stallion India Fluorochemicals Ltd
- Enter your application number or PAN number
- Check the box that says “I’m not a Robot” and click on “Search” to know the allotment status
To check the status on the website of Bigshare Services Pvt Ltd:
- Visit the website of Bigshare Services Pvt Ltd
- Select any one server among the three
- Select the company’s name, Stallion India Fluorochemicals Ltd, in this case from ‘Company Selection’ dropdown
- Enter either the ‘Application Number’, ‘Beneficiary ID’ or ‘PAN Number’
- Enter the captcha and click on ‘Search’
How To Apply for Stallion India Fluorochemicals Ltd IPO?
Here are the steps to apply for Stallion India Fluorochemicals Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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