In its Draft Red Herring Prospectus (DRHP), Stallion India Fluorochemicals outlines its IPO plans, which include a fresh issuance of up to 1.78 crore equity shares and an offer-for-sale (OFS) of up to 43.02 lakh shares by promoter Shazad Sheriar Rustomji.
The money raised from the initial public offering (IPO) will be used for general corporate purposes, investments in new facilities in Andhra Pradesh and Maharashtra, and improving working capital. This move marks a significant step for the company, which specializes in small and bulk-scale gas distribution and has years of experience with fluorochemicals.
As per the company’s draft papers, it plans to allocate Rs 95 crore for increased working capital needs, Rs 29.2 crore for its semiconductor and specialty gas debulking and blending facility located in Khalapur, Maharashtra, and Rs 21.2 crore for the refrigerant debulking and blending facility situated in Mambattu, Andhra Pradesh, as the fresh issue proceeds.
The only book-running lead manager, Sarthi Capital Advisors, assures a smooth IPO procedure, and Bigshare Services has been appointed as the issue’s registrar.
Stallion India Fluorochemicals is approaching an important stage with its upcoming IPO, focusing on strategic investments to improve operational efficiency. The company’s strategic allocation of funds and appointed partners indicate a promising entry into the public market.
