Stallion India Fluorochemicals IPO: The IPO of Stallion India Fluorochemicals, a company involved in the business of refrigerants and industrial gases, opened on Thursday, January 15. Today is the second day of this IPO. This IPO will close next week on Monday, January 20. Till 11.10 am on Friday, January 17, this IPO has received about 13 times subscription. But it is believed that its subscription may reach quite high on Monday, the last day.
Company wants to raise Rs 199.45 crore from IPO
Stallion India Fluorochemicals is looking to raise a total of Rs 199.45 crore from its IPO. Under its IPO, the company has fixed the price band of Rs 85 to Rs 90 for each share. Let us tell you that this is a mainboard IPO, which will be listed on both the major exchanges of the Indian stock market, BSE and NSE. A total of 2,21,61,396 shares with face value of Rs 10 will be issued under this IPO. There will be 1,78,58,740 fresh shares worth Rs 160.73 crore while 43,02,656 shares worth Rs 38.72 crore will be issued by the promoters of the company through OFS.
The company will be listed in the stock market on January 23.
After the IPO closes on Monday, January 20, the allotment of shares will be done on Tuesday, January 21. The shares will be transferred to the demat accounts of investors on January 22 and finally, the company will be listed on the stock exchange on Thursday, January 23.
GMP reduced from Rs 48 to Rs 38
The company’s IPO is getting good support from investors so far. Therefore, there is a lot of buzz regarding the shares of the company in the gray market also. On Friday, January 17, the company’s shares are trading with a GMP of Rs 38 (42.22%) in the gray market. However, the company’s shares were trading at Rs 21 on January 14, Rs 48 on January 15 and then Rs 38 on January 16 with a GMP. But, till the time of listing, there may be considerable fluctuations in the GMP price of the company’s shares.
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