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Stallion India IPO
Price Band
₹85.0–90.0
Issue Size
₹199.45 Cr
Lot Size
165 shares
Min Investment
₹14,850
GMP
+₹35.0 (38.89%)
Issue Price
₹90.0
Subject to Sauda
₹4400
Paid only if allotted
Stallion India IPO AI Summary
- Stallion India IPO is listed on BSE, NSE in the Industrial Gases sector.
- Price band: ₹85.0–₹90.0 per share, lot size 165 shares (min. investment ₹14,850).
- Subscription window: 16 Jan–20 Jan 2025, listing on 23 Jan 2025.
- Current GMP is +₹35.0 (38.89%), an estimated listing price of ₹125 — unofficial and can change daily.
Stallion India Fluorochemicals Limited is set to launch its IPO with a price band of ₹85.0 to ₹90.0. The company operates in the industrial gases sector, focusing on refrigerants and related products. With a strong market presence and a solid growth strategy, the IPO aims to raise funds for working capital and capital expenditures.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Stallion India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 20 Jan 2025 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Stallion India IPO Grey Market Premium (GMP) Today
GMP
+₹35.0
GMP %
+38.89%
Est. Listing
₹125.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in 2002, Stallion India Fluorochemicals Limited is engaged in the business of selling Refrigerant and Industrial Gases and related products. The company's primary business includes debulking, blending and processing Refrigerant and Industrial gases, and selling of pre-filled cans and small Cylinders/ Containers. The company has four Plants in Khalapur, Raigad (Maharashtra), Ghiloth, Alwar (Rajasthan), Manesar, Gurugram (Haryana) and Panvel, Raigad (Maharashtra). Stallion India Fluorochemicals Limited (Stallion) deals in gases that are broadly classified as Fluorochemicals. They are majorly used as refrigerants. Stallion's products such as gases are used in various industries, including semiconductor manufacturing, automotive, electronics, pharmaceuticals, healthcare, fire extinguishers, spray foam, glass bottle making, and aerosol production. Competitive Strengths: Strong Market recognition Business model and ability to mitigate operational risk Customer base across high growth industries and long-standing relationships with customers Experienced Promoter and Key Managerial Personnel Track record of consistent financial performance Plants
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 235.69 | 203.14 | 126.18 | 98.01 |
| Total Income | 141.53 | 236.23 | 226.06 | 186.34 |
| Profit After Tax | 16.57 | 14.79 | 9.75 | 21.11 |
| NET Worth | 134.53 | 117.96 | 70.70 | 60.94 |
| Total Borrowing | 81.05 | 65.35 | 18.27 | 1.97 |
Key Ratios
EPS
₹2.41
NAV
₹19.19
ROE
12.54%
ROCE
13.96%
RoNW
12.54%
P/B Value
4.69
P/E Ratio
37.41
Market Cap
₹713.93 Cr
PAT Margin
6.26%
Debt/Equity
0.55
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|
| Gujarat Fluorochemicals Ltd | 7.07% | 108.36 | 38.12 |
| Srf Ltd. | 13.07% | 49.3 | 46.35 |
| Navin Fluorine International Limited | 10.22% | 70.82 | 47.44 |
| Stallion India Fluorochemicals Limited This IPO | 12.54% | — | 2.54 |
Promoters
Shazad Sheriar Rustomji, Manisha Shazad Rustomji and Rohan Shazad Rustomji
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding incremental working capital requirements of Company 95.00 2 Funding capital expenditure requirements for Semi-conductor & Specialty Gas debulking & blending facility (Khalapur 29.16 3 Funding capital expenditure requirements for Refrigerant debulking & blending facility (Mambattu 21.18 4 General Corporate Purposes 3.41 5 Issue Expenses 14.88 Total 163.62
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹186.34 Cr in the year ended 31 Mar 2022, increasing to ₹226.06 Cr by 31 Mar 2023, and further rising to ₹236.23 Cr in the year ended 31 Mar 2024. However, the most recent figure of ₹141.53 Cr as of 30 Sep 2024 is a 9-month figure and not directly comparable to the full-year figures.
Profit Trend
Profit After Tax was ₹21.11 Cr in the year ended 31 Mar 2022, which decreased to ₹9.75 Cr by 31 Mar 2023, but then rose to ₹14.79 Cr in the year ended 31 Mar 2024. The latest figure of ₹16.57 Cr as of 30 Sep 2024 is also a 9-month figure and not directly comparable to the full-year figures.
Valuation
Stallion India Fluorochemicals Limited has an implied P/E of approximately 35.43 at the issue price, based on an EPS of ₹2.54. This is compared to peers trading at P/E ratios ranging from 49.3 to 108.36.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of an IPO's potential listing price. It reflects the demand and supply dynamics in the grey market, where shares are traded prior to their official listing. A positive GMP suggests strong demand for the IPO, while a negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term investment horizon typically weigh IPOs like this against their financial goals and risk tolerance. It's essential to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, as they can be subject to high volatility and market fluctuations in the initial trading period.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on January 16, 2025, and closes on January 20, 2025. Allotments will be finalized on January 21, 2025, and shares are expected to be listed on January 23, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors, including market sentiment and demand for the stock. Investors should be aware that while some IPOs may experience significant gains on listing day, others may not perform as expected.
This evaluation is generated from Stallion India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Stallion India IPO GMP today?
Stallion India IPO GMP today is +₹35.0 (38.89%), indicating an estimated listing price of ₹125. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Stallion India IPO?
The price band of Stallion India IPO is ₹85.0–₹90.0 per share.
When does Stallion India IPO open and close?
Stallion India IPO opens on 16 January 2025 and closes on 20 January 2025.
When does Stallion India IPO list on the stock exchange?
Stallion India IPO listed on 23 January 2025 at ₹125.0.
What is the lot size for Stallion India IPO?
The lot size for Stallion India IPO is 165 shares, requiring a minimum investment of ₹14,850.
What is the price band for the Stallion India IPO?
The price band for the Stallion India IPO is ₹85.0 to ₹90.0.
What is the minimum investment required?
The minimum investment required is ₹14,850.
What is the lot size for this IPO?
The lot size for the Stallion India IPO is 165 shares.
When is the listing date for the IPO?
The listing date for the IPO is January 23, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
16 Jan 2025
Close
20 Jan 2025
Allotment
21 Jan 2025
Listing
23 Jan 2025
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