Stallion India Fluorochemicals IPO

Stallion India Fluorochemicals Limited specialises in refrigerant and industrial gases, including debulking, blending, and pre-filled cans. Their refrigerants serve industries like HVAC, automotive, fire safety, and semiconductors. With four facilities across India, they prioritise safety and environmental care while offering customised solutions to clients. The company has achieved significant revenue growth, reporting ₹23,519.93 lakhs in FY23 and a CAGR of 40.34% (FY21-23). Led by promoter Shazad Sheriar Rustomji, Stallion leverages over 30 years of expertise to innovate and deliver high-quality fluorochemical products.

IPO Strengths

• Operating for over two decades under the “Stallion” brand, the company enjoys a solid reputation in the refrigerant gases industry, supported by promoter experience exceeding 30 years.

• Efficient operations, timely deliveries, and quality control drive significant operational growth and consistent cash flows.

• Serving various industries, the company reduces risk through diversification and long-term client relationships.

• Facilities near key markets enhance logistical efficiency and meet demand swiftly.

• Demonstrated consistent revenue growth and improved balance sheet positions.

• Decades of expertise in management enable market trend anticipation and strategic growth.

Stallion India Fluorochemicals IPO Key Financials (in crore)

Particulars	30 Sept 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	235.69	203.14	126.18	98.01
Revenue	141.53	236.23	226.06	186.34
Profit After Tax	16.57	14.79	9.75	21.11
Reserves and Surplus	22.19	48.81
Total Borrowings	81.05	65.35	18.27	1.97

Stallion India Fluorochemicals Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	Fresh Issue: 1,78,58,740 shares (aggregating to ₹160.73 crore) Offer for Sale (OFS): 43,02,656 (aggregating to ₹38.72 crore)
IPO Dates	Mentioned below
Price Bands	₹85 to ₹90 per share
Lot Size	165 Shares
Face Value	₹10 per share
Listing Exchange	BSE, NSE
Shareholding pre-issue	6,14,66,514 shares
Shareholding post -issue	7,93,25,254 shares

Stallion India Fluorochemicals IPO Important Dates

IPO Activity	Date
IPO Open Date	16 January 2025
IPO Close Date	20 January 2025
Basis of Allotment Date	21 January 2025
Refunds Initiation	22 January 2025
Credit of Shares to Demat	22 January 2025
IPO Listing Date	23 January 2025

Stallion India Fluorochemicals IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	1	165	₹14,850
Retail (Max)	13	2145	₹1,93,050
S-HNI (Min)	14	2310	₹2,07,900
S-HNI (Max)	67	11,055	₹9,94,950
B-HNI (Min)	68	11,220	₹10,09,800

Stallion India Fluorochemicals IPO Lead Managers

Lead Managers

Sarthi Capital Advisors Private Limited

Stallion India Fluorochemicals Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	2.54
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	12.54%
Net Asset Value (NAV)	31.61
Return on Equity	12.54%
Return on Capital Employed (ROCE)	13.96%
EBITDA Margin	11.3%
PAT Margin	6.26%
Debt to Equity Ratio	0.55

Stallion India Fluorochemicals IPO Peer Group Comparison

Face Value (₹)	PAT  (₹ in Lakhs)	EPS (₹)	P/E Ratio	RoNW (%)
Stallion India Fluorochemicals Limited	10.00	1,624.40	2.54	12.54%
Peer Groups
Navin Fluorine International Limited	2.00	31,249.00	62.83	59.42	14.60
SRF Limited	10.00	2,02,336.00	68.26	30.17	21.87
Gujarat Fluorochemicals Limited	1.00	1,35,560.35	123.41	23.24	24.52

Objectives of the Proceeds

• Funding incremental working capital requirements of the company, with an allocation of ₹9,500.00 lakhs.

• Funding capital expenditure requirements for the semiconductor and specialty gas debulking and blending facility located in Khalapur, Maharashtra, with an allocation of ₹2,915.54 lakhs.

• Funding capital expenditure requirements for the refrigerant debulking and blending facility located in Mambattu, Andhra Pradesh, with an allocation of ₹2,117.53 lakhs.

• Allocating funds for general corporate purposes.