Refrigerants supplier Stallion India Fluorochemicals has filed preliminary papers with markets regulator Securities & Exchange Board of India (SEBI) to raise funds through an initial share sale.
The initial public offering (IPO) comprises a fresh issue of up to 1.78 crore equity shares and an offer-for-sale (OFS) component of up to 43.02 lakh shares by its promoter Shazad Sheriar Rustomji, as per the Draft Red Herring Prospectus (DRHP).
The proceeds from the issue will be used towards funding working capital requirements, capital expenditure requirements for its proposed facilities in Maharashtra and Andhra Pradesh, and general corporate purposes, according to the DRHP filed on Monday.
Stallion India Fluorochemicals is a supplier of refrigerants and various gases, catering to both bulk and small cylinder/container requirements. It has extensive experience in large-scale Fluorochemicals debulking bottling and distribution.
The company's shares are proposed to be listed on the NSE and BSE.
Sarthi Capital Advisors is the sole book running lead manager, while Bigshare Services is the registrar to the issue.
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