A subscription rate of 32 times by Day 2, showcasing significant investor interest. Here are the key points from the update:
Key Highlights:
- Subscription Rate: 32 times on Day 2, indicating high demand.
- Listing Date: Scheduled for 23rd January 2025.
- Share Allotment Date: Likely to occur on 21st January 2025.
- Registrar: Bigshare Services Pvt. Ltd. is managing the allotment process.
GMP (Grey Market Premium):
The Grey Market Premium (GMP) is a crucial indicator of the IPO’s potential performance upon listing.
The Stallion India IPO has garnered significant attention, with a subscription rate of 32 times by the second day, highlighting strong investor demand. Key details include:
- Subscription Status: Oversubscribed 32 times on Day 2.
- Listing Date: Shares are set to debut on 23rd January 2025.
- Allotment Date: Expected on 21st January 2025.
- Registrar: The allotment process is being handled by Bigshare Services Pvt. Ltd.
Additionally, the Grey Market Premium (GMP) offers insight into the IPO’s expected performance on listing day.
The Stallion India IPO witnessed strong demand on Day 2, with the issue being oversubscribed 32 times by Friday. According to NSE data, the IPO received bids for 49.73 crore shares against the 1.55 crore shares available for sale.
- The non-institutional investor (NII) portion was oversubscribed 77.04 times, while the retail individual investors (RII) category saw 30.93 times subscription.
- The qualified institutional buyers (QIB) segment received 31% subscription.
At the upper price band, the IPO is valued at ₹199.45 crore. Stallion India Fluorochemicals, a refrigerant supplier, set the price band for its IPO at ₹85-₹90 per share on Tuesday.
The offering includes a fresh issue of 1.78 crore equity shares and an offer-for-sale (OFS) of 43.02 lakh shares by promoter Shazad Sheriar Rustomji.
Market observers monitoring grey market premium (GMP) trends report that Stallion India shares are trading at a premium of approximately 50% in the unofficial market. According to Investorgain, the shares have a GMP of ₹44, indicating a potential listing premium of 48.89%.
The IPO shares are scheduled to be listed on 23rd January, with the allotment likely to occur on 21st January.
