Stallion India Fluorochemicals gets Sebi's nod to raise funds through IPO

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Stallion India Fluorochemicals gets Sebi's nod to raise funds through IPO - Business Standard

Quick Summary:

Refrigerants supplier Stallion India Fluorochemicals has received Sebi's go-ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.

Stallion India Fluorochemicals, which filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi) in March 2024, obtained its observation letter from the regulator on July 18, the update showed.

The proposed 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).