Stallion India Fluorochemicals Ltd IPO saw strong interest from investors on its final day of bidding on January 20. The issue was subscribed over 188 times in three days. The IPO received bids for 292 crore shares as against the issue size of 1.55 crore shares.

Non Institutional Investors (NIIs) massively lead the subscription rally, booking the portion reserved for them by nearly 422 times. Retail investors subscribed their reserved portion by around 97 times. Qualified Institutional Buyers (QIBs) participated in heavy numbers on the final day of bidding. The portion reserved for them was subscribed 173 times by the end of Day 3.

The IPO comprises a fresh issue of 1.78 crore equity shares and an offer-for-sale (OFS) of 43.02 lakh shares. Stallion India Fluorochemicals has set a price band of Rs 85 to Rs 90 per share for the IPO. At the upper end of the price band, the size of the issue stands at Rs 199.45 crore. Investors can bid for a minimum of 165 shares, requiring an investment of Rs 14,850.

The IPO will remain open for subscription from January 16 to January 20. The allotments are expected to be declared on January 21. The shares are likely to debut on BSE and NSE on January 23.

Before the IPO opened for public bidding, the company raised Rs 59.83 crore from six institutional investors via anchor book on January 15. "Finalised the allocation of 66.48 lakh equity shares to anchor investors at a price of Rs 90 per equity share," the company said in its filing to exchanges.

Stallion India Fluorochemicals is involved in the business of refrigerant and industrial gases.