Stallion India Fluorochemicals Limited has informed the Exchange regarding Notice of Postal Ballot
STALLION · price
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Stallion India Fluorochemicals is seeking shareholder approval via postal ballot to modify how its IPO proceeds (₹16,072.87 Lakhs from January 2025 IPO) will be used. The main change involves replacing the planned construction of a 20,000 sq. ft. warehouse at Khalapur facility (₹7.67 Crore) with acquisition of adjoining land (₹7.80 Crore) for strategic expansion. The company also reported deviations: excess issue expenses of ₹3.99 Crore due to 188x oversubscription, and excess working capital utilization of ₹3.71 Crore. General Corporate Purpose funds of ₹340.88 Lakhs have been reallocated to working capital. Total utilization so far is ₹13,562.88 Lakhs with ₹2,729.75 Lakhs unutilized.
This is a routine post-IPO variation request. The deviations are minor and appear commercially justified. The land acquisition swap creates a tangible asset but reduces near-term capital deployment visibility. Shareholders should note the company spent more on IPO costs and working capital than originally planned.