Stallion India Fluorochemicals Limited — Others, 17-05-2025: Monitoring Agency Report

Stallion India Fluorochemicals Ltd. has announced a Monitoring Agency Report by CARE Ratings on its IPO proceeds usage of Rs.160.72 crore. Most funds were used for working capital (Rs.94.14 Cr), capital expenditure at its Khalapur semiconductor and specialty gas facility (Rs.0.64 Cr), and share issue expenses (Rs.11.98 Cr). Some documentation for issue expenses is incomplete, so reliance on CA certificates was necessary. Unutilized proceeds of Rs.53.96 Cr remain in fixed deposits and bank accounts. Recently, the company appointed a new CFO and Company Secretary. The share price has declined from its issue and peak levels, indicating market volatility.