Promoter Commitment to Strengthen R-32 Project Execution at Bhilwara, Rajasthan

Stallion India Fluorochemicals Limited (SIFL), a leading integrated refrigerant and industrial gas company, announced that the promoter has sold a portion of his shareholding to raise funds, which will be infuse into the company on an interest-free basis. The funds will be utilized towards the development of the company's R-32 manufacturing facility at Bhilwara, Rajasthan.

This strategic initiative has been undertaken to ensure the timely commencement of groundwork and construction activities for the project. Notably, this infusion has been structured without any equity dilution, reflecting the promoter's continued confidence and long-term commitment to the company's growth trajectory.

Mr. Shazad Rustomji - Managing Director & CEO of Stallion India Fluorochemicals Limited, commented: "The decision to sell 16,20,987 shares amounting to ₹45.74 crores and infuse the entire amount into the company on an interest-free basis was to ensure that work on our R-32 manufacturing project at Bhilwara begins without any delay. This reflects my strong confidence in Stallion's strategic direction and my commitment to advancing our vision of self-reliance in fluorochemicals manufacturing. There has been no dilution in equity, thereby maintaining our capital structure while enabling timely execution of this key growth initiative."

Shares of Stallion India Fluorochemicals Limited was last trading in BSE at Rs. 260.65 as compared to the previous close of Rs. 274.35. The total number of shares traded during the day was 474653 in over 430 trades.

The stock hit an intraday high of Rs. 276.70 and intraday low of 260.65. The net turnover during the day was Rs. 123735219.00.

Source : Equity Bulls

Keywords

StallionIndiaFluorochemicals INE0RYC01010 IndustrialGases StakeSale