Prasol Chemicals IPO subscribed 41%

The offer received bids for 22.43 lakh shares as against 54.43 lakh shares on offer.

The initial public offer of Prasol Chemicals received bids for 22,43,120 shares as against 54,43,229 shares on offer, according to stock exchange data at 17:00 IST on 8 September 2026. The issue was subscribed 0.41 times.

The issue opened for bidding on 7 September 2026 and will close on 9 September 2026. The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and multiples thereof.

The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer for sale aggregating up to Rs 80 crore by existing shareholders. The objectives of the fresh issue include Rs 60 crore for repayment/prepayment of certain outstanding borrowings, with the remaining amount to be used for general corporate purposes.

The promoters and promoter group hold an aggregate of 5,17,35,560 equity shares, aggregating 89.2% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 77.84%.

Prasol Chemicals is a forward-integrated manufacturer of acetone- and phosphorus-based specialty chemicals, along with other differentiated products. Established in 1992, the company has over 33 years of experience and offers a portfolio of more than 150 products serving over 1,600 customers across 69 countries. It operates two manufacturing facilities at Khopoli and Mahad in Maharashtra, with an aggregate installed capacity of 98,644 tonnes per annum. Its products cater to performance chemicals, paints, inks, construction and adhesives, pharmaceuticals, agrochemicals, and home and personal care segments. In FY26, acetone-based specialty chemicals contributed 42.75% of revenue, phosphorus-based specialty chemicals 38.30%, and other specialty chemicals 18.33%.

Ahead of the IPO, Prasol Chemicals on Monday, 8 August 2026, raised Rs 149.99 crore from anchor investors. The board allotted 22.18 lakh shares at Rs 676 each to 14 anchor investors.

The firm reported a consolidated net profit of Rs 83.12 crore and sales of Rs 1,232.59 crore for the twelve months ended on 31 March 2026.

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