Prasol Chemicals Ltd., a Navi Mumbai-based specialty chemicals producer, has applied for an initial public offering to sell shares worth up to Rs 500 crore in the stock market.
The IPO consists of a fresh issue of equity shares of face value of Rs 2 each, aggregating up to Rs 80 crore, and an offer for sale by promoters worth up to Rs 420 crore, as per draft offer documents.
The company plans to utilise up to Rs 60 crore from the net proceeds in the fresh issue towards repayment of debt. As of August 31, 2025, the total sanctioned and outstanding indebtedness (excluding accrued interest) was Rs 454 crore and Rs 296 crore, respectively.
The remaining funds will be deployed for general corporate purposes.
Ten promoter entities will offload equity via the OFS.
DAM Capital Advisors Ltd. is the sole merchant banker to the IPO.
About Prasol Chemicals
Prasol Chemicals manufactures acetone and phosphorous-based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries.
The company has over 150 specialty chemical products and 1,107 customers and exports to 69 countries, as of July 31, 2025, as per the DRHP.
Exports contributed nearly 30% of the revenue in the financial year 2025.
Prasol Chemicals operates manufacturing facilities in Maharashtra's Khopoli and Mahad, with an aggregate installed capacity of 87,914 metric tonnes per annum.
Notable clients include Alembic Pharmaceuticals Ltd., Bharat Rasayan Ltd., Coromandel International Ltd., Rossari Boitech Ltd., and Supriya Lifescience Ltd.
The company generated a revenue of Rs 1,012 crore in FY25, compared to Rs 876 crore in FY24 and Rs 930 crore the previous year. Operating margin improved to 8.67% in the last fiscal, from 6.91% in FY24.
Net profit came in at Rs 43.6 crore in FY25, more than double from Rs 18 crore a year ago.
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