Prasol Chemicals IPO: The initial public offering of Prasol Chemicals Ltd. will open for bidding in a few hours today. The IPO is a book build issue of Rs 500 crore.
Prasol Chemicals IPO is a combination of fresh issue of 11.83 lakh shares aggregating to Rs 80 crore and offer for sale of 62.13 lakh shares aggregating to Rs 420 crore.
The issue will close on Sept 10, 2026. The allotment for the Prasol Chemicals IPO is expected to be finalised on Sept. 11, 2026. Prasol Chemicals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026.
Prasol Chemicals IPO has fixed its issue price band between Rs 643 and Rs 676 per share. The lot size for an application is 22 shares and the minimum amount of investment required by an individual retail investor is Rs 14,872 or 22 shares (based on upper price).
Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar to the issue.
GMP Check
The trend for Prasol Chemicals shares remains healthy in the unlisted market with the grey market premium (GMP) at Rs 55 as of 7:02 a.m. on Tuesday.
Prasol Chemicals IPO's estimated listing price is Rs 731 (cap price + today's GMP). The expected percentage gain per share is 8.14%.
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Brokerage Takes
SBI Securities, Ventura, and Anand Rathi Stock Brokers have bullish calls on the IPO, and have recommended traders to subscribe to the issue.
"Prasol Chemicals is a highly diversified specialty chemical player and the only manufacturer of isophorone in India," SBI Securities noted.
Further, the company has recorded Revenue/EBITDA/Adj. PAT compound annual growth rate of 18.6%/51.7%/97.8% respectively over the FY24-FY26 period.
"Going ahead, the company intends to utilise Rs 60 crore of the fresh proceeds to repay its borrowings, which shall further de-leverage its already lean balance sheet," the brokerage said.
It added that potential recovery in losses at the Mahad unit alongside future expansion plans, set a strong
investment case for the company.
Anand Rathi has a subsribe for long term view on the IPO and Ventura also advised traders to subscribe to the issue based off of its strong financial performance.
Some risks to the issue include: manufacturing disruptions, highlighted by a fatal gas leak and subsequent MPCB closure direction at Mahad in October 2023, raw-material price volatility for acetone and phosphorus, and customer concentration.
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