Prasol Chemicals' Rs 500-crore IPO opened for subscription on Sept. 8 and closes on Sept. 10. As the bidding for the IPO concluded on Day 1, the latest grey market premium (GMP) indicates a potential listing gain of 7.40%, if the premium holds until listing.
The GMP for the mainboard issue was as high as Rs 165 on Sept. 4 before declining sharply in the days leading up to the IPO opening on Sept. 8.
The IPO was subscribed 0.41 times as of 5:00 p.m. on Tuesday
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
Investors considering the Prasol Chemicals IPO should keep these key details in mind before subscribing.
Prasol Chemicals IPO GMP Today
The GMP for Prasol Chemicals IPO stood at Rs 50 as of 5:00 p.m. on Sept. 8. With the upper price band of Rs 676, the IPO's estimated listing price is Rs 726 (cap price + GMP). This implies a potential listing gain of 7.40% over the upper price band.
Prasol Chemicals IPO: Key Details
The IPO of Prasol Chemicals is a book build issue of Rs 500 crore. The issue 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 worth Rs 420 crore.
The price band for the IPO is set between Rs 643 and Rs 676 per share.
To participate in the IPO, retail investors must bid for at least a single lot of 22 shares. This means a minimum amount of investment required by an individual investor (retail) is Rs 14,872 (based on upper price).
Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
For more details on the IPO, check the red herring prospectus here: Prasol Chemicals RHP
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Prasol Chemicals IPO Key Dates
- Bidding window opens: Sept. 8
- Bidding window closes: Sept. 10
- Allotment finalisation: Sept. 11
- Refund initiation: Sept. 15
- Credit of Shares to Demat accounts: Sept. 15
- Listing date: Sept. 16
ALSO READ: Prasol Chemicals IPO Day 1: Should You Subscribe? Check Reviews
Use Of Proceeds
The company will use the net proceeds for the repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company (Rs 60 crore).
The remaining funds will be used for general corporate purposes.
Company Financials
The revenue of Prasol Chemicals increased by 22% and profit after tax (PAT) rose by 91% between the financial year ending with March 31, 2026, and March 31, 2025.
For FY26, Prasol Chemicals reported:
- Total income: Rs 1,237.85 crore, compared with Rs 1,015.54 crore in FY25
- Profit after tax (PAT): Rs 83.12 crore, up from Rs 43.57 crore in the previous financial year
- EBITDA: Rs 139.32 crore versus Rs 87.77 crore a year earlier
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About Prasol Chemicals Ltd.
Incorporated in 1992, Prasol Chemicals operates in the speciality chemicals industry. The company manufactures over 150 speciality chemicals, including acetone-based, phosphorus-based, and other complex chemicals. Its product portfolio includes 21 acetone-based chemicals, 53 phosphorus-based chemicals, and 76 other speciality chemicals (e.g., surfactants, esters, acids).
The products cater to five major industries: performance chemicals, including lubricant and mining additives; paints, inks, construction and adhesives (PICA); pharmaceuticals; agrochemicals; and home and personal care.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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