Prasol Chemicals IPO opens today: Should you apply? Check price band, fresh GMP, reviews & more
Prasol Chemicals IPO is selling its shares in the price band of Rs 643-676 apiece, applied for a minimum of 22 shares and its multiples to raise Rs 500 crore between September 8-10.
- Sep 8, 2026,
- Updated Sep 8, 2026 9:44 AM IST
Prasol Chemicals, whose Rs 500 crore IPO opens for subscription on Tuesday, September 08, has managed to garner positive reviews from the analysts, mostly suggesting to subscribe to it citing its healthy return ratios, sound financials, entry barriers and diversified global customer bases. However, a few analysts remain cautious over low capacity utilization, higher OFS components and rich valuations.
Prasol Chemicals is selling its shares in the range of Rs 643-676 apeice with a lot size of 22 equity shares and its multiple thereafter to raise a total of Rs 500 crore. The issue includes a fresh share sale of Rs 80 crore, used for debt repayment, and an offer-for-sale (OFS) of up to Rs 420 crore by promoters and existing shareholders. The issue will close for bidding on Thursday, September 10.
Prasol Chemicals is a highly diversified specialty chemical player and the only manufacturer of isophorone in India. It has recorded revenue, EBITDA and PAT CAGR of 18.6 per cent, 51.7 per cent and 97.8 per cent respectively over the FY24- FY26 period. Potential recovery in losses at the Mahad unit alongside future expansion plans, set a strong investment case for Prasol, said SBI Securities.
It intends to utilize Rs 60 crore of the fresh proceeds to repay its borrowings, which shall further de-leverage its already lean balance sheet (D/E ratio of 0.1 times post-repayment). The issue is valued at FY26 P/E multiple of 48.1x based on post-issue capital. The issue appears to be reasonably valued alongside relatively better return ratios," it added with a 'subscribe for long-term' rating.
Incorporated in 1992, Thane-based Prasol Chemicals operates in the specialty chemicals industry. It manufactures over 150 specialty chemicals, including acetone-based, phosphorous-based, and other complex chemicals. Its product portfolio includes 21 acetone-based chemicals, 53 phosphorous-based chemicals, and 76 other specialty chemicals.
Prasol is a niche specialty chemicals player with over 150 products, 1,600 customers and exports to 69 countries. Its revenue and PAT grew strongly from FY24–26, with EBITDA margin improving to 11.7 per cent. FY26 RoNW stood at 18.5 per cent, ahead of most peers, said Swastika Investmart.
"At 45-47 times P/E, valuation looks fair-to-full, leaving limited room for error. Given the rich valuation, investors can consider the stock after listing, once financial performance stabilises and the valuation becomes more reasonable," it added with a 'neutral' rating for the issue.
Ahead of its IPO, Prasol Chemicals raised Rs 150 crore from 14 anchor investors as it allocated 22,18,930 equity shares at Rs 676 apeice. Its anchor book included names like Nuvama Multi Asset Strategy, Clarus Capital I, Edelweiss Trusteeship Co, ITI MF, 360 One Equity Opportunity Fund, Turnaround Opportunities Fund, Aditya Birla Life Insurance, Tata MF and more.
Parasol's specialty chemicals business benefits from high entry barriers, driven by lengthy customer approval cycles, complex chemistry, high product-development costs and stringent regulatory requirements. However, their business is dependent on manufacturing facilities wherein unplanned shutdown happens creating disruption in operational activities, said Anand Rathi.
"Prasol is seeking a P/E of 48 times, making the issue appears to be fully priced. Overall strong product depth, R&D-led innovation and a diversified global customer base position the company well to capture long-term growth opportunities in specialty chemicals. Hence, we assign a subscribe for long term rating for the issue," it added. Prasol Chemicals has a highly diversified portfolio and it is among the largest importers of acetone with a global distribution network spanning 63 countries. Its proposed expansion at Saykha, Gujarat, provides further capacity for future growth, said Master Capital Services, which has a 'subscribe for long-term' rating for the issue. Ventura also gave a thumbs-up to the issue with a 'subscribe' tag.
Prasol Chemicals reported a net profit at Rs 83.12 crore with a revenue of Rs 1,237.85 crore for the financial year ended on March 31, 2026. Its net profit stood at Rs 43.57 crore with a revenue of Rs 1.015.54 crore for the financial year 2024-25. At current valuations, it shall command a market capitalization little over Rs 4,000 crore.
Prasol has reserved 50 per cent shares of qualified institutional bidders (QIBs), 15 per cent for non-institutional investors (NIIs) and 15 per cent for retail investors. Last heard, it was commanding a grey market premium of Rs 55 apiece, hinting at 8 per cent gains for the investors. DAM Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue.
Prasol Chemicals, whose Rs 500 crore IPO opens for subscription on Tuesday, September 08, has managed to garner positive reviews from the analysts, mostly suggesting to subscribe to it citing its healthy return ratios, sound financials, entry barriers and diversified global customer bases. However, a few analysts remain cautious over low capacity utilization, higher OFS components and rich valuations.
Prasol Chemicals is selling its shares in the range of Rs 643-676 apeice with a lot size of 22 equity shares and its multiple thereafter to raise a total of Rs 500 crore. The issue includes a fresh share sale of Rs 80 crore, used for debt repayment, and an offer-for-sale (OFS) of up to Rs 420 crore by promoters and existing shareholders. The issue will close for bidding on Thursday, September 10.
Prasol Chemicals is a highly diversified specialty chemical player and the only manufacturer of isophorone in India. It has recorded revenue, EBITDA and PAT CAGR of 18.6 per cent, 51.7 per cent and 97.8 per cent respectively over the FY24- FY26 period. Potential recovery in losses at the Mahad unit alongside future expansion plans, set a strong investment case for Prasol, said SBI Securities.
It intends to utilize Rs 60 crore of the fresh proceeds to repay its borrowings, which shall further de-leverage its already lean balance sheet (D/E ratio of 0.1 times post-repayment). The issue is valued at FY26 P/E multiple of 48.1x based on post-issue capital. The issue appears to be reasonably valued alongside relatively better return ratios," it added with a 'subscribe for long-term' rating.
Incorporated in 1992, Thane-based Prasol Chemicals operates in the specialty chemicals industry. It manufactures over 150 specialty chemicals, including acetone-based, phosphorous-based, and other complex chemicals. Its product portfolio includes 21 acetone-based chemicals, 53 phosphorous-based chemicals, and 76 other specialty chemicals.
Prasol is a niche specialty chemicals player with over 150 products, 1,600 customers and exports to 69 countries. Its revenue and PAT grew strongly from FY24–26, with EBITDA margin improving to 11.7 per cent. FY26 RoNW stood at 18.5 per cent, ahead of most peers, said Swastika Investmart.
"At 45-47 times P/E, valuation looks fair-to-full, leaving limited room for error. Given the rich valuation, investors can consider the stock after listing, once financial performance stabilises and the valuation becomes more reasonable," it added with a 'neutral' rating for the issue.
Ahead of its IPO, Prasol Chemicals raised Rs 150 crore from 14 anchor investors as it allocated 22,18,930 equity shares at Rs 676 apeice. Its anchor book included names like Nuvama Multi Asset Strategy, Clarus Capital I, Edelweiss Trusteeship Co, ITI MF, 360 One Equity Opportunity Fund, Turnaround Opportunities Fund, Aditya Birla Life Insurance, Tata MF and more.
Parasol's specialty chemicals business benefits from high entry barriers, driven by lengthy customer approval cycles, complex chemistry, high product-development costs and stringent regulatory requirements. However, their business is dependent on manufacturing facilities wherein unplanned shutdown happens creating disruption in operational activities, said Anand Rathi.
"Prasol is seeking a P/E of 48 times, making the issue appears to be fully priced. Overall strong product depth, R&D-led innovation and a diversified global customer base position the company well to capture long-term growth opportunities in specialty chemicals. Hence, we assign a subscribe for long term rating for the issue," it added. Prasol Chemicals has a highly diversified portfolio and it is among the largest importers of acetone with a global distribution network spanning 63 countries. Its proposed expansion at Saykha, Gujarat, provides further capacity for future growth, said Master Capital Services, which has a 'subscribe for long-term' rating for the issue. Ventura also gave a thumbs-up to the issue with a 'subscribe' tag.
Prasol Chemicals reported a net profit at Rs 83.12 crore with a revenue of Rs 1,237.85 crore for the financial year ended on March 31, 2026. Its net profit stood at Rs 43.57 crore with a revenue of Rs 1.015.54 crore for the financial year 2024-25. At current valuations, it shall command a market capitalization little over Rs 4,000 crore.
Prasol has reserved 50 per cent shares of qualified institutional bidders (QIBs), 15 per cent for non-institutional investors (NIIs) and 15 per cent for retail investors. Last heard, it was commanding a grey market premium of Rs 55 apiece, hinting at 8 per cent gains for the investors. DAM Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue.