Prasol Chemicals IPO opens September 08; check price band, issue size and other key details

Maharashtra-based Prasol Chemicals, which manufactures acetone- and phosphorus-based speciality chemicals, will open its Rs 500-crore initial public offering for subscription on September 8. The maiden public issue comprises a fresh issue of shares worth Rs 80 crore and an offer for sale of up to Rs 420 crore by promoters and other existing shareholders.

The price band has been fixed at Rs 643-676 per share, valuing the company at Rs 4,000.8 crore. The anchor book will open for one day on September 7, while the IPO will close on September 10. Share allotment is likely to be finalised by September 11, and the company is expected to list on the stock exchanges on September 16.

Half of the issue has been reserved for qualified institutional buyers, while 35 per cent has been earmarked for retail investors and 15 per cent for non-institutional investors. Incorporated in 1992, Prasol Chemicals makes acetone- and phosphorus-based speciality chemicals as well as other speciality chemicals, including non-acetone- and non-phosphorus-based customised speciality chemicals such as surfactants, performance additives, ethers, esters, polymers and acids.

The company has a portfolio of 150 speciality chemical products used across industries including performance chemicals such as lubricant additives and mining chemicals, PICA, or paints, inks, construction and adhesives, pharmaceuticals, agrochemicals, and home and personal care.

Prasol Chemicals said it will use Rs 60 crore from the net proceeds of the fresh issue to repay debt, against outstanding indebtedness of Rs 343.7 crore as of July 15, 2026. The remaining proceeds will be used for general corporate purposes, while the entire proceeds from the offer for sale will go to the selling shareholders.

In FY26, acetone-based speciality chemicals contributed 43 per cent of revenue, followed by phosphorus-based speciality chemicals at 38 per cent and other speciality chemicals at 18 per cent. Prasol Chemicals competes with listed companies including Aarti Industries, Laxmi Organic Industries, Vinati Organics and Privi Speciality Chemicals.

The company reported a standalone profit of Rs 83.1 crore and revenue of Rs 1,232.5 crore for the financial year ended March 2026. On a consolidated basis, profit rose 140.3 per cent to Rs 43.6 crore in FY25 from Rs 18.1 crore in FY24, while revenue increased 15.5 per cent to Rs 1,012.5 crore from Rs 876.6 crore.

DAM Capital Advisors is managing the IPO. Prasol Chemicals' issue will be one of six mainboard IPOs opening for subscription next week, alongside Kanohar Electricals, Glass Wall Systems, Pranav Constructions, Arcil and Veegaland Developers.