Prasol Chemicals IPO: Price Band, Lot Size, Financials & Review
Prasol Chemicals IPO listed on BSE & NSE on Wed, 16 Sep 2026. The issue was subscribed 3.47x overall.
- Open Date
- 8 Sep 2026
- Close Date
- 10 Sep 2026
Last updated
- Price band
- ₹643 – ₹676
- Lot size
- 22 shares
- Min. investment
- ₹14,872
- Issue size
- ₹500 Cr
- Last GMP
- -₹13
- Subscribed
- 🔥 3.47x
Prasol Chemicals IPO details
Prasol Chemicals IPO is a ₹500 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹80 Cr (16.00%) with an offer for sale of ₹420 Cr (84.00%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Tue, 8 Sep 2026 to Thu, 10 Sep 2026. Allotment was finalised on Fri, 11 Sep 2026, and the shares listed on BSE & NSE on Wed, 16 Sep 2026.
The price band is ₹643 to ₹676 per share and the lot size is 22 shares, so the minimum retail application is ₹14,872. Retail investors can apply for up to 13 lots (286 shares, ₹1,93,336).
KFin Technologies Limited is the registrar, and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Prasol Chemicals IPO GMP before listing was -₹13 (-1.92% against the upper price band of ₹676), implying an estimated listing price of ₹663. Across 10 days of tracking, GMP ranged from -₹15 (11 Sep) to +₹115 (06 Sep).
| Last GMP | -₹13 |
|---|---|
| GMP vs upper band | -1.92% |
| Estimated listing price | ₹663 |
| Highest (06 Sep) | +₹115 |
| Lowest (11 Sep) | -₹15 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Prasol Chemicals IPO day-wise GMP.
Subscription
Day-wise subscription →Prasol Chemicals IPO was subscribed 3.47x overall: QIB 7.59x, NII 1.89x and retail 1.79x.
| Category | Subscribed |
|---|---|
| QIB | 7.59x |
| NII | 1.89x |
| └ bNII (above ₹10 lakh) | 1.22x |
| └ sNII (₹2–10 lakh) | 3.23x |
| Retail | 1.79x |
| Total | 3.47x |
Final figures at the close of bidding on 10 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Prasol Chemicals IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 22,18,930 | 30.00% |
| Qualified Institutions | 14,79,289 | 20.00% |
| Non-Institutional | 11,09,466 | 15.00% |
| └ BNII | 7,39,644 | 10.00% |
| └ SNII | 3,69,822 | 5.00% |
| Retail Investors | 25,88,753 | 35.00% |
| Total | 73,96,438 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Prasol Chemicals IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,872 |
| Retail (Max) | 13 | 286 | ₹1,93,336 |
| S-HNI (Min) | 14 | 308 | ₹2,08,208 |
| S-HNI (Max) | 67 | 1,474 | ₹9,96,424 |
| B-HNI (Min) | 68 | 1,496 | ₹10,11,296 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹80 Cr (16.00%) with an offer for sale of ₹420 Cr (84.00%) by existing shareholders. Only the fresh issue money goes to the company.
P/E is not meaningful here because earnings per share is zero or negative.
Listed peers with positive earnings trade at a median P/E of 42.67x (7 companies).
Promoter holding falls from 89.20% before the issue to 77.51% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹14.33 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | — |
| EPS (post-issue) EPS on the enlarged share capital | ₹0 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | — |
| Promoter holding (pre-issue) | 89.20% |
| Promoter holding (post-issue) | 77.51% |
Prasol Chemicals Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹1,015.54 Cr to ₹1,237.85 Cr, and profit after tax rose from ₹43.57 Cr to ₹83.12 Cr. The PAT margin for 31 Mar 2026 was 6.71%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 839.28 | 723.09 | 626.36 |
| Total Income | 1,237.85 | 1,015.54 | 887.56 |
| Profit After Tax | 83.12 | 43.57 | 18.13 |
| EBITDA | 139.32 | 87.77 | 60.53 |
| Net Worth | 448.51 | 367.46 | 325.84 |
| Reserve & Surplus | 436.91 | 355.87 | 314.24 |
| Total Borrowings | 110.06 | 101.05 | 82.07 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 20.37 | 12.57 | 5.71 |
| ROCE % | 22.43 | 14.95 | 12.61 |
| Debt / Equity | 0.19 | 0.23 | 0.22 |
| RoNW % | 18.53 | 11.86 | 5.56 |
| Pat Margin % | 6.74 | 4.30 | 2.07 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Prasol Chemicals Ltd | 2 | — | 14.33 | 14.33 | 18.53% | 77.33 |
| Aarti Industries Limited | 5 | 46.79 | 11.56 | 11.55 | 7.04% | 164.27 |
| Atul Limited | 10 | 28.04 | 230.25 | 230.25 | 10.95% | 2,136.46 |
| Laxmi Organic Industries Ltd | 2 | 59.95 | 2.87 | 2.86 | 4.00% | 71.66 |
| Vinati Organic Limited | 1 | 30.95 | 42.80 | 42.80 | 14.03% | 304.99 |
| Privi Speciality Chemicals Ltd | 10 | 42.67 | 81.08 | 81.08 | 21.99% | 368.79 |
| Yasho Industries Ltd | 10 | 206.68 | 20.95 | 20.95 | 5.69% | 368.18 |
| Excel Industries Ltd | 5 | 17.12 | 60.19 | 60.19 | 4.44% | 1,354.74 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Repayment or pre-payment, in full or in part, of certain of our outstanding borrowings availed by our Company |
| 2 | General corporate purposes |
About Prasol Chemicals Limited
Incorporated in 1992, Prasol Chemicals Limited is a specialty chemicals manufacturer focused on complex and differentiated chemistries, with more than three decades of industry experience. The Company manufactures over 150 specialty chemicals across three broad categories: acetone-based, phosphorus-based, and other customised specialty chemicals. As of June 30, 2026, its portfolio comprised 21 acetone-based chemicals, 53 phosphorus-based chemicals and 76 other specialty chemicals, including surfactants, esters and acids.
The Company’s products cater to diverse application industries, including performance chemicals, paints, inks, construction and adhesives (PICA), pharmaceuticals, agrochemicals, and home and personal care.
Manufacturing Facilities: Prasol Chemicals operates two manufacturing facilities in Maharashtra, located at Khopoli and Mahad, with manufacturing areas of approximately 1,20,604 sq. m. and 1,19,423 sq. m., respectively. The facilities have an aggregate installed capacity of 98,644 metric tonnes per annum.
Customer Base and Global Presence: The Company serves a diversified customer base, including Alembic Pharmaceuticals, Lubrizol India, Rossari Biotech, Clean Science, Gharda Chemicals, Croda India, Supriya Lifescience and Yasho Industries, among others. During FY2026, the Company served 1,618 customers, with repeat customers contributing 93.3% of revenue, reflecting strong customer retention. Its products are sold in domestic and international markets, with exports accounting for 27.3% of FY2026 revenue. The Company is a 3-Star Export House recognised by the Government of India and has a distribution network spanning APAC, North and South America, and Europe.
Research & Development: R&D is a key component of the Company’s growth strategy. As of June 30, 2026, Prasol Chemicals had 37 in-house R&D personnel, 40 products in its development pipeline, and had commercialised 13 products since April 2023. The Company had an employee base of 775 as of June 30, 2026.
Competitive Strengths:
Diversified portfolio of specialty chemicals serving multiple application industries
Strong in-house R&D capabilities with a pipeline of new products
Long-standing relationships with a diversified customer base
Established global presence and export distribution network
Experienced and qualified management team
Consistent financial performance and track record
Promoters
- Nishith Rajnikant Shah
- Gaurang Natwarlal Parikh
- Dhaval Nalin Parikh
- Pankil Nishith Dharia
- Sachin Jatin Parikh
- Rakesh Gupta
- Nishith Rasiklal Dharia
- Kunal Tushar Dharia
- Suketu Navinchandra Parikh
- Usha Rajnikant Shah
Contact details
Prasol Chemicals Ltd.
Prasol House, Plot No A - 17/2/3,
T. T. C, Industrial Area, Khairne M.I.D.C.,
Navi Mumbai,
Thane, Maharashtra, 400710
Phone: +91 22 6195 2500
Email: investorservices@prasolchem.com
Website: https://www.prasolchem.com/
Prasol Chemicals IPO FAQs
- What is the Prasol Chemicals IPO price band?
- The Prasol Chemicals IPO price band is ₹643 to ₹676 per share.
- What is the Prasol Chemicals IPO lot size and minimum investment?
- The Prasol Chemicals IPO lot size is 22 shares. The minimum retail investment is ₹14,872 for one lot at the upper price band. Retail investors can apply for up to 13 lots (286 shares), costing ₹1,93,336.
- When was Prasol Chemicals IPO open for subscription?
- Prasol Chemicals IPO was open for subscription from Tue, 8 Sep 2026 to Thu, 10 Sep 2026.
- What is the Prasol Chemicals IPO subscription status?
- Prasol Chemicals IPO was subscribed 3.47x overall: QIB 7.59x, NII 1.89x and retail 1.79x. Day-wise and category-wise figures are on the subscription page.
- What was the Prasol Chemicals IPO GMP before listing?
- The last Prasol Chemicals IPO GMP before listing was -₹13 (-1.92% against the upper price band of ₹676), implying an estimated listing price of ₹663. Across 10 days of tracking, GMP ranged from -₹15 (11 Sep) to +₹115 (06 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Prasol Chemicals IPO allotment date?
- The Prasol Chemicals IPO basis of allotment was finalised on Fri, 11 Sep 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Prasol Chemicals IPO listing date?
- Prasol Chemicals IPO listed on BSE & NSE on Wed, 16 Sep 2026.
- Is the Prasol Chemicals IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹80 Cr (16.00%) with an offer for sale of ₹420 Cr (84.00%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Prasol Chemicals IPO?
- The registrar for the Prasol Chemicals IPO is KFin Technologies Limited, and the book running lead manager is Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd).
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.