Prasol Chemicals IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 7.59x |
| NII | 1.89x |
| sNII (₹2L–₹10L) | 3.23x |
| bNII (above ₹10L) | 1.22x |
| Retail (RII) | 1.79x |
| Total | 3.47x |
Bidding day 3 · final figures at close of bidding: 16 Sept 2026, 6:30 pm IST
IPO Details
- Open Date
- 8 Sept 2026
- Close Date
- 10 Sept 2026
- Listing Date
- 16 Sept 2026
- Face Value
- ₹2
- Fresh Issue
- ₹80 Cr
- OFS
- ₹420 Cr
- Listing On
- NSE, BSE
- Registrar
- KFin Technologies (KFintech)
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,872 |
| Retail (Max) | 14 | 308 | ₹2,08,208 |
| B-HNI (Min) | 68 | 1,496 | ₹10,11,296 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 22,18,930 | 30% |
| QIB (ex-anchor) | 14,79,288 | 20% |
| NII | 11,09,466 | 15% |
| — sNII (< ₹10L) | 3,69,822 | 5% |
| — bNII (> ₹10L) | 7,39,644 | 10% |
| Retail | 25,88,753 | 35% |
| Total | 73,96,437 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 887.56 | 18.13 | 60.53 | 325.84 | 626.36 | 82.07 | — |
| FY 2025 | 1,015.54 | 43.57 | 87.77 | 367.46 | 723.09 | 101.05 | — |
| FY 2026 | 1,237.85 | 83.12 | 139.32 | 448.51 | 839.28 | 110.06 | 14.33 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- RoNW
- 18.53%
- RoE
- 20.37%
- RoCE
- 22.43%
- Debt / Equity
- 0.19
- EPS (pre-issue)
- ₹14.33
- EBITDA Margin
- 11.3%
- PAT Margin
- 6.74%
- NAV / share
- ₹77.33
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company | ₹60 Cr |
| General Corporate Purposes | ₹16.39 Cr |
| Issue Expenses | ₹21.95 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| BRLM’s fees and commissions (including underwriting commission, brokerage and selling commission | ₹11.87 Cr |
| Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹0.67 Cr |
| Fees payable to the Registrar to the Offer | ₹0.04 Cr |
| Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | ₹2.45 Cr |
| Printing and stationery | ₹0.18 Cr |
| Advertising and marketing expenses | ₹0.79 Cr |
| Fee payable to legal counsel, the statutory auditor, independent chartered account, independent chartered engineer | ₹2.79 Cr |
| Miscellaneous | ₹3.17 Cr |
Promoters & Shareholding
Promoters: <p>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</p>
- Holding (pre-issue)
- 86.89%
- Holding (post-issue)
- 75.25%
- Dilution
- 11.64%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| ADITYA BIRLA SUN LIFE INSURANCE CO.LTD. | Insurance | 2,95,878 | ₹676 | 20 | 13.33% |
| TATA AIA LIFE INSURANCE CO.LTD.-SMALL CAP DISCOVERY FUND (ULIF 071 22/05/23 SCF 110) | Insurance | 2,95,878 | ₹676 | 20 | 13.33% |
| TURNAROUND OPPORTUNITIES FUND | Other | 2,21,892 | ₹676 | 15 | 10% |
| ITI SMALL CAP FUND | Other | 2,21,914 | ₹676 | 15 | 10% |
| CLARUS CAPITAL I | Other | 1,77,352 | ₹676 | 11.99 | 7.99% |
| NUVAMA MULTI ASSET STRATEGY RETURN FUND | Other | 1,47,950 | ₹676 | 10 | 6.67% |
| TATA INDIA PHARMA & HEALTHCARE FUND | Other | 1,47,950 | ₹676 | 10 | 6.67% |
| TATA INDIA INNOVATION FUND | Other | 1,47,928 | ₹676 | 10 | 6.67% |
| EDELWEISS AGGRESSIVE HYBRID FUND | Other | 1,47,950 | ₹676 | 10 | 6.67% |
| KOTAK SPECIAL OPPORTUNITIES FUND | Other | 1,17,898 | ₹676 | 7.97 | 5.31% |
| KOTAK HEALTHCARE FUND | Other | 1,17,876 | ₹676 | 7.97 | 5.31% |
| 360 ONE EQUITY OPPORTUNITY FUND-SERIES IV | Other | 73,986 | ₹676 | 5 | 3.33% |
| KOTAK RURAL OPPORTUNITIES FUND | Other | 60,104 | ₹676 | 4.06 | 2.71% |
| EDELWEISS RECENTLY LISTED IPO FUND | Other | 44,374 | ₹676 | 3 | 2% |
Anchor bidding took place on 7 Sept 2026. Anchor lock-in: 50% of shares unlock on 10 Oct 2026, the remainder on 9 Dec 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW |
|---|---|---|---|---|
| Prasol Chemicals | 14.33 | 77.33 | — | 18.53% |
| Aarti Industries Ltd. | 11.56 | 164.27 | 46.75x | 7.04% |
| Atul Ltd. | 230.25 | 2,136.46 | 28.04x | 10.95% |
| Excel Industries Ltd | 60.19 | 1,354.74 | 17.12x | 4.44% |
| Laxmi Organic Industries Ltd. | 2.87 | 71.66 | 59.74x | 4% |
| Privi Speciality Chemicals Ltd. | 81.08 | 368.79 | 42.67x | 21.99% |
| Vinati Organic Ltd. | 42.8 | 304.99 | 30.95x | 14.03% |
| Yasho Industries Ltd | 20.95 | 368.18 | 206.68x | 5.69% |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | May Apply |
Third-party analyst views on the Prasol Chemicals IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Listing Performance
About the Prasol Chemicals IPO
The Prasol Chemicals mainboard IPO is open between 8 Sept 2026 and 10 Sept 2026, offered at a price band of ₹643–676 per share, and is set to list on NSE and BSE. The IPO seeks to raise ₹500 crore. Retail investors bid in lots of 22 shares, a minimum application of ₹14,872.
Issue structure
The offer combines a fresh issue of ₹80 crore with an offer for sale (OFS) of ₹420 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company (₹60 crore), alongside issue expenses (₹21.95 crore). In all, 3 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Prasol Chemicals reported revenue of ₹1,237.85 crore and a net profit of ₹83.12 crore. Revenue grew from ₹887.56 crore in FY2024 to ₹1,237.85 crore in FY2026 (+39.0%). Net worth stood at ₹448.51 crore at the end of FY2026. At the upper band, that puts the issue at roughly 47.2× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Peer comparison
The offer document names listed peers including Aarti Industries Ltd. and Atul Ltd., with a median peer P/E of about 42.7×.
Promoters
The promoters of the company are <p>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</p>. Promoter holding stands at 86.89% before the issue and comes down to 75.25% after listing.
Grey market premium (GMP)
In the unofficial grey market, Prasol Chemicals shares are quoted at a premium of ₹-13 implying an expected listing around ₹663, about -1.9% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Prasol Chemicals IPO was subscribed 3.47 times overall. The strongest demand came from qualified institutional buyers (QIB) at 7.59 times, with non-institutional investors (NII) at 1.89× and retail investors at 1.79×.
Listing performance
Prasol Chemicals listed on 16 Sept 2026 at ₹611, a discount of -9.6% over the issue price of ₹676.
What to weigh
When evaluating the Prasol Chemicals IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Prasol Chemicals
Prasol Chemicals (Prasol Chemicals Ltd.) is a specialty chemicals company. It filed its draft red herring prospectus (DRHP) with SEBI on 14-Oct-2025, and received SEBI observations (approval) on 25-Mar-2026. The proposed IPO (fresh capital cum ofs) is expected to list on BSE and NSE. Dam Capital is acting as a lead manager. IPO dates, price band and lot size have not been announced yet — this page updates automatically once they are.
Prasol Chemicals — Contact Details
- Registered office
- 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
- Website
- www.prasolchem.com/
- Registrar (IPO queries)
- prasol.ipo@kfintech.com
Frequently asked questions
- What is the Prasol Chemicals IPO price band?
- The Prasol Chemicals IPO price band is ₹643 to ₹676 per share, with a lot size of 22 shares.
- What was the Prasol Chemicals IPO GMP before listing?
- The final grey market premium recorded before the Prasol Chemicals IPO listed was ₹-13. The IPO listed on 16 Sept 2026 at ₹611, -9.6% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Prasol Chemicals IPO open and close?
- The Prasol Chemicals IPO opens on 8 Sept 2026 and closes on 10 Sept 2026.
- When is the Prasol Chemicals IPO allotment and listing date?
- Allotment is expected on 11 Sept 2026. The shares are scheduled to list on 16 Sept 2026 on NSE and BSE.
- How many times was the Prasol Chemicals IPO subscribed?
- The Prasol Chemicals IPO was subscribed 3.47 times in total across all investor categories.
- What is the reservation split in the Prasol Chemicals IPO?
- Of the total shares offered, retail investors get 35%, QIBs 20% (plus 30% anchor), non-institutional investors 15%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Prasol Chemicals and what is their holding?
- The promoters are <p>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</p>. Promoter holding is 86.89% before the issue and 75.25% after listing.
- What are the objects of the Prasol Chemicals IPO?
- The net proceeds go primarily toward repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company, among 3 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Prasol Chemicals IPO?
- The book-running lead manager is Dam Capital Advisors Ltd.. KFin Technologies (KFintech) is the registrar to the issue.
- Is Prasol Chemicals a Mainboard or SME IPO?
- Prasol Chemicals is a Mainboard IPO, listing on NSE and BSE.