Home / Business and Economy / Prasol IPO Sees 56% Subscription on Day 2
Prasol IPO Sees 56% Subscription on Day 2
10 Sep
Summary
- Prasol Chemicals IPO was 56 percent subscribed on its second day.
- Retail investors showed strong interest, subscribing 91 percent.
- The company aims to use Rs 60 crore for debt repayment.
The initial public offering (IPO) of Prasol Chemicals Ltd. experienced a 56 percent subscription rate by the second day of bidding, September 9, 2026. As of 11:40 am, bids were received for 30,35,868 shares against the 54,43,229 shares available.
Retail investors were particularly active, with their allocated portion being subscribed 91 percent. The non-institutional investor category saw a subscription rate of 46 percent. The overall issue, a Rs 500-crore book-built offering, comprises a fresh issue and an offer for sale.
Prasol Chemicals plans to utilize Rs 60 crore of the net proceeds for the repayment and pre-payment of certain borrowings. The remaining funds will be allocated to general corporate purposes. The company reported significant financial growth, with total income rising to Rs 1,237.85 crore in FY26 and profit after tax increasing to Rs 83.12 crore.
The IPO price band is set between Rs 643 to Rs 676 per share. The subscription period concludes on September 10, 2026. Share allotment is anticipated by September 11, 2026, with a tentative listing date on the NSE and BSE scheduled for September 16, 2026.
