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Prasol IPO Underwhelmed: Only 41% Subscribed
8 Sep
Summary
- Prasol Chemicals IPO saw only 41% subscription by closing.
- The company aims to raise Rs 580 crore via fresh issue and OFS.
- Prasol manufactures specialty chemicals and exports to 69 countries.
The Initial Public Offering (IPO) of Prasol Chemicals closed on September 9, 2026, with a subscription rate of 41%. Bids were received for 22.43 lakh shares against the 54.43 lakh shares available for the offer.
The IPO comprised a fresh issue of shares to raise up to Rs 500 crore and an offer for sale of up to Rs 80 crore. Funds from the fresh issue are designated for repaying borrowings and general corporate purposes.
Prasol Chemicals, established in 1992, is a manufacturer of acetone- and phosphorus-based specialty chemicals. The company has accumulated over 33 years of experience, offering more than 150 products to over 1,600 customers in 69 countries.
Operating two manufacturing facilities in Maharashtra, Prasol Chemicals serves diverse sectors including performance chemicals, paints, inks, construction, pharmaceuticals, and personal care. In FY26, revenue was predominantly driven by acetone-based specialty chemicals (42.75%) and phosphorus-based specialty chemicals (38.30%).
Ahead of the IPO, the company successfully raised Rs 149.99 crore from anchor investors on August 8, 2026. For the twelve months ending March 31, 2026, Prasol Chemicals reported a consolidated net profit of Rs 83.12 crore on sales of Rs 1,232.59 crore.
