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₹676 - 676Day cells show that day's addition; Now is the running total. Amounts at the upper price band.
Prasol Chemicals Ltd
ChemicalsIPO
₹676 - 676
Our Company was incorporated in 1992 and with over 33 years of experience in the specialty chemicals industry, we are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries. According to the CARE Report, we are a highly diversified specialty chemical player with over 150 specialty chemical products and over 1,600 customers and exports to 69 countries, as of July 15, 2026. Our products find diversified applications across numerous industries with 5 key segments being: (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care (Application Industries).
Lot22Min Invest₹14,872Face Value₹2Issue Size₹500 CrFresh Issue₹80 CrOffer for Sale₹420 CrListing Price₹610CMP₹727
Timeline
8 Sept
Bidding opens
10 Sept
Bidding closes
11 Sept
Allotment
15 Sept
Refund & demat credit
16 Sept
Listing
Subscription · As of 7:29 PM, 10 Sept
Demand by day
CategoryDay 1Day 2Day 3Now+0.00x+0.05x+7.17x7.22x+0.31x+0.35x+1.14x1.80x+0.69x+0.45x+0.57x1.70xOverall+0.41x+0.31x+2.58x3.30x
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB7.22x35.18 L2.54 Cr1,716.81NII1.80x10.55 L18.96 L128.15Retail1.70x24.62 L41.97 L283.74Total3.30x73.96 L2.44 Cr1,650.00
Reports
Offer Details
Terms
Issue Size₹500 Cr0.74 Cr shares
Fresh Issue₹80 Cr
Offer for Sale₹420 Cr
Face Value₹2
Lot Size22 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,8721-13 lots
sNII₹2,08,208from 14 lots
bNII₹10,11,296from 68 lots
Managers & Registrar
Lead ManagerDAM Capital Advisors Limited
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrUsha Rajnikant Shah (held jointly with Nishith Rajnikant Shah and Shah Sandhya Nishith)PRMTR17,75,147120.00Tushar Natverlal Dharia (HUF)PRMTR7,62,11551.52Gaurang Natwarlal Parikh HUFPRMTR2,74,24518.54Bhisham Kumar Gupta (held jointly with Raksha Bhisham Gupta)PRMTR5,77,36639.03Nishith Rasiklal Dharia (held jointly with Sonal Nishith Dharia)PRMTR4,73,37232.00Sonal Nishith Dharia (held jointly with Nishith Rasiklal Dharia)PRMTR5,20,71035.20Sachin Jatin Parikh (held jointly with Shruti Sachin Parikh)PRMTR4,73,37232.00Suketu Navinchandra Parikh (held jointly with Lina Suketu Parikh)PRMTR88,7576.00Gaurang Natwarlal Parikh (held jointly with Tanvi Gaurang Parikh)PRMTR5,23,00235.35Jignasha Jay Kantawala (held jointly with Jay Shailesh Kantawala)PRMTR59,1714.00Kinjal Pankil Dharia (held jointly with Pankil Nishith Dharia)PRMTR71,0054.80Lina Suketu Parikh (held jointly with Suketu Navinchandra Parikh)PRMTR7,5440.51Pushpa Navinchandra Parikh (held jointly with Suketu Navinchandra Parikh)PRMTR81,3605.50Shruti Sachin Parikh (held jointly with Sachin Jatin Parikh)PRMTR1,16,8637.90Sundeep Navinchandra Parikh (held jointly with Sheetal Sandeep Parikh)PRMTR51,7753.50Tushar Natverlal Dharia (held jointly with Ami Tushar Dharia)PRMTR7,6920.52Dipak Amarshi (held jointly with Ushma Amarshi)OTH1,33,1369.00Heta T ParikhOTH95,8876.48Namita Tushar ParikhOTH1,13,0917.64Sheetal Sandeep Parikh (held jointly with Sundeep Navinchandra Parikh)OTH7,3960.50Total62,13,006420.00
Shareholding
CategoryPre IPOPost IPOPromoter Group86.83%75.21%Public13.17%24.79%
Objects of the Issue
- Repayment or pre-payment, in full or in part, of certain of the outstanding borrowings availed by the Company
- General corporate purposes
Anchor Book
Bid Date07-Sep-2026Bid Price₹676Shares22,18,930Amount₹150 CrMutual Funds45.34% of the book30-day lock-in10-Oct-202690-day lock-in09-Dec-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 896 | 930 | 877 | 1,012 | 1,233 |
| Operating ProfitCr | 133 | 87 | 61 | 88 | 139 |
| OPM% | 14.8 | 9.3 | 6.9 | 8.7 | 11.3 |
| PBTCr | 111 | 58 | 34 | 59 | 112 |
| PATCr | 83 | 49 | 18 | 44 | 83 |
| EPS | 14 | 8 | 3 | 8 | 14 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 12 | 12 | 12 | 12 | 12 |
| ReservesCr | 251 | 298 | 314 | 356 | 437 |
| BorrowingsCr | 162 | 186 | 83 | 102 | 111 |
| Fixed AssetsCr | - | - | - | - | 314 |
| Total AssetsCr | 682 | 692 | 626 | 723 | 839 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 81 | 29 | 116 | 22 | 49 |
| Investing Cash FlowCr | -48 | -52 | -18 | -23 | -38 |
| Financing Cash FlowCr | -12 | 11 | -115 | 10 | 0 |
| Net Cash FlowCr | 28 | -13 | -11 | 7 | 7 |
Strengths & Risks
Strengths · as stated in the DRHP
- Highly diversified product portfolio used across various Application Industries.
- Well established R&D capabilities driving innovation with strong pipeline of products to address customised customer requirements.
- Long standing relationships with a diversified customer base and strong global presence.
- Experienced, Qualified and Professional Leadership Team with a focus on business sustainability.
- Robust financial performance.
Strategies · as stated in the DRHP
- Debottleneck and expand our production capacities for existing product portfolio.
- Increased focus on R&D to support complex chemistries, product innovation, import substitution, and forward and backward integration of existing products.
- Inorganic growth through strategic acquisitions, technology acquisition/licensing or joint ventures.
- Increase our geographic reach and global footprint and increase wallet share with existing customers
- Continue to focus on turnaround of our greenfield investment in Mahad Manufacturing Facility to increasing our profitability.
- Continue improving financial performance through focus on operational and functional efficiencies.
Risks · as stated in the DRHP
- The company's business is dependent on its manufacturing facilities and the company is subject to certain related risks. For instance, MPCB, in the past had directed it to shut-down the company's manufacturing facilities situated at Khopoli, Maharashtra and Mahad, Maharashtra. Unplanned slowdowns, unscheduled shutdowns or prolonged disruptions in its manufacturing operations or under - utilization of the company's manufacturing capacities could have an adverse effect on its business, results of operations, cash flows and financial condition.
- Some of the raw materials that the company uses, certain by products that are generated, as well as its finished products are hazardous, corrosive and flammable and requires expert handling and storage, as applicable. Any accidents may result in loss of life or property and disrupt the company operations which may have an adverse effect on its results of operation, cash flows and financial condition.
- There are outstanding litigations involving the Company, Promoters and Directors, and any adverse outcome in any of these proceedings may adversely affect its results of operations and financial condition.
- The company's net cash from operating activities has significantly moved in the past. Any significant fluctuation in its cash flow from operating activities or negative net cash flow from operating activities in the future could have an adverse impact on the company's growth prospects, financial condition and the trading price of the Equity Shares.
- The Deputy Director, Industrial Safety & Health, Raigad District has issued show cause notices against Gaurang Natwarlal Parikh (in his capacity as occupant of the Company), one of the Promoters of the Company alleging violation of provisions of the Factories Act, 1948. While its cannot assess any definitive financial or operational impact of this litigation, any adverse outcome in these proceedings could have a material adverse effect on the company's reputation which could in turn have a material adverse impact on its business.
- The report of the company's Statutory Auditors on the Audited Financial Statements for Fiscals 2026 and Audited Consolidated Financial Statements for Fiscal 2025 and 2024 contains emphasis of matter. Further, the report of its Statutory Auditors on the Audited Financial Statements for Fiscal 2026 and Audited Consolidated Financial Statements for Fiscal 2025 and 2024 is also modified to the extent of internal financial controls of the Company.