Prasol Chemicals Ltd. IPO
Price Band
₹643 – ₹676
Issue Size
₹500 Cr
Issue Dates
8 Sept – 10 Sept 2026
Listing Date
16 Sept 2026
About Prasol Chemicals Ltd.
Incorporated in 1992, Prasol Chemicals operates in the specialty chemicals industry. The company manufactures over 150 specialty chemicals, including acetone-based, phosphorous-based, and other complex chemicals. Its product portfolio includes 21 acetone-based chemicals, 53 phosphorous-based chemicals, and 76 other specialty chemicals (e.g. surfactants, esters, acids). The products serve 5 major industries, including Performance chemicals (like lubricant and mining additives), paint, inks, construction, and adhesives (PICA), pharmaceuticals, agrochemicals, and home and personal care. The company operates two manufacturing facilities in Khopoli (across 1,20,604 sq. m.) and Mahad (across 1,19,423 sq. m.) with an aggregate capacity of 98,644 MT per year. Key customers include Alembic Pharmaceuticals, Lubrizol India, Rossari Biotech, Clean Science, Gharda Chemicals, Croda India, Supriya Lifescience and Yasho Industries, among others. As of July 31, 2026, the company served 1,600 customers and exports to 69 countries. It is certified as a 3 Star Export House by the Indian government and has a strong global distribution network across APAC, North and South America, and Europe.
IPO Details
| Price Band | ₹643 – ₹676 |
| Face Value | ₹2 |
| Issue Size | ₹500 Cr |
| Fresh Issue | ₹80 Cr |
| Offer for Sale | ₹420 Cr |
| Total Shares Offered | 73,96,437 |
| Listed On | Both |
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards the following objects: (1) Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company - Rs. 60.00 Cr; (2) General Corporate Purposes (amount not disclosed). Total of specified objects: Rs. 60.00 Cr. The Offer for Sale of 62,13,006 equity shares of Rs. 2 each (aggregating Rs. 420.00 Cr) comprises shares sold by Promoter selling shareholders including Usha Rajnikant Shah (held jointly with Nishith Rajnikant Shah & Shah Sandhya Nishith, est. Rs. 120.00 Cr), Tushar Natverlal Dharia (HUF, est. Rs. 51.52 Cr), Gaurang Natwarlal Parikh (HUF, est. Rs. 18.54 Cr), Bhisham Kumar Gupta (held jointly with Raksha Bhisham Gupta, est. Rs. 39.03 Cr), Nishith Rasiklal Dharia (held jointly with Sonal Nishith Dharia, est. Rs. 32.00 Cr) and other selling shareholders, with amounts estimated until the actual number of shares offered in the OFS is finalized.
Key Financial Metrics
EPS (Basic)
₹14.33
ROE
20.37%
ROCE
22.43%
Debt / Equity
0.19
Financial Performance
| Particulars (₹ Cr) | FY2024 | FY2025 | FY2026 (Standalone) |
|---|---|---|---|
| Revenue | — | — | — |
| EBITDA | 60.53 | 87.77 | 139.32 |
| PAT | 18.13 | 43.57 | 83.12 |
| Total Assets | 626.36 | 723.09 | 839.28 |
| Net Worth | 325.84 | 367.46 | 448.51 |
| Total Borrowings | 82.07 | 101.05 | 110.06 |
Valuation
Market Capitalisation
P/E Ratio
Promoter Holding
Public Holding
Lot Size & Allocation
Investment by Category
| Category | Lot Size | Min Investment | Max Investment |
|---|---|---|---|
| retail_min | 22 shares | ₹14,872 | — |
| retail_max | 22 shares | — | ₹1,93,336 |
| shni_min | 14 × 22 | ₹2,08,208 | — |
| shni_max | 22 shares | — | ₹9,96,424 |
| bhni_min | 68 × 22 | ₹10,11,296 | — |
Reservation / Allocation
| Category | Allocation | Cut-off |
|---|---|---|
| QIB Shares Offered | 50% | No |
| Retail Shares Offered | 35% | Yes |
| NII (HNI) Shares Offered | 15% | No |
Peer Comparison
| Company | Listed | Mkt Cap (₹ Cr) | EPS (₹) | P/E | ROE % |
|---|---|---|---|---|---|
| Prasol Chemicals Ltd. IPO (this IPO) | — | 4,000.8 | ₹14.33 | — | 20.37% |
| Sudeep Pharma Ltd. | Yes | — | — | 47.61x | — |
| Devson Catalyst Ltd. | Yes | — | — | 9.66x | — |
| Vahh Chemicals Ltd. | Yes | — | — | 7.15x | — |
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