Prasol Chemicals IPO- Complete Overview
Prasol Chemicals IPO is a Mainboard IPO with an issue size of Rs. 500 Cr by Prasol Chemicals Limited, which works in the sector of specialized chemicals. Acetone-based, phosphorus-based, and other complex compounds are among the more than 150 specialized chemicals produced by the company.
Twenty-one acetone-based chemicals, fifty-three phosphorus-based chemicals, and seventy-six other specialized chemicals (such as surfactants, esters, and acids) make up its product line.
The products are used in five main industries: medicines, agrochemicals, paint, inks, construction, and adhesives (PICA), performance chemicals (such as mining additives and lubricants), and home and personal care.
Alembic Pharmaceuticals, Supriya Lifescience, Yasho Industries, Lubrizol India, Rossari Biotech, Clean Science, Gharda Chemicals, Croda India, and so on.
It has a robust worldwide distribution network spanning APAC, North and South America, and Europe, and the Indian government has certified it as a 3 Star Export House.
This new IPO is to be launched on 08 Sep 2026, and its ‘initial public offering’ will end on 10 Sep 2026.
Prasol Chemicals IPO Details
This Mainline IPO comprises a combination of a fresh issue of 11.83 lac shares (Rs. 80 Cr) and an offer for sale of 62.13 crore shares (Rs. 420 Cr).
The Prasol Chemicals IPO listing date (expected) might be Wednesday, Sep 16, 2026, and the listing on the BSE and NSE.
The Prasol Chemicals IPO price band is Rs. 643 to Rs. 676.
IPO Timetable (Tentative)
The Prasol Chemicals IPO date is from 08 Sep to 10 Sep, with IPO allotment on Sep 11, refund initiation on Sep 15, and listing on Sep 16, 2026.
|
Events |
Date |
|
IPO Opening Date |
Sep 08, 2026 |
|
IPO Closing Date |
Sep 10, 2026 |
|
IPO Allotment Date |
Sep 11, 2026 |
|
Refund Initiation |
Sep 15, 2026 |
|
IPO Listing Date |
Sep 16, 2026 |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview & Outlook
The Indian specialty chemicals market has demonstrated robust growth, expanding from Rs 2,240 billion in FY19 to Rs 5,563 billion in FY26, and is projected to reach Rs 7,541 billion by FY29, registering a CAGR of 10–12% over the next four years.
Prasol Chemicals Company Financial Performance
Prasol Chemicals- Profit & Loss
(Amount in Cr)
Prasol Chemicals- Balance Sheet
(Amount in Cr)
Cash Flows
The cash flows for various activities are shown below:
(Amount in Mn)
|
Net Cash Flow In Multiple Activities |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
494.70 |
222.60 |
1,156.06 |
|
Net Cash Flow Investing Activities |
(384.32) |
(224.75) |
(178.96) |
|
Net Cash Flow Financing Activities |
1.36 |
102.30 |
(1,151.14) |
Prasol Chemicals IPO- Business Model
The company manufactures and sells specialty chemicals (not commodity chemicals). These are high-value, customized products produced in smaller quantities with strong emphasis on quality, performance, and specific applications.
How the Company Earns Money
Revenue comes almost entirely from the sale of specialty chemicals to industrial customers.
|
Category |
Revenue Share |
|
Acetone-based specialty chemicals |
42.75% |
|
Phosphorus-based specialty chemicals |
38.30% |
|
Other specialty chemicals |
18.33% |
|
Other operating income |
0.62% |
Revenue Bifurcation
(Source RHP)
Company Growth Trajectory
The Objective of the Issue
-
Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company. ~ Rs. 60 Cr.
-
General Corporate Purposes.
Peers of Prasol Chemicals
|
Name of the Company |
Face Value (₹ per share) |
EPS Basic (₹) |
P/E (x) |
|
Aarti Industries Limited |
5 |
11.56 |
46.79 |
|
Atul Limited |
10 |
230.25 |
28.04 |
|
Laxmi Organic Industries Limited |
2 |
2.87 |
59.95 |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 14.33 from the last year, the resulting P/E ratio is 47.17x.
Prasol Chemicals IPO Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
20.37% |
|
ROCE |
22.43% |
|
Debt/Equity |
0.19 |
|
RoNW |
18.53% |
|
PAT Margin |
6.74% |
|
EBITDA Margin |
11.30% |
IPO's Strengths
-
A highly diverse range of products utilized in a variety of application industries
-
Strong product pipelines and well-established R&D skills propel innovation
-
Long-standing connections with a wide range of clients and a robust worldwide presence
-
Professional, Qualified, and Experienced Leadership Group.
IPO's Weaknesses
-
Only ₹60 crore of the ₹80 crore new issue will go toward debt reduction. The remaining ₹500 crore is an Offer for Sale (OFS), which means that instead of supporting operational expansion, ₹420 crore goes straight to departing shareholders.
-
Facility Underutilization: Overall asset efficiency is hampered by historical manufacturing operational constraints and underutilization across facilities.
-
Absence of Long-Term Supply Contracts: The business often sources raw materials and sells to customers without long-term agreements. Because of this, it is extremely vulnerable to sudden client departures or price shocks in the spot market.
Prasol Chemicals IPO GMP Today
Prasol Chemicals IPO GMP is Rs. 14 as of September 03, 2026, when this information was written. With the upper price band of Rs. 676, Prasol Chemicals IPO's estimated listing price is Rs. 690. The expected listing gain/loss per share is 2.07%.
IPO Other Details
|
IPO Opening & Closing Date |
08 Sep 2026 to 10 Sep 2026 |
|
Face Value |
Rs. 2 per Share |
|
Issue Price |
Rs. 643 to Rs. 676 |
|
Lot Size |
22 Shares |
|
Issue Size |
73,96,437 shares (Rs. 500 Cr) |
|
Offer for Sale |
62,13,006 shares (Rs. 420 Cr) |
|
Fresh Issue |
11,83,431 shares (Rs. 80 Cr) |
|
Listing At |
BSE, NSE |
|
Issue Type |
Book Built Issue IPO |
|
Registrar |
Kfin Technologies Ltd. |
IPO Grey Market Premium
The current IPO GMP is available at our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.
Prasol Chemicals IPO Lot Size
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (22 Shares) amounting to Rs. 14872 and 13 Lots (286 Shares) for Rs. 1,93,336, respectively, while for HNI investors, the minimum Lot is 14 (308 Shares) amounting to Rs. 2,08,208.
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
S-HNI (Minimum) |
14 Lots |
|
S-HNI (Maximum) |
67 Lots |
|
B-HNI (Minimum) |
68 Lots |
Prasol Chemicals IPO Reservation
|
Institutional Share Portion |
50% |
|
Retail Investors' Share Portion |
35% |
|
Non-Institutional Shares Portion |
15% |
Promoters and Management of Prasol Chemicals Ltd.
-
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.
|
Pre-Issue Promoter Shareholding |
89.2% |
|
Post-Issue Promoter Shareholding |
77.51% |
IPO Lead Managers
Dam Capital Advisors Ltd.
Dividend Policy
The company has paid a dividend of Rs. 1.20, Rs. 0.30, and Rs. 0.30, respectively, in FY26, FY25, and FY24.
Prasol Chemicals IPO Review: Subscribe or Avoid?
Prasol Chemicals has delivered steady growth in revenue and profitability over the last three years, supported by a diversified specialty chemicals portfolio and a healthy mix of domestic and export sales. The company maintains reasonable return ratios and a manageable debt level.
However, the IPO is heavily skewed towards Offer for Sale (₹420 Cr out of ₹500 Cr), with limited fresh capital available for growth. Margins remain moderate, and the business faces typical industry risks related to raw material prices and customer concentration.
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
Prasol Chemicals IPO News
Prasol Chemicals IPO Allotment Status
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Finowings IPO Analysis
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