The Prasol Chemicals IPO has opened for subscription today, September 8, 2026, giving investors a three-day window to bid until September 10. In the grey market, the IPO is commanding a modest 8% premium, hinting at limited listing gains for now.
The IPO is a Rs 500 crore book-built issue, comprising a fresh issue of 11.83 lakh shares worth Rs 80 crore and an offer for sale (OFS) of 62.13 lakh shares worth Rs 420 crore. The price band has been fixed at Rs 643-Rs 676 per share, with a lot size of 22 shares. At the upper price band, retail investors will need a minimum investment of Rs 14,872.
The IPO will close on September 10, with allotment expected to be finalised on September 11. Shares are proposed to list on both the NSE and BSE, with the tentative listing date set for September 16, 2026.
DAM Capital Advisors Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.
Prasol Chemicals IPO GMP today
Prasol Chemicals IPO is currently commanding a GMP of Rs 55 per share, or around 8%, over its upper price band of Rs 676. Based on the prevailing GMP, the estimated listing price is around Rs 731 per share.
GMP Note: The Grey Market Premium (GMP) is an unofficial market indicator and is not regulated or guaranteed. Actual listing gains may differ significantly from the estimated price based on market conditions and investor sentiment.
The company plans to use the IPO proceeds primarily to repay/pre-pay certain borrowings, either fully or partially, amounting to approximately Rs 60 crore. Any remaining proceeds will be utilised for general corporate purposes, with the total issue proceeds estimated at Rs 60 crore.
Prasol Chemicals Ltd. reported a 22% increase in total income, rising from Rs 1,015.54 crore in FY25 to Rs 1,237.85 crore in FY26. Profit after tax (PAT) grew strongly by 91%, from Rs 43.57 crore in FY25 to Rs 83.12 crore in FY26, reflecting a significant improvement in profitability.
About Prasol Chemicals Ltd.
Prasol Chemicals Ltd., incorporated in 1992, is a speciality chemicals manufacturer with a portfolio of 150+ products, including acetone-based, phosphorus-based, and other speciality chemicals. Its products cater to key industries such as performance chemicals, paints & inks, construction & adhesives, pharmaceuticals, agrochemicals, and home & personal care.
The company operates manufacturing facilities at Khopoli and Mahad, with a combined annual capacity of 98,644 MT. As of July 31, 2026, Prasol served 1,600 customers and exported to 69 countries. Its key customers include Alembic Pharmaceuticals, Lubrizol India, Rossari Biotech, Clean Science, Gharda Chemicals, Croda India, Supriya Lifescience, and Yasho Industries.
Prasol is a 3-Star Export House recognised by the Government of India and has a strong global distribution network across APAC, North and South America, and Europe.
Should you subscribe?
According to an Anand Rathi research report, Prasol Chemicals is seeking a valuation of around 48x FY26 earnings, with a post-issue market capitalisation of approximately Rs 40,008 million. This suggests that the IPO is fully priced at the current valuation.
The company’s operations are dependent on manufacturing facilities, where unplanned shutdowns can disrupt production and overall business activities. However, its strong product portfolio, R&D-driven innovation, and diversified global customer base provide a solid foundation for long-term growth in the speciality chemicals sector.
Given these factors, Anand Rathi has assigned a “Subscribe for Long Term” rating to the issue.
