Prasol Chemicals IPO: The initial public offering (IPO) of Prasol Chemicals has opened for bidding on Tuesday, September 8. The offer is available till September 10. Analysts have assigned a mixed rating to the offer based on the company’s client base across performance chemicals, PICA, pharmaceuticals, agrochemicals, and personal care application industries.
The company’s grey market premium (GMP) is currently signalling a marginal listing pop of 8.1 per cent at ₹731. Ventura Ventura gave a ‘Subscribe’ rating to the IPO, noting that the company’s operating profile is anchored by a product portfolio of over 150 specialty chemicals.
Prasol is India's largest importer of acetone (CY22–CY25) and is the only domestic manufacturer of isophorone, supported by consignment stock points in Rotterdam and Houston. The brokerage added that the company’s process capabilities are driven by Distributed Controlled Systems automation and a dedicated 37-member R&D team.
“Financial performance reflects growth, with revenue from operations rising to ₹1,232.59 cr in Fiscal 2026 (standalone) from ₹1,012.49 cr in Fiscal 2025,” the brokerage firm said. Swastika Swastika gave a ‘Neutral’ rating to the IPO, noting that FY26 RoNW stood at 18.5 per cent, ahead of most peers.
At 45–47 times the price-to-equity ratio. The brokerage however, alo highlighted that the company is a niche specialty chemicals player with over 150 products, over 1,600 customers and exports to 69 countries. Revenue and PAT grew strongly from FY24–26, with EBITDA margin improving to 11.7%.
“Given the rich valuation, investors can consider the stock after listing, once financial performance stabilises and the valuation becomes more reasonable,” Swastika said. Parsol Chemicals IPO details Prasol Chemicals Ltd.’s IPO has a price band of ₹643–676 per share and a total issue size of ₹500 crore, comprising a fresh issue of ₹80 crore and an offer for sale (OFS) of ₹420 crore.
The lot size is 22 shares. The company functions in specialty chemicals industry and is a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries.
The company will use ₹60 crore from the Fresh Issue towards the full or partial repayment and/or pre-payment of certain outstanding term loans availed by the Company from HDFC Bank Limited and Kotak Mahindra Bank Limited. Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd.
is the registrar of the issue.