The ₹500 crore IPO of specialty chemicals manufacturer Prasol Chemicals has finalised its share allotment, with investors now able to check their status through multiple platforms. According to ET Now, the IPO received bids for 1,79,62,648 shares as against 54,43,229 shares on offer, recording 3.30 times overall subscription. The subscription window opened on September 8, 2026 and closed on September 10, 2026, with the company's shares scheduled to be listed on both BSE and NSE on September 16, 2026. Investors can check their allotment status through KFin Technologies, NSE or BSE platforms using their application number and PAN details. The issue was priced in the ₹643-676 per share price band, with the company having a valuation of around ₹6,001 crore at the upper end of the price band.
Ahead of its IPO, Prasol Chemicals had mobilised nearly ₹150 crore from anchor investors, demonstrating strong institutional confidence in the specialty chemicals manufacturer. The anchor investor group included 14 anchor investors who were allotted 22.18 lakh equity shares at ₹676 per share, with the total value of the allocation standing at ₹149.99 crore. The IPO comprises a book-built issue comprising a fresh issue of 11.83 lakh shares aggregating to ₹80 crore and an offer for sale of 62.13 lakh shares worth ₹420 crore. JM Financial and DAM Capital Advisors have been appointed as the book-running lead managers for the issue, while KFin Technologies Ltd. acts as the registrar.
The ₹500 crore IPO recorded 3.30 times subscription overall, with the retail investor portion receiving 1.70 times subscription, while Non-Institutional Investors (NIIs) subscribed 1.80 times and Qualified Institutional Buyers (QIBs) placed bids for 7.22 times the shares on offer. As per ET Now, the issue was priced in the ₹643-676 per share price band, with the retail investor portion receiving 1.79 crore shares against the 54.43 lakh shares offered. The proceeds from the fresh issue will be utilised towards debt repayment, meeting working capital requirements and general corporate purposes. In the grey market, Prasol Chemicals shares currently have no grey market premium (GMP), indicating expectations of a potentially flat listing. However, GMP is an unofficial indicator and can change before the shares debut.
The Prasol Chemicals IPO's GMP currently indicates a discounted listing, with the estimated listing price at the prevailing GMP standing at ₹661 against the cap price of ₹676 per share. As per ET Now, GMP figures are unofficial and reflect activity in the unregulated grey market, which may fluctuate before the stock's listing and should not be considered a guarantee of the actual listing price or returns. The grey market premium serves as an unofficial indicator of investor sentiment and can change significantly before the shares debut on the stock exchanges.
Company executives revealed significant growth potential, with Chairman Nishith Shah stating that Prasol Chemicals sees revenue potential of around ₹3,000-3,200 crore over the long term as it expands capacity and improves utilisation. The company operates manufacturing facilities at Khopoli and Mahad with a combined annual capacity of 98,644 MT and serves 1,600 customers across 69 countries as of July 31, 2026. 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 maintains a strong global distribution network across APAC, North and South America, and Europe.
The company demonstrated strong financial performance in FY26, with consolidated net profit of ₹83.12 crore and sales of ₹1,232.59 crore for the twelve months ended March 31, 2026. EBITDA also increased to ₹139.32 crore in FY26, compared with ₹87.77 crore in FY25, indicating enhanced profitability margins. The company's diversified portfolio spans 21 acetone-based chemicals, 53 phosphorus-based chemicals and 76 other speciality chemicals, serving customers in agrochemicals, pharmaceuticals, home and personal care, mining and lubricant industries. According to SBI Securities, the company has achieved a compound annual growth rate (CAGR) of 18.6% in revenue, 51.7% in EBITDA, and 97.8% in adjusted profit after tax (PAT) across the FY24-FY26 period.
