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Tue, 08 Sept 2026
01:55:03 pm
Tue, 08 Sept 2026
01:55:03 pm
Synopsis
Prasol Chemicals IPO draws investor attention as its opening-day demand and changing grey market premium offer fresh signals on how the specialty chemicals issue is being received.
Prasol Chemicals IPO is a ₹500 crore bookbuilding issue comprising a fresh issue of 11.83 lakh shares worth ₹80 crore and an offer for sale of 62.13 lakh shares worth ₹420 crore. The IPO opened on September 8, 2026, and will close on September 10, 2026.
The Prasol Chemicals IPO price band is ₹643 to ₹676 per share, with a lot size of 22 shares. The latest Prasol Chemicals IPO GMP is ₹50 as of September 8, 2026, indicating an estimated listing price of ₹726, or a 7.40% premium over the upper price band. GMP is unofficial and can change.
| IPO Metric | Details |
|---|---|
| IPO Date | September 8 to September 10, 2026 |
| Listing Date | September 16, 2026 |
| Price Band | ₹643 to ₹676 |
| Issue Price | ₹676 |
| Face Value | ₹2 |
| Lot Size | 22 Shares |
| Total Issue Size | ₹500 crore |
| Fresh Issue | ₹80 crore |
| OFS | ₹420 crore |
| Retail Minimum Investment | ₹14,872 |
| Listing | BSE, NSE |
| Market Cap at Upper Price | ₹4,000.80 crore |
The latest Prasol Chemicals IPO GMP today stands at ₹50 as of September 8, 2026, at 3:55 PM. Based on the upper issue price of ₹676, the estimated listing price is ₹726, implying a 7.40% premium.
The GMP has declined sharply from ₹165 on September 4 to ₹50 on September 8. Since GMP is based on unofficial grey-market activity, investors should not use it alone to make an IPO investment decision.
| GMP Date | IPO Price | GMP | Subscription | Est. Listing Price | Est. Profit | Last Updated |
|---|---|---|---|---|---|---|
| September 8, 2026 | ₹676 | ₹50 ▼ | 0.39x | ₹726 (7.40%) | ₹1,100 | 8-Sep-2026 15:55 |
| September 7, 2026 | ₹676 | ₹55 ▼ | - | ₹731 (8.14%) | ₹1,210 | 7-Sep-2026 23:31 |
| September 6, 2026 | ₹676 | ₹115 ▼ | - | ₹791 (17.01%) | ₹2,530 | 6-Sep-2026 23:32 |
| September 5, 2026 | ₹676 | ₹125 ▼ | - | ₹801 (18.49%) | ₹2,750 | 5-Sep-2026 23:28 |
| September 4, 2026 | ₹676 | ₹165 ▲ | - | ₹841 (24.41%) | ₹3,630 | 4-Sep-2026 23:32 |
| September 3, 2026 | ₹676 | ₹14 ─ | - | ₹690 (2.07%) | ₹308 | 3-Sep-2026 23:32 |
Estimated profit/loss per lot = GMP × 22 shares.
The Prasol Chemicals IPO subscription stood at 0.02 times on September 8, 2026, at 10:04:50 AM on Day 1. The retail portion was subscribed 0.03 times, while the NII portion was subscribed 0.02 times and the QIB portion was at 0.00 times.
| Category | Subscription (x) | Shares Offered | Shares Bid For |
|---|---|---|---|
| QIB (Ex Anchor) | 0.00 | 14,79,289 | 0 |
| NII | 0.02 | 11,09,466 | 16,896 |
| Retail | 0.03 | 25,88,753 | 74,646 |
| Total | 0.02 | 51,77,508 | 91,542 |
Total Applications: 471
Investors can apply for a minimum of 22 shares and in multiples thereof. At the upper price band of ₹676, the minimum retail investment is ₹14,872.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 22 | ₹14,872 |
| Retail (Max) | 13 | 286 | ₹1,93,336 |
| S-HNI (Min) | 14 | 308 | ₹2,08,208 |
| S-HNI (Max) | 67 | 1,474 | ₹9,96,424 |
| B-HNI (Min) | 68 | 1,496 | ₹10,11,296 |
Prasol Chemicals was incorporated in 1992 and operates in the specialty chemicals industry. The company manufactures more than 150 specialty chemicals, including acetone-based, phosphorous-based and other complex chemicals.
Its products serve performance chemicals, paints, inks, construction, adhesives, pharmaceuticals, agrochemicals, and home and personal care industries. The company operates manufacturing facilities at Khopoli and Mahad with an aggregate capacity of 98,644 MT per year.
Prasol Chemicals served around 1,600 customers as of July 31, 2026, and exports to 69 countries. Its customers include Alembic Pharmaceuticals, Lubrizol India, Rossari Biotech, Clean Science, Gharda Chemicals, Croda India, Supriya Lifescience and Yasho Industries.
Prasol Chemicals' total income increased from ₹1,015.54 crore in FY25 to ₹1,237.85 crore in FY26, while PAT increased from ₹43.57 crore to ₹83.12 crore.
| Financial Year | FY26 | FY25 | FY24 |
|---|---|---|---|
| Assets | 839.28 | 723.09 | 626.36 |
| Total Income | 1,237.85 | 1,015.54 | 887.56 |
| Profit After Tax | 83.12 | 43.57 | 18.13 |
| EBITDA | 139.32 | 87.77 | 60.53 |
| Net Worth | 448.51 | 367.46 | 325.84 |
| Reserves and Surplus | 436.91 | 355.87 | 314.24 |
| Total Borrowing | 110.06 | 101.05 | 82.07 |
Amount in ₹ crore.
Note: FY 2026 financials are on standalone basis. Operating EBITDA is given.
The company proposes to use the net proceeds from the fresh issue mainly towards repayment or pre-payment of certain borrowings and general corporate purposes.
| Issue Objects | Estimated Amount (₹ Cr.) |
|---|---|
| Repayment and/or pre-payment of certain borrowings | 60.00 |
| General Corporate Purposes | - |
| Total | 60.00 |
| KPI | March 31, 2026 |
|---|---|
| ROE | 20.37% |
| ROCE | 22.43% |
| Debt/Equity | 0.19 |
| RoNW | 18.53% |
| PAT Margin | 6.74% |
| EBITDA Margin | 11.30% |
| NAV | ₹77.33 |
At the upper price band, Prasol Chemicals has a market capitalisation of ₹4,000.80 crore. The pre-IPO EPS stands at ₹14.33.
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 14.33 | - |
| Market Cap at Offer Price | - | ₹4,000.80 Cr |
The promoter and promoter group holding is expected to reduce from 89.20% before the IPO to 77.51% after the issue, while public shareholding is expected to increase to 22.49%.
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 89.20% | 77.51% |
| Public | 10.80% | 22.49% |
| Total | 100% | 100% |
Company Promoters: 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 and Usha Rajnikant Shah.
The OFS includes shares being sold by promoter shareholders and other shareholders. The estimated value of the shares offered by the listed selling shareholders is ₹261.09 crore in the table below.
| Name | Category | Estimated Amount (₹ Cr.) |
|---|---|---|
| Usha Rajnikant Shah (held jointly with Nishith Rajnikant Shah & Shah Sandhya Nishith) | Promoter | 120.00 |
| Tushar Natverlal Dharia (HUF) | Promoter | 51.52 |
| Gaurang Natwarlal Parikh (HUF) | Promoter | 18.54 |
| Bhisham Kumar Gupta (held jointly with Raksha Bhisham Gupta) | Promoter | 39.03 |
| Nishith Rasiklal Dharia (held jointly with Sonal Nishith Dharia) | Promoter | 32.00 |
Estimated amount shown until the actual number of shares offered in OFS is entered.
The Prasol Chemicals IPO opened on September 8 and will close on September 10, 2026. Allotment is expected on September 11, while the tentative listing date is September 16, 2026.
| Event | Date |
|---|---|
| IPO Open | September 8, 2026 |
| IPO Close | September 10, 2026 |
| Allotment | September 11, 2026 |
| Refund | September 15, 2026 |
| Credit of Shares | September 15, 2026 |
| Listing | September 16, 2026 |
Kfin Technologies Ltd. is the registrar for the issue, while Dam Capital Advisors Ltd. is the book running lead manager.
Prasol Chemicals IPO is a main-board IPO of 73,96,437 equity shares with a face value of ₹2 each, aggregating up to ₹500 crore. The price band is ₹643 to ₹676 per share.
The latest Prasol Chemicals IPO GMP is ₹50 as of September 8, 2026, at 3:55 PM. Based on the upper price band, the estimated listing price is ₹726.
The Prasol Chemicals IPO price band is ₹643 to ₹676 per share.
The Prasol Chemicals IPO lot size is 22 shares. The minimum retail investment is ₹14,872 at the upper price band.
The Prasol Chemicals IPO opened on September 8, 2026, and will close on September 10, 2026.
The Prasol Chemicals IPO allotment is expected to be finalized on September 11, 2026.
Prasol Chemicals shares are tentatively scheduled to list on BSE and NSE on September 16, 2026.
Kfin Technologies Ltd. is the registrar of the Prasol Chemicals IPO.
Dam Capital Advisors Ltd. is the book running lead manager of the Prasol Chemicals IPO.
Disclaimer: IPO GMP is based on unofficial grey-market activity and is indicative only. It does not guarantee the actual listing price or returns. Investors should conduct their own research and consider the risks before investing.
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