IPO
Speciality chemicals player Prasol’s Rs.500-Cr IPO oversubscribed
Business Line Prasol Chemicals
The initial public offering (IPO) of Mumbai-based specialty chemicals manufacturer Prasol Chemicals was subscribed 2.56 times. The QIB portion was subscribed 5.58 times, while the NII and retail portions were booked 1.07 times and 1.47 times, respectively.The book-built issue, priced between INR 643 and INR 676 per share, consists of a fresh issue of shares worth INR 80 crore and an offer for sale (OFS) of shares worth INR 420 crore. DAM Capital Advisors acted as the book-running lead manager for the transaction.Founded in 1992, Prasol Chemicals operates manufacturing facilities in Khopoli and Mahad with a total annual capacity of 98,644 metric tonnes. Its portfolio includes over 150 products used across industries such as pharmaceuticals, agrochemicals, and performance chemicals.The company intends to use approximately INR 60 crore of the proceeds for the repayment or pre-payment of debt.
For FY25, Prasol had reported about INR 1,012 Cr in Operating Income and about INR 44 Cr in PAT.
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