Prasol Chemicals fixes IPO price band at ₹643-676; ₹500-cr issue to open on Sep 8

Prasol Chemicals Ltd, a specialty chemicals manufacturer, is set to launch its Rs 500-crore Initial Public Offering (IPO) on September 8. The company has fixed the price band at Rs 643-676 per equity share for the public offering, with the IPO closing on September 10. The IPO comprises a fresh issue of equity shares worth up to Rs 80 crore and an Offer For Sale (OFS) of shares worth up to Rs 420 crore by selling shareholders.

Proceeds from the fresh issue will be used for debt repayment, working capital requirements, and general corporate purposes. At the upper end of the price band, Prasol Chemicals is valued at around Rs 6,001 crore. The company, originally incorporated as Prachi Poly Products Private Ltd in 1992, has been a forward-integrated manufacturer of acetone and phosphorus-based specialty chemicals since 2022.

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