Prasol Chemicals IPO Opens September 8, ₹500-Crore Issue Sets Price Band at ₹643-676
New Delhi: Specialty chemicals maker Prasol Chemicals Ltd is preparing to tap the primary market with its Rs 500-crore initial public offering next week. The Prasol Chemicals IPO will open for public subscription on September 8 and close on September 10. The company has fixed a price band of Rs 643-676 per equity share, according to its public announcement. Anchor investors will be able to submit…
Specialty chemicals firm Prasol Chemicals Ltd is set to launch an IPO with a Rs 500-crore issue on September 8. The company's share price will range between ₹643 and ₹676 per share, as announced by Prasol Chemicals. Interested investors can submit bids for the initial public offering starting September 7, a day before the listing begins for the general public.
The IPO comprises a fresh equity share issue of up to Rs 80 crore and an Offer for Sale (OFS) valued at up to Rs 420 crore by existing shareholders. Prasol Chemicals intends to utilize the funds raised from the fresh issue to repay debt, bolster working capital, and allocate resources towards general corporate purposes. At the higher end of the price band, the company's valuation is estimated to reach approximately Rs 6,001 crore.
Established in 1992 as Prachi Poly Products Private Ltd, Prasol Chemicals transitioned to Prasol Chemicals in 2007 before regaining public company status in 2022. The company specializes in acetone and phosphorus-based specialty chemicals and other differentiated chemistries, finding applications in pharmaceuticals, agrochemicals, and consumer goods such as sunscreens, shampoos, flavors, fragrances, and disinfectants. JM Financial and DAM Capital Advisors are serving as the lead managers for the IPO.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Prasol Chemicals fixes IPO price band at ₹643-676; ₹500-cr issue to open on Sep 8 thehindubusinessline.com
