Specialty chemicals maker Prasol Chemicals Ltd fixes its initial public offering (IPO) price band at ₹643-676 per share for a total ₹500 crore public issue. The IPO opens for public subscription on September 8 and closes on September 10, with anchor investor bidding scheduled for September 7.
The issue includes a fresh equity share offering worth up to ₹80 crore and an Offer for Sale (OFS) of shares worth up to ₹420 crore by existing shareholders. According to company disclosures cited by outlets, proceeds from the fresh issue are intended for repayment of debt and working capital requirements, with part allocated for general corporate purposes. At the upper end of the price band, the offering implies a valuation of about ₹6,001 crore. Outlets also note the company’s background, including its founding in 1992 as Prachi Poly Products Private Ltd, rename to Prasol Chemicals in 2007, and return to public markets in 2022, with chemicals used across pharmaceuticals, agrochemicals and consumer products.
Different reports focus on the timeline and structure of the offer, while other details—such as use of proceeds and indicative valuation—are presented alongside the primary subscription schedule. Lead managers mentioned include JM Financial and DAM Capital Advisors.
