Prasol Chemicals IPO Day 1: Subscribed 0.21x; Retail leads at 0.36x
- Prasol Chemicals IPO subscribed 0.21x on Day 1
- Retail investors led demand with a 0.36x subscription
- NII (bHNI) jumped 52.9% intraday to 0.26x
- Issue priced between ₹643 and ₹676 per share
- Subscription closes on September 10, 2026
*this image is generated using AI for illustrative purposes only.
Prasol Chemicals IPO subscription ticked up to 0.21x on Day 1, with Retail investors leading the demand at 0.36x. The issue is priced in the band of ₹643 to ₹676 per share.
Subscription Status
The issue is priced in the band of ₹643 to ₹676 per share. The subscription window runs from September 8 to September 10, 2026.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 08-09-2026 | 0.00x | 0.26x | 0.08x | 0.36x | 0.21x |
Category-wise Breakdown
Retail investors accounted for the highest multiple among all categories on the first day of subscription.
- Retail: 0.36x
- NII (bHNI): 0.26x
- NII (sHNI): 0.08x
- QIB: 0.00x
- Employees: 0.00x
Intra-day Timeline
Subscription data for Day 1 as of 12:15 PM IST:
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.17x | 0.25x | 0.14x |
| 12:15 | 0.00x | 0.26x | 0.36x | 0.21x |
Offer Details
- Price Band: ₹643 - ₹676
- Issue Size: ₹14,146 - ₹500,000
- Min Bid Qty: 22 shares
- Open Date: 2026-09-08
- Close Date: 2026-09-10
- Allotment Date: 2026-09-11
- Listing Date: 2026-09-16
About the Company
Prasol Chemicals Limited is a forward integrated manufacturer of acetone and phosphorous based specialty chemicals with over 33 years of experience. The company operates two manufacturing facilities in Maharashtra with an aggregate installed capacity of 98,644 metric tonnes per annum. It produces over 150 specialty chemical products across five key segments: performance chemicals, PICA (paints, inks, construction & adhesives), pharmaceuticals, agrochemicals, and home and personal care. Prasol serves over 1,600 customers globally and exports to 69 countries.
Financial Highlights
| Metric | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Revenue from Operations (₹ cr) | 1232.59 | 1012.49 | 876.57 |
| Profit Before Tax (₹ cr) | 111.90 | 59.29 | 33.51 |
| Total Profit (₹ cr) | 83.12 | 43.57 | 18.13 |
| Total Assets (₹ cr) | 839.28 | 723.09 | 626.36 |
Note: FY 2026 data is standalone; FY 2025 and FY 2024 data is consolidated.
Objects of the Issue
- Repayment and/or pre-payment of certain borrowings: ₹60.00 crore
- General corporate purposes
Risk Factors
- Manufacturing Facility Dependency: Dependence on two facilities in Maharashtra subject to past regulatory shutdowns by MPCB.
- Hazardous Materials: Handling of hazardous materials requiring expert handling; past incidents include fatalities from gas leakage.
- Litigation: Outstanding legal proceedings including statutory, criminal, and tax cases.
- Cash Flow Volatility: Significant fluctuations in net cash from operating activities over recent fiscals.
- Contingent Liabilities: Aggregate contingent liabilities constituted 24.33% of net worth as of March 31, 2026.
How might the complete lack of QIB interest on Day 1 impact the final allotment ratio and listing price stability for Prasol Chemicals?
Given the regulatory shutdown history and hazardous material risks, what specific mitigation strategies is Prasol implementing to reassure institutional investors for future funding rounds?
Will the company's plan to use ₹60 crore of IPO proceeds for debt repayment significantly improve its debt-to-equity ratio and credit rating post-listing?
17
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
