Prasol Chemicals IPO closed on Day 3 with a total subscription of 1.26 times. Qualified Institutional Buyers (QIB) drove the strongest demand at 1.48x, while Retail investors subscribed 1.32x. The issue opened on September 8, 2026, and closed on September 10, 2026.

Subscription Status

The IPO saw steady accumulation of bids over the three-day window. Demand accelerated significantly on the final day, pushing the overall subscription above the break-even mark. NII (bHNI) and Retail categories showed notable intraday momentum in the final hours.

Category-wise Breakdown

Qualified Institutional Buyers (QIB) emerged as the leading category, subscribing 1.48 times. Non-Institutional Investors (NII) in the big HNI (bHNI) segment also showed strong interest at 1.50x. Retail participation stood at 1.32x, while the small HNI (sHNI) segment subscribed 0.50x. Employee quota remained unsubscribed at 0x.

Intra-day Timeline

Subscription figures were updated on the final day, reflecting the closing totals across categories. NII (bHNI) jumped +5.6% today (from 1.42x to 1.50x), while Retail jumped +4.8% today (from 1.26x to 1.32x).

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

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

Revenue from operations grew from ₹876.57 million in Fiscal 2024 to ₹1,232.59 million in Fiscal 2026. Profit before tax increased from ₹33.51 million in Fiscal 2024 to ₹111.90 million in Fiscal 2026.

Objects of the Issue

• Repayment and/or pre-payment of certain borrowings: ₹60.00 crore
• General corporate purposes

Risk Factors

• Manufacturing Facility Dependency: The company relies on two facilities in Maharashtra, which have faced regulatory shutdowns by MPCB in the past.
• Hazardous Materials: Handling of hazardous raw materials poses safety risks, with past incidents including gas leakage and chemical exposure.
• Litigation: The company faces various legal proceedings, including statutory, criminal, and tax proceedings.
• Cash Flow Volatility: Net cash from operating activities has fluctuated significantly between fiscal years.
• Contingent Liabilities: Aggregate contingent liabilities were ₹1,091.22 million as of March 31, 2026.

Prasol Chemicals IPO closed on Day 3 with a total subscription of 1.26 times. Qualified Institutional Buyers (QIB) drove the strongest demand at 1.48x, while Retail investors subscribed 1.32x. The issue opened on September 8, 2026, and closed on September 10, 2026.

Subscription Status

The IPO saw steady accumulation of bids over the three-day window. Demand accelerated significantly on the final day, pushing the overall subscription above the break-even mark. NII (bHNI) and Retail categories showed notable intraday momentum in the final hours.

Category-wise Breakdown

Qualified Institutional Buyers (QIB) emerged as the leading category, subscribing 1.48 times. Non-Institutional Investors (NII) in the big HNI (bHNI) segment also showed strong interest at 1.50x. Retail participation stood at 1.32x, while the small HNI (sHNI) segment subscribed 0.50x. Employee quota remained unsubscribed at 0x.

Intra-day Timeline

Demand picked up pace during the trading hours of Day 2. The total subscription increased from 0.52x at 11:15 AM to 0.72x by 5:15 PM.

Momentum highlights for the day showed NII (bHNI) jumping +50.6% (from 0.81x to 1.22x) and Retail jumping +30.2% (from 0.86x to 1.12x). The total subscription jumped +38.5% (from 0.52x to 0.72x).

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

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

Revenue from operations grew from ₹876.57 million in Fiscal 2024 to ₹1,232.59 million in Fiscal 2026. Profit before tax increased from ₹33.51 million in Fiscal 2024 to ₹111.90 million in Fiscal 2026.

Objects of the Issue

• Repayment and/or pre-payment of certain borrowings: ₹60.00 crore
• General corporate purposes

Risk Factors

• Manufacturing Facility Dependency: The company relies on two facilities in Maharashtra, which have faced regulatory shutdowns by MPCB in the past.
• Hazardous Materials: Handling of hazardous raw materials poses safety risks, with past incidents including gas leakage and chemical exposure.
• Litigation: The company faces various legal proceedings, including statutory, criminal, and tax proceedings.
• Cash Flow Volatility: Net cash from operating activities has fluctuated significantly between fiscal years.
• Contingent Liabilities: Aggregate contingent liabilities were ₹1,091.22 million as of March 31, 2026.