Subscription & GMP
Subscription is live from NSE + BSE bid data. GMP is an unofficial market indicator.
Snapshot & Timeline
Verified against RHP, cross-checked on NSE & BSE.
| Issue Structure | |
|---|---|
| Type | Mainboard · Book Built |
| Face Value | ₹2 |
| Fresh Issue | ₹80 Cr |
| Offer for Sale | ₹420 Cr |
| Market Cap | ≈ ₹4,000.80 Cr |
| Reservation & Parties | |
|---|---|
| QIB (incl. anchor) | 50% |
| NII / HNI | 15% |
| Retail | 35% |
| Lead Managers | DAM Capital Advisors |
| Registrar | KFin Technologies |
FY24–FY26 Trend (₹ Cr)
Restated consolidated figures from the RHP.
| Metric | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Total Income | 887.56 | 1,015.54 | 1,237.85 | +22% |
| EBITDA | 60.53 | 87.77 | 139.32 | +59% |
| PAT | 18.13 | 43.57 | 83.12 | +91% |
| PAT Margin | 2.0% | 4.3% | 6.7% | — |
Is the price fair?
From the RHP "Basis for Issue Price". Price (P/E) beside quality (ROE).
| Company | P/E | ROE | Net Margin |
|---|---|---|---|
| Prasol Chemicals | 48x | 20.37% | 6.7% |
| Sudeep Pharma | 47.6x | — | — |
| Biopol Chemicals | 19.7x | — | — |
Who runs it & where the money goes
| Promoters | |
|---|---|
| Promoters | Nishith Shah, Gaurang Parikh, Dhaval Parikh & the Parikh/Dharia/Shah promoter group |
| Pre-issue | 89.2% |
| Post-issue | 77.51% |
| Objects of Issue | |
|---|---|
| Repayment / pre-payment of borrowings | ₹60.00 Cr |
| General corporate purposes | Balance |
Strengths & Risks
The part most sites skip — both sides, from the RHP.
- Fast profit growth — PAT nearly doubled in FY26 (₹18 → ₹83 Cr over two years); EBITDA +59%.
- Decent returns and manageable debt — ROE ~20%, debt/equity ~0.19.
- Diversified specialty-chem platform — 150+ products, ~1,600 customers, exports to ~69 countries; two Maharashtra plants.
- Margin expansion — EBITDA and PAT margins have widened as the product mix improves.
- Broad end-markets — paints, pharma, agrochemicals and personal care.
- Rich valuation — ~48x post-issue P/E for a business with thin ~7% net margins.
- Collapsed grey market — GMP fell from a ~₹120 high to just ~₹4 (~1%), pointing to a flat listing.
- Heavy offer-for-sale — ~84% of the ₹500 Cr issue (₹420 Cr) is existing shareholders selling; the ₹80 Cr fresh mainly repays debt, not growth.
- Specialty-chemicals cyclicality — product pricing, input costs and export demand can swing earnings.
- Modest demand — the book closed only ~3.5x overall (QIB ~7.6x arrived at the close); covered but not strong, and thin margins leave little cushion at this valuation.
Did the signal hold up? Updates after Sep 16
We close the loop — issue vs listing price, listing-day gain, and whether the call was right.
Prasol Chemicals IPO FAQs
Common questions about the Prasol Chemicals IPO — GMP, price, dates, allotment and more.
What is Prasol Chemicals IPO GMP today?
As of the latest update (Subscription: Sep 10, 5:15 PM IST (Day 3 close — final, IPOJI) · GMP: Sep 10, 4:45 PM IST (₹4 IPOJI, ~1%, collapsed from a ~₹120 high on Sep 7)), the grey market premium (GMP) for Prasol Chemicals IPO is around ₹4, implying an estimated listing price of about ≈ ₹680. GMP is unofficial & indicative
What is Prasol Chemicals IPO price band?
The price band is ₹643 – ₹676 per share (face value ₹2).
What is Prasol Chemicals IPO lot size?
The lot size is 22 · min ₹14,872 per application.
When is Prasol Chemicals IPO allotment?
The tentative basis-of-allotment date is Sep 11.
When will Prasol Chemicals IPO be listed?
The tentative listing date is Sep 16, 2026 on BSE · NSE.
What is the expected listing price of Prasol Chemicals IPO?
Based on the current grey market premium of ₹4, the estimated listing price is around ≈ ₹680 — this is unofficial and not a guarantee of the actual listing price.
Should I apply for Prasol Chemicals IPO?
Our view: Neutral · May Apply
In simple terms, Prasol Chemicals makes a wide range of industrial 'specialty' chemicals used in paints, medicines, farm chemicals and personal care, and its profit has grown fast — nearly doubling last year — with decent returns and manageable debt. On demand, the issue did get covered by the close — about 3.5 times overall, with the big institutions coming in at about 7.6 times on the final day — but it was a modest book, not a stampede. The catches remain: the shares are priced richly (about 48 times earnings) on thin margins; most of this issue (~84%) is existing owners selling, with the small fresh portion mainly repaying loans; and the grey market has collapsed from a ₹120 high to just about ₹4 (~1%), pointing to a flat-to-muted listing. The business is fine, but the rich price, big sell-down and evaporated grey market mean listing-pop expectations should be low — judge it on the Sep 16 debut. This is IPOSignal's research view, not investment advice.
What is Prasol Chemicals IPO subscription status?
As of Final · Sep 10, 5:15 PM (Day 3 close), the issue was subscribed 3.5× overall — QIB 7.6×, NII / HNI 1.9×, Retail 1.8×.
Who is the registrar of Prasol Chemicals IPO?
The registrar is KFin Technologies; the lead manager(s): DAM Capital Advisors.