Prasol Chemicals IPO Lists at 9.76% Discount on NSE

Prasol Chemicals shares made a weak stock market debut on September 16, 2026, listing at ₹610.00 per share on the NSE, a 9.76% discount to the IPO issue price of ₹676 per share. On the BSE, the stock debuted at ₹611.00 per share, representing a 9.62% discount to the issue price.

The listing followed the company’s ₹500.00 crore IPO, which was open for subscription from September 8 to September 10, 2026. The issue received an overall subscription of 3.47 times by the end of the bidding period.

Prasol Chemicals’ IPO comprised a fresh issue of 11.83 lakh shares aggregating to ₹80.00 crore and an offer for sale of 62.13 lakh shares aggregating to ₹420.00 crore.

Incorporated in 1992, Prasol Chemicals Limited operates in the specialty chemicals industry and manufactures over 150 specialty chemicals. Its portfolio includes acetone-based, phosphorous-based and other specialty chemicals catering to a range of end-use industries.

Prasol Chemicals IPO Listing Details

Prasol Chemicals launched its ₹500.00 crore book-built IPO, comprising a fresh issue of 11.83 lakh shares aggregating to ₹80.00 crore and an offer for sale of 62.13 lakh shares aggregating to ₹420.00 crore. The bidding window opened on September 8 and closed on September 10, 2026.

The final issue price was fixed at ₹676 per equity share. The minimum lot size was 22 shares, requiring a minimum retail investment of ₹14,872.

The IPO received an overall subscription of 3.47 times by the end of the bidding period.

Prasol Chemicals subsequently made its stock market debut at ₹610.00 per share on the NSE against the issue price of ₹676, resulting in a listing discount of 9.76%. On the BSE, shares opened at ₹611.00, representing a discount of 9.62%.

• Issue Price: ₹676 per share
• NSE Listing Price: ₹610.00 per share
• NSE Listing Discount: 9.76%
• BSE Listing Price: ₹611.00 per share
• BSE Listing Discount: 9.62%
• IPO Size: ₹500.00 crore
• Fresh Issue: ₹80.00 crore
• Offer for Sale: ₹420.00 crore
• Minimum Lot Size: 22 shares
• Minimum Retail Investment: ₹14,872
• IPO Open Date: September 8, 2026
• IPO Close Date: September 10, 2026
• Allotment Date: September 11, 2026
• Listing Date: September 16, 2026
• Exchanges: BSE and NSE

First-Day Trading Performance

Listing Price: Prasol Chemicals share price debuted at ₹610.00 per share on the NSE against the IPO issue price of ₹676, resulting in a 9.76% listing discount.

On the BSE, Prasol Chemicals shares opened at ₹611.00 per share, representing a 9.62% discount to the IPO issue price.

As of September 16, 2026, at 10:03 AM, Prasol Chemicals shares were trading at ₹625.00 on the NSE, down 7.54% from the IPO issue price of ₹676.

The discounted debut followed the company’s ₹500.00 crore IPO, which received an overall subscription of 3.47 times.

The stock recovered partially from its NSE listing price of ₹610 to ₹625 by 10:03 AM but continued to trade below its IPO issue price.

Growth Drivers and Challenges

Growth Drivers

Diversified Product Portfolio: The company manufactures over 150 specialty chemicals across acetone-based, phosphorous-based and other specialty chemical categories.

Established Operations: Prasol Chemicals has operated in the specialty chemicals industry since 1992.

Global Customer Base: The company serves around 1,600 customers across 69 countries and is certified as a 3 Star Export House.

Manufacturing Capacity: The company operates manufacturing facilities in Khopoli and Mahad with an aggregate capacity of 98,644 MT per year.

Financial Growth: Total income increased to ₹1,237.85 crore in FY26 from ₹1,015.54 crore in FY25, while profit after tax rose to ₹83.12 crore from ₹43.57 crore.

Challenges

Industry Cyclicality: Demand for specialty chemicals can be influenced by changes in industrial activity and end-user demand.

Raw Material Exposure: Changes in the availability and prices of chemical raw materials may affect operating costs and margins.

Export Exposure: Operations across international markets may expose the company to foreign exchange and global demand fluctuations.

Regulatory Requirements: Chemical manufacturing operations are subject to environmental, safety and other regulatory requirements.

Borrowings: Total borrowings increased to ₹110.06 crore as of March 31, 2026.

Utilisation of IPO Proceeds

Prasol Chemicals’ ₹500.00 crore IPO comprised a fresh issue of ₹80.00 crore and an offer for sale of ₹420.00 crore.

The company intends to utilise a portion of the net proceeds from the fresh issue towards repayment and/or prepayment, in full or in part, of certain borrowings availed by the company.

The remaining net proceeds are intended to support general corporate purposes.

The public issue comprised:

• Fresh issue of 11.83 lakh shares aggregating to ₹80.00 crore
• Offer for sale of 62.13 lakh shares aggregating to ₹420.00 crore
• Total IPO size of ₹500.00 crore

DAM Capital Advisors Limited managed the issue, while Kfin Technologies Limited acted as the registrar.

Business and IPO Overview

Incorporated in 1992, Prasol Chemicals Limited operates in the specialty chemicals industry and manufactures more than 150 specialty chemicals.

Its portfolio includes 21 acetone-based chemicals, 53 phosphorous-based chemicals and 76 other specialty chemicals. These products cater to industries and applications including performance chemicals, paints, inks, construction, adhesives, pharmaceuticals, agrochemicals and home care.

Prasol Chemicals operates two manufacturing facilities in Khopoli and Mahad with an aggregate production capacity of 98,644 MT per year.

The company is certified as a 3 Star Export House and serves around 1,600 customers across 69 countries.

Prasol Chemicals recorded total income of ₹1,237.85 crore in FY26, compared with ₹1,015.54 crore in FY25, representing growth of around 22%.

Profit after tax increased to ₹83.12 crore in FY26 from ₹43.57 crore in FY25, representing growth of around 91%. EBITDA stood at ₹139.32 crore in FY26.

As of March 31, 2026, the company reported total assets of ₹839.28 crore, compared with ₹723.09 crore a year earlier. Net worth stood at ₹448.51 crore, while total borrowings were ₹110.06 crore.

Prasol Chemicals entered the public markets through a ₹500.00 crore IPO comprising a fresh issue of ₹80.00 crore and an offer for sale of ₹420.00 crore. The issue opened on September 8 and closed on September 10, 2026, with the final issue price fixed at ₹676 per share.

The IPO received an overall subscription of 3.47 times by the end of the bidding period.

Prasol Chemicals made a discounted stock market debut on September 16, 2026. Shares listed at ₹610.00 on the NSE, a 9.76% discount to the ₹676 issue price, while the BSE listing price of ₹611.00 represented a discount of 9.62%.

As of 10:03 AM on listing day, Prasol Chemicals shares were trading at ₹625.00 on the NSE, down 7.54% from the IPO issue price but above the NSE listing price of ₹610.