Prasol Chemicals eye Rs500-cr via IPO

New Delhi: Specialty chemicals manufacturer Prasol Chemicals has filed preliminary papers with capital markets regulator Sebi to raise Rs 500 crore through an initial public offering (IPO).

The IPO comprises a fresh issue of equity shares worth Rs 80 crore and an offer for sale (OFS) of equity shares valued at Rs 420 crore by promoters, according to the draft red herring prospectus (DRHP) filed on Tuesday.

Proceeds from the fresh issue would be utilised towards payment of debt and general corporate purposes. The proposed repayment will help deleverage the Navi Mumbai headquartered company’s balance sheet and strengthen its financial position.

Founded in 1992, Prasol Chemicals is a highly diversified specialty chemical player with over 150 specialty chemical products and 1,107 customers and exports to 69 countries as of July 2025. Its customers include Alembic Pharmaceuticals, Bharat Rasayan, Clean Science and Technology, Coromandel International, Gharda Chemicals, Lubrizol India, Rossari Biotech and Supriya Lifescience.

Going forward, the company plans to expand its manufacturing capacities by increasing the capacity of its existing facilities at Khopoli and Mahad in Maharashtra.

Additionally, it will develop a separate application testing laboratory for lubricant additives, construction chemicals and mining chemicals, the draft papers showed. For the financial year ended March 31, 2025 (FY25).