Prasol Chemicals has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (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.
Proceeds from the fresh issue would be utilised towards payment of debt and general corporate purposes. The proposed repayment will help deleverage the company's balance sheet and strengthen its financial position. DAM Capital Advisors is the sole book-running lead manager to the issue.
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.
