1 day ago
Prasol Chemicals Sets ₹500-Crore IPO Price Band, Dates
Prasol Chemicals is planning to sell shares to the public through an IPO.
The IPO will be open from September 8 to September 10.
Investors can buy each share for between ₹643 and ₹676.
Large anchor investors can place bids on September 7.
The total IPO is worth up to ₹500 crore.
Up to ₹80 crore will go directly to the company, while existing shareholders may sell shares worth up to ₹420 crore.
The company plans to use some new money to repay debt and support daily business needs.
Prasol makes chemicals used in medicines, farming products, shampoos, fragrances and disinfectants.
Prasol Chemicals’ ₹500-crore IPO will open on September 8 and close on September 10.
The price band is ₹643-676 per equity share, with anchor bidding scheduled for September 7.
The issue includes a fresh share sale of up to ₹80 crore and an Offer for Sale of up to ₹420 crore.
Fresh-issue proceeds will be used for debt repayment, working capital and general corporate purposes.
The company makes acetone and phosphorus-based specialty chemicals for pharmaceutical, agrochemical and consumer-product applications.
- Who
- Prasol Chemicals Ltd, existing shareholders and prospective investors.
- What
- A ₹500-crore initial public offering comprising a fresh issue and an Offer for Sale.
- Where
- The primary market; the public announcement was reported from New Delhi.
- When
- The IPO opens September 8 and closes September 10; anchor bidding is scheduled for September 7.
- Why
- To raise funds for debt repayment, working capital and general corporate purposes, while allowing existing shareholders to sell shares.
Key facts
- Issue size
- Up to ₹500 crore
- Price band
- ₹643-676 per equity share
- Subscription dates
- September 8-10
- Anchor bidding
- September 7
- Fresh issue
- Up to ₹80 crore
- Offer for Sale
- Up to ₹420 crore
- Upper-end valuation
- Around ₹6,001 crore
- Lead managers
- JM Financial and DAM Capital Advisors
Sources
Related news
Symbiotec Pharmalab to Raise ₹1,757 Crore Through IPO
Symbiotec Pharmalabs IPO Opens With 42% Grey-Market Premium
Lumino Industries Sets Rs 78-82 IPO Price Band
Q&T Foods sets ₹115 IPO price; subscription opens August 12
Pushp Brand Wins Sebi Approval for Up to 74.45-Lakh-Share IPO
ESDS Software Solution IPO Draws 143 Times, GMP Signals Gains
PVR Inox Buyback: September 3 Last Day to Buy
DAM Capital Favors Three Sugar Stocks Amid Tight Supplies
PVR INOX Approves ₹300 Crore Buyback at ₹1,450
