The ₹500 crore Prasol Chemicals IPO enters its final bidding session today, 10 September 2026. Retail demand has climbed toward full subscription through the first two days, while institutional bids, which typically arrive late in the window, remain the deciding factor before close.
IPO Snapshot: Key Dates and Numbers
Prasol Chemicals Limited, a specialty chemicals manufacturer incorporated in 1992, opened its mainboard initial public offering (IPO) on 8 September 2026.
The issue closes today and is a book-built offer worth ₹500 crore, split between a fresh issue of about ₹80 crore and an offer for sale (OFS) of about ₹420 crore by existing shareholders.
| Detail | Value |
|---|---|
| Open Date | 8 September 2026 |
| Close Date | 10 September 2026 |
| Price Band | ₹643 to ₹676 per share |
| Lot Size | 22 shares |
| Minimum Investment (retail) | Approximately ₹14,872 |
| Issue Size | ₹500 crore |
| Listing At | NSE and BSE |
| Allotment Date | 11 September 2026 |
| Listing Date | 16 September 2026 |
| Registrar | Kfin Technologies Ltd |
| Lead Manager | Dam Capital Advisors Ltd |
The reservation is split roughly 50 percent for qualified institutional buyers (QIB), 35 percent for retail individual investors, and 15 percent for non-institutional investors (NII, mainly high-net-worth individuals).
How Subscription Has Built Up Through the Three-Day Window
Demand has grown steadily since the issue opened, with retail investors leading the book while QIB and NII bids typically build closer to the deadline, a common pattern for mainboard issues.
| Session | Overall | Retail | NII | QIB |
|---|---|---|---|---|
| Day 1 close (8 Sep, 5:06 PM) | 0.44x | 0.73x | 0.33x | 0.00x |
| Day 2 (9 Sep, around 12 noon) | 0.57x | 0.93x | Updating | Updating |
| Day 3, closing session (10 Sep, 10:15 AM) | 0.76x | Updating | Updating | Updating |
By the Day 1 close, the retail portion had already reached 0.73 times its allotted quota, while the QIB book stood untouched at 0.00 times.
Retail demand edged further to about 0.93 times by late morning on Day 2, and overall subscription had climbed to roughly 0.76 times by mid-morning on the closing day.
QIB and large NII bids on mainboard issues often arrive in the final hours of trading. Today’s closing figures, due after the window shuts this evening, are likely to move meaningfully from the morning snapshot above. Investors can check the final, official numbers on the NSE and BSE websites once bidding ends.
Grey Market Premium Cools Sharply Ahead of Listing
The grey market premium (GMP) is an unofficial, unregulated indicator of investor sentiment, quoted informally outside the exchanges and not endorsed by SEBI, NSE, or BSE.
For Prasol Chemicals, third-party trackers have shown a sharp cooling trend through the bidding window. Quotes touched highs of roughly ₹120 to ₹165 per share in the days before the issue opened, then eased toward the ₹0 to ₹45 range by 8 and 9 September.
That implies an indicative premium of anywhere from about 0 percent to roughly 7 percent over the ₹676 upper band, depending on the tracker and the time of day. Because GMP figures vary widely between sources and change constantly, they should never be the sole basis for an investment decision.
Anchor Investors and the Business Behind the Issue
Ahead of the public issue, Prasol Chemicals raised close to ₹150 crore from anchor investors on 7 September 2026, allotting shares at the ₹676 upper price band.
The company manufactures more than 150 specialty chemical products built around acetone-based and phosphorus-based chemistries, spanning 21 acetone-based, 53 phosphorus-based, and 76 other specialty products.
Its products serve performance chemicals, paints and coatings, pharmaceuticals, agrochemicals, and home and personal care industries. The company serves over 1,600 customers across 69 countries and holds a Government of India 3 Star Export House certification.
For the financial year ended 31 March 2026, the company’s total income rose about 22 percent to ₹1,237.85 crore from ₹1,015.54 crore a year earlier, while profit after tax nearly doubled, up about 91 percent to ₹83.12 crore from ₹43.57 crore.
How to Apply Before Today’s Cutoff
- You will need an active demat and trading account with a SEBI-registered broker to bid; open one today if you don’t already have it, since the window closes this evening.
- Enter your bid within the ₹643 to ₹676 price band, in multiples of the 22-share lot, through your broker’s app or net banking platform.
- Submit the bid using the UPI-based ASBA method, so the bid amount is blocked in your bank account rather than debited upfront.
- Approve the UPI mandate on your phone promptly, well before today’s cutoff, since the issue will not reopen after this session.
What Happens Next
Allotment is expected to be finalised on 11 September 2026, and the shares are tentatively scheduled to list on the NSE and BSE on 16 September 2026.
Once listed, many investors track the stock through their broker’s online trading platform to decide their next move.
Investors are encouraged to review Prasol Chemicals’ financials and risk factors in the red herring prospectus on nseindia.com and bseindia.com, and to apply only after independent due diligence.
Investments in securities are subject to market risks. This article is for informational purposes only and is not investment advice.
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