Prasol Chemicals has fixed its initial public offering (IPO) price band at ₹643 to ₹676 per equity share, with the subscription window opening on September 8. The company aims to raise ₹80 crore through the fresh issue, while promoters plan to sell shares worth ₹420 crore. The allocation for anchor investors is scheduled for September 7, according to livemint.com.
The IPO comprises a fresh issue of shares to raise ₹80 crore, alongside an offer for sale by existing promoters amounting to ₹420 crore. The price band has been set after consultations with merchant bankers and market conditions. The subscription period will run from September 8, with anchor investors receiving their allocations a day earlier, as reported by livemint.com.
This IPO comes amid a steady flow of public offerings in the chemical sector, reflecting investor interest in specialty chemicals and related industries. Prasol Chemicals’ move to raise ₹80 crore fresh capital aims to support expansion and debt reduction. The promoters’ offer for sale of ₹420 crore provides liquidity to existing shareholders, a structure seen in comparable recent IPOs in the sector, according to livemint.com.
The IPO subscription will close on September 10, with the company expected to list on stock exchanges shortly thereafter. The ₹643-₹676 price band sets the valuation benchmark for investors assessing the company’s market entry, as detailed by livemint.com.