The grey‑market index for Prasol Chemicals ticked at ₹663 on Wednesday, down from the ₹676 IPO valuation and a 2% discount, reflecting early caution.
During the September 8‑10 subscription window, the IPO drew a 3.30× multiple, beating the 3.0× consensus; QIBs accounted for 7.22×, while retail and non‑QIBs stayed at 1.80× and 1.70×, respectively.
Anchor investors pooled nearly ₹150 crore, with 22.19 lakh shares allotted at the full issue price; mutual funds captured 45.34% of this allocation, underscoring institutional confidence.
Proceeds from the ₹500 crore fresh issue will be earmarked for debt repayment, working capital and general corporate purposes, as per the company's filing on the BSE site.
Prasol, a forward‑integrated manufacturer of acetone and phosphorus‑based speciality chemicals, serves pharma, agrochem and consumer segments; analysts expect the launch to strengthen the company’s balance sheet and provide a platform for future expansion.