Mumbai head quartered Prasol Chemicals Ltd. has submitted DRHP with market regulator SEBI for coming up with its IPO. Company has plans to raise rupees 250 crore by going public. It plans to offload 90 lakh shares via the public offer which include shares of the promoters and existing investors.
Prasol Chemicals reported overall income of Rs. 602.14 crore for FY2021 and Rs. 534.72 crore during previous FY2022. Company’s net income fell to Rs. 25.08 crore which was down from Rs 37.77 crore the previous year.
Prasol Chemicals started its operations during the year 1992 and has now over 600+ employees. The company has spread its business operations in 45 countries and has production capacity of over 54,000 MTs. They serve and supply to segments like pharmaceutical, home & personal care, agrochemical, mining, lubricants, paints etc.
The company will utilise the IPO funds in loan repayment, expansion and exit of existing investors. DAM Capital Advisors Ltd and JM Financial are the book running lead managers for the IPO.
