Prasol Chemicals
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 7.59×
- Big non-institutionalbNII · above ₹10 lakh
- 1.22×
- Small non-institutionalsNII · ₹2–10 lakh
- 3.23×
- Retail individualRII · up to ₹2 lakh
- 1.79×
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 14,79,289 | 1,12,28,140 | ₹759 Cr | 7.59× |
| Non-institutional | 11,09,466 | 20,94,994 | ₹142 Cr | 1.89× |
| Big non-institutionalwithin NII | 7,39,644 | 9,01,560 | ₹60.95 Cr | 1.22× |
| Small non-institutionalwithin NII | 3,69,822 | 11,93,434 | ₹80.68 Cr | 3.23× |
| Retail individual | 25,88,753 | 46,39,206 | ₹314 Cr | 1.79× |
| Total | 51,77,508 | 1,79,62,340 | ₹1,214 Cr | 3.47× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 10 Sep, 06:10 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 08 Sep 2026 – 10 Sep 2026
- Listing date
- 16 Sep 2026
- Face value
- ₹2 per share
- Price band
- ₹643 – ₹676
- Issue price
- ₹676 per share
- Lot size
- 22 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹500 Cr
- Fresh issue
- ₹80 Cr 11,83,431 shares
- Offer for sale
- ₹420 Cr 62,13,006 shares
- Promoter holding
- 86.89% → 75.25% pre-issue → post-issue
- ISIN
- INE455U01024
- CIN
- U99999MH1992PLC065026
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Dam Capital Advisors Ltd.
- Registered office
- Prasol House, Plot No A - 17/2/3, T. T. C, Industrial Area, Khairne M.I.D.C., Navi Mumbai, Thane, Maharashtra – 400710, India
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 15,55,209 | 28.57% | 28.57% |
| Anchor investor · within QIB | 22,18,930 | — | 40.76% |
| NII (HNI) | 11,66,406 | 21.43% | 21.43% |
| bNII > ₹10L · within NII | 7,77,604 | — | 14.29% |
| sNII < ₹10L · within NII | 3,88,802 | — | 7.14% |
| Retail (RII) | 27,21,614 | 50.00% | 50.00% |
| Employee | 0 | — | 0.00% |
| Total issue | 54,43,229 | — | 100.00% |
Net offer to the public of 54,43,229 shares, out of a total issue of 54,43,229. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 22 shares per lot, in multiples, at ₹676
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 22 | ₹14,872 |
| Retail (max) | 13 | 286 | ₹1,93,336 |
| S-HNI (min) | 14 | 308 | ₹2,08,208 |
| S-HNI (max) | 67 | 1,474 | ₹9,96,424 |
| B-HNI (min) | 68 | 1,496 | ₹10,11,296 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 14.33 | — |
| P/E (×) | 47.17 | — |
Key performance indicators
- Return on net worth
- 18.53%
- ROCE
- 24.00%
- Debt / equity
- 0.19
- PAT margin
- 6.74%
- EBITDA margin
- 11.30%
- NAV per share
- ₹77.33
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 1,237.85 | 1,015.54 | 887.56 |
| Revenue from operations | 1,232.59 | 1,012.49 | 876.57 |
| Other income | 5.25 | 3.05 | 11 |
| Total expenses | 1,125.95 | 956.25 | 848.28 |
| Operating profit | 111.9 | 59.29 | 39.28 |
| Operating margin | 9.04% | 5.84% | 4.43% |
| Profit before tax | 111.9 | 59.29 | 33.51 |
| Profit after tax | 83.12 | 43.57 | 18.13 |
| PAT margin | 6.71% | 4.29% | 2.04% |
| Balance sheet | |||
| Total assets | 839.28 | 723.09 | 626.36 |
| Current assets | 474.21 | 372.98 | 275.53 |
| Current liabilities | 307.71 | 278.55 | 230.78 |
| Total liabilities | 390.77 | 355.62 | 300.52 |
| Net worth | 448.51 | 367.47 | 325.84 |
| Current ratio | 1.54× | 1.34× | 1.19× |
| Return on equity | 18.53% | 11.86% | 5.56% |
| Cash flow | |||
| Operating cash flow | 49.47 | 22.26 | 115.61 |
| Investing cash flow | -38.43 | -22.48 | -17.9 |
| Financing cash flow | 0.14 | 10.23 | -115.11 |
| Net cash flow | 7.42 | 6.69 | -11.07 |
Objects of the issue
1 Repayment and/or pre-payment of certain borrowings, in full or part, availed by the Company ₹60 Cr
The company proposes to utilize funds towards full or partial repayment or pre-payment of certain term loans to help deleverage the company, maintain optimal debt-equity ratio, reduce debt servicing costs, and improve return on capital employed.
2 General corporate purposes —
The company proposes to utilize funds for general corporate purposes including ongoing business requirements, strategic initiatives, business development, corporate contingencies, organic or inorganic growth, and other expenses as approved by the Board.
1 of 2 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Prasol Chemicals
Prasol Chemicals Limited, originally incorporated as 'Prachi Poly Products Private Limited' on January 24, 1992, and converted to its current name on March 26, 2007, operates two manufacturing facilities located in Khopoli and Mahad in Maharashtra, India. The company manufactures specialty chemicals through complex and differentiated chemistries, generating revenue from acetone-based specialty chemicals (42.75% of FY2026 revenue), phosphorous-based specialty chemicals (38.30%), and other specialty chemicals (18.33%). The company operates on a B2B2C model, serving 1,618 customers across multiple industries with no single customer contributing more than 5% of revenue. In FY2026, the company generated revenue from operations of ₹12,325.93 million with a profit before tax of ₹1,118.99 million.
Management
Nishith Rajnikant Shah
MD
Gaurang Natwarlal Parikh
CEO
Strengths
As stated in the offer document
Highly diversified product portfolio used across various Application Industries
The company is a highly diversified specialty chemical player with over 150 specialty chemical products and over 1,600 customers and exports to 69 countries. The diverse applications across multiple industries insulate the company from changes in business cycles or disruptions in any one industry.
Well established R&D capabilities driving innovation with strong pipeline of products to address customised customer requirements
The company has a dedicated in-house R&D team of 37 members comprising 4 members holding PhD and 25 chemists. The company has a pipeline of 40 products at various stages of development and has developed and commercialised 13 new products since April 1, 2023.
Long standing relationships with a diversified customer base and strong global presence
The company catered to 1,618, 1,586, and 1,560 customers during Fiscals 2026, 2025 and 2024 respectively. The company is a Government of India certified 3 Star Export House with a robust global distribution network extending to 69 countries.
Experienced, Qualified and Professional Leadership Team with a focus on business sustainability
The company is led by well-qualified and experienced Board of Directors and key managerial personnel with extensive domain knowledge. The company has achieved EcoVadis sustainability rating with a score of 93% and received various awards including 'Make in India' partnering award.
Robust financial performance
The company has over 3 decades of track record with sustained growth in financial indicators. Revenue from Operations grew from ₹8,765.65 million in Fiscal 2024 to ₹12,325.93 million in Fiscal 2026, with Operating EBITDA Margin improving from 6.91% to 11.30%.
Risk factors
As stated in the offer document
Manufacturing Facility Dependency and Regulatory Shutdowns
The company is dependent on two manufacturing facilities in Maharashtra, which have been subject to regulatory shutdowns by MPCB in the past. The Mahad facility was shut down from October 27, 2023 to May 3, 2024 due to gas leakage incidents, resulting in decreased revenue and capacity underutilization.
Hazardous Materials and Safety Incidents
The company handles hazardous, corrosive and flammable raw materials and finished products requiring expert handling. Past incidents include fatalities from gas leakage (H₂S and SO₂) and chemical exposure, resulting in regulatory action and operational shutdowns.
Outstanding Litigation and Legal Proceedings
The company faces various legal proceedings including 16 statutory/regulatory proceedings against it, 6 criminal proceedings against promoters, and tax proceedings totaling ₹61.83 million in aggregate amount involved, which could result in financial liabilities and management distraction.
Significant Cash Flow Volatility
Net cash from operating activities has fluctuated significantly from ₹1,156.06 million in Fiscal 2024 to ₹222.60 million in Fiscal 2025 and ₹494.70 million in Fiscal 2026, indicating potential liquidity and working capital management challenges.
Substantial Contingent Liabilities
As of March 31, 2026, aggregate contingent liabilities and commitments were ₹1,091.22 million, constituting 24.33% of net worth, compared to 12.74% in Fiscal 2025. Materialization of these liabilities could significantly impact financial condition.
Customer Dependency and Market Demand Risk
The company's business relies on success of customers' end products, with top 10 customers contributing 23.68% of revenue in Fiscal 2026. Any decline in demand for end products or loss of key customers could adversely impact business operations.
Regulatory Approvals and Compliance Risk
The company requires numerous approvals, licenses and permits to operate, with one material approval pending renewal as of the prospectus date. Failure to obtain or renew licenses could disrupt operations and affect business continuity.
Company Analysis
from RHPPrasol Chemicals Limited is a forward-integrated manufacturer of acetone and phosphorous-based specialty chemicals and other specialty chemicals serving performance chemicals, paints/inks/construction/adhesives, pharmaceuticals, agrochemicals, and home and personal care industries.
Prasol Chemicals Limited, originally incorporated as 'Prachi Poly Products Private Limited' on January 24, 1992, and converted to its current name on March 26, 2007, operates two manufacturing facilities located in Khopoli and Mahad in Maharashtra, India. The company manufactures specialty chemicals through complex and differentiated chemistries, generating revenue from acetone-based specialty chemicals (42.75% of FY2026 revenue), phosphorous-based specialty chemicals (38.30%), and other specialty chemicals (18.33%). The company operates on a B2B2C model, serving 1,618 customers across multiple industries with no single customer contributing more than 5% of revenue. In FY2026, the company generated revenue from operations of ₹12,325.93 million with a profit before tax of ₹1,118.99 million.
Objects of the Issue
- Not disclosed in this part of the document
- Repayment of borrowings ₹600.00 million p.53
- Net Proceeds from Fresh Issue ₹800.00 million (Fresh Issue component) p.92
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company ₹ 600.00 million p.193
- General corporate purposes [●] p.193
Issue Structure
- Total Issue
- ₹5,000.00 million
- Fresh Issue
- ₹800.00 million
- Offer for Sale
- ₹4,200.00 million
- Price Band
- Floor Price: ₹[●] per Equity Share; Cap Price: ₹[●] per Equity Share (to be decided)
- Lot Size
- [●] Equity Shares (Bid Lot size to be decided)
- Face Value
- ₹2 per Equity Share
Business Model
Prasol Chemicals manufactures and sells specialty chemicals to downstream industries including pharmaceuticals, agrochemicals, paints/inks/construction/adhesives, performance chemicals, and home and personal care sectors. The company operates on a business-to-business-to-consumer (B2B2C) model, with revenue dependent on the success of customers' products with end consumers.
Business Segments
SWOT Analysis
- • Diversified customer base with long-term relationships enabling cross-selling(p.58)
- • Established quality certifications and regulatory approvals(p.65)
- • Advanced quality control infrastructure and testing capabilities(p.65)
- • Dedicated R&D laboratory and substantial product pipeline(p.54)
- • Strong debt service coverage and healthy leverage metrics(p.75)
- • Analyst coverage impacts share valuation(p.91)
- • Revenue growth trajectory across three fiscal years(p.91)
- • Consistent profitability improvement year-on-year(p.96)
- • Largest importer and manufacturer of acetone-based specialty chemicals in India with diversified portfolio(p.294)
- • Only manufacturer of isophorone in India with dedicated capacity(p.294)
- • Top-five importer of yellow phosphorus with broad phosphorus-based specialty chemicals portfolio(p.294)
- • Highly diversified customer base across 20+ industries with 150+ products and 1,600+ customers(p.294)
- • Strong application-driven R&D capabilities for performance chemicals development(p.295)
- • Global footprint with exports to 69 countries across multiple regions(p.294)
- • Backward integration with robust certifications and recognition as export house(p.295)
- • Strategic positioning attracting global technology transfer and manufacturing partnerships(p.295)
- • Highly diversified product portfolio with 150+ specialty chemicals across multiple industries(p.307)
- • Market leadership in acetone-based specialty chemicals manufacturing in India(p.307)
- • Strong R&D capabilities with dedicated team and pipeline of 40 new products(p.308)
- • Long-standing customer relationships with growing wallet share(p.309)
- • Strong global presence across 69 countries with certified 3-Star Export House status(p.310)
- • Strong financial performance with improving margins and profitability(p.312)
- • Experienced and qualified leadership team with industry expertise(p.311)
- • Established board governance and committee structure(p.353)
- • Comprehensive audit and financial oversight mechanisms(p.353)
- • Risk management framework and cyber security governance(p.359)
- • Experienced and stable key management personnel(p.363)
- • Established succession planning and board development(p.358)
- • Diversified product portfolio with 150+ specialty chemicals and 1,600+ customers across 69 countries(p.452)
- • Market leadership in acetone-based and phosphorous-based specialty chemicals production in India(p.452)
- • Strong financial performance with 90.79% increase in profit year-on-year and EBITDA margin improvement(p.460)
- • Robust R&D team with dedicated focus on product innovation and customer collaboration(p.455)
- • Global distribution network and 3-Star Export House certification from Government of India(p.453)
- • Strong profitability with EBITDA margin of 11.30% in FY 2026 vs 8.67% in FY 2025(p.446)
- • Low financial leverage with net debt to equity ratio of 0.19(p.436)
- • History of manufacturing facility shutdowns due to regulatory violations(p.28)
- • Low capacity utilization at Mahad facility(p.32)
- • Ongoing losses at Mahad Manufacturing Facility(p.32)
- • Modified auditor opinion on internal financial controls over inventory(p.38)
- • High contingent liabilities relative to net worth(p.40)
- • Significant fluctuations in operating cash flows(p.36)
- • Multiple pending litigations with significant aggregate exposure(p.35)
- • Property held on leasehold basis with compliance issues(p.31)
- • High customer concentration risk with top 10 customers representing 23.68% of revenue(p.57)
- • Significant reliance on few suppliers for raw materials (68.87% from top 10 suppliers)(p.63)
- • High employee attrition rate of 27.96% in Fiscal 2026(p.50)
- • Missing corporate records relating to share capital changes and director appointments(p.71)
- • Past delays in statutory dues payments including EPF contributions(p.57)
- • Regulatory non-compliance findings related to minimum wages and labour laws(p.69)
- • Dependence on analyst coverage for market valuation(p.91)
- • Vulnerability to analyst downgrades and negative research(p.91)
- • Risk of loss of analyst coverage reducing market demand(p.91)
- • High working capital requirements impacting cash flow(p.95)
- • Contingent liabilities including regulatory claims(p.100)
- • Limited competitive advantage in acetone-based segment due to dependence on imported acetone(p.294)
- • Smaller employee strength and R&D team compared to major competitors(p.295)
- • Export dependency concentration with 28% of sales from exports against higher ratios for competitors(p.295)
- • Smaller customer base compared to competitors like Atul and Yasho Industries(p.295)
- • High concentration among top 10 customers representing 23.68% of revenue(p.309)
- • Mahad Manufacturing Facility operating at low capacity utilization of 44.09% with historical losses(p.319)
- • Heavy dependence on few raw material suppliers with top 10 suppliers at 68.87% of material cost(p.321)
- • Limited domestic competition advantage may be eroded by new entrants(p.322)
- • One promoter unable to trace educational documents(p.68)
- • Managerial remuneration exceeded statutory limits in FY 2023-24(p.381)
- • Deputy CFO resigned due to medical reasons(p.365)
- • Material stock discrepancies between books and borrower statements(p.421)
- • Contingent liabilities from DRI and tax disputes(p.426)
- • High dependence on top 10 customers contributing 23.68% of total revenue(p.457)
- • Reliance on a few key suppliers for raw material procurement without long-term agreements(p.457)
- • All manufacturing facilities concentrated in Maharashtra state creating geographic concentration risk(p.457)
- • Multiple pending regulatory and environmental violations from Maharashtra Pollution Control Board(p.472)
- • Criminal proceedings against promoter for alleged workplace safety violations and worker fatalities(p.475)
- • Pending MIDC lease dispute with potential recovery demands and revoking of lease(p.473)
- • Modified audit opinion on internal financial controls over inventory management(p.468)
- • Expansion into new geographic markets with current exports to 63 countries(p.60)
- • Increased focus on R&D for product innovation and complex chemistries(p.55)
- • Inorganic growth through strategic acquisitions and technology partnerships(p.76)
- • Debottlenecking and expansion of production capacities for existing products(p.72)
- • Increasing wallet share with existing customers through new products(p.72)
- • Revenue expansion through increased operations(p.94)
- • Rapid growth in Indian specialty chemicals market driven by China+1 strategy and supply chain diversification(p.239)
- • Strong domestic demand with specialty chemicals market growing at 10-12% CAGR(p.238)
- • Highest growth potential among major Asian economies with India expected to record 11% CAGR(p.240)
- • Significant capex planned in specialty chemicals sector with over Rs 16,100 crores investment(p.241)
- • Government support through favorable policies including PLI scheme and PCPIRs(p.240)
- • Availability of spare land for future capacity expansion at both manufacturing locations(p.295)
- • Growing demand across acetone-based specialty chemicals with market projected to reach Rs 105 billion by FY29(p.284)
- • Expand production capacity at existing facilities at Khopoli and Mahad in Maharashtra(p.313)
- • Leverage China+1 strategy as companies seek to reduce dependence on Chinese suppliers(p.314)
- • Global specialty chemicals market projected to expand at 9.0% CAGR to USD 1,748 billion by CY29(p.313)
- • Pursue strategic acquisitions, technology licensing, and joint ventures for growth(p.314)
- • Enter new geographies including potential greenfield in Odisha under MoU with state government(p.313)
- • Increase market share with existing customers through cross-selling and geographic expansion(p.314)
- • Forward and backward integration of existing products to create value addition(p.313)
- • Planned expansion into Gujarat for acetone and phosphorous chemicals(p.388)
- • Capital investment program with significant CWIP(p.404)
- • Growing revenue and profitability trajectory(p.384)
- • Increasing product portfolio and intangible asset development(p.407)
- • Expansion of export incentives and market reach(p.423)
- • Growing demand for specialty chemicals across five key application industries globally(p.452)
- • Strategic focus on developing new products with 40 products in pipeline at various development stages(p.455)
- • Make in India opportunity to reduce import dependence in specialty chemicals(p.455)
- • Expansion of customer base through collaborative product development(p.455)
- • Geographic expansion potential with current exports to 69 countries and opportunity to increase international presence(p.452)
- • Regulatory closure risks from environmental compliance(p.28)
- • Hazardous material handling and industrial accident risks(p.33)
- • Gas leakage incidents causing extended shutdowns(p.28)
- • Demand dependent on end-consumer adoption in multiple industries(p.41)
- • Supply chain disruptions in target industries(p.41)
- • Regulatory approval and licensing renewal dependencies(p.42)
- • Customer credit risk and payment defaults(p.44)
- • Volatility in raw material prices (acetone and yellow phosphorus)(p.63)
- • Past facility shutdowns due to environmental violations and gas leakage incidents(p.68)
- • Increasing stringency of environmental, health and safety regulations(p.69)
- • Foreign exchange volatility affecting export revenues and costs(p.55)
- • Global pricing pressures and competition from international manufacturers(p.66)
- • Geopolitical risks including tariffs and trade restrictions(p.60)
- • Risk of regulatory approvals delays for new products in international markets(p.60)
- • Dependence on working capital with increasing inventory and receivables requirements(p.69)
- • Unpredictable market conditions post-listing(p.91)
- • Risk of stock exchange surveillance measures limiting trading(p.91)
- • Valuation multiples may not reflect post-listing market price(p.91)
- • Uncertainty regarding active trading market development(p.91)
- • Income tax disallowance penalties pending appeal(p.100)
- • Geopolitical tensions and Iran-US conflict impacting crude oil prices and freight costs(p.232)
- • Volatile input costs and supply chain disruptions affecting acetone availability and pricing(p.241)
- • Strong global competition from established manufacturers like Solvay, Evonik, and Arkema(p.295)
- • Cyclicality and volatility in chemical sector driven by macroeconomic factors(p.228)
- • Below-normal monsoon and El Niño conditions potentially increasing input costs(p.232)
- • Regulatory compliance requirements and environmental standards increasing operational costs(p.242)
- • Risk of market consolidation and consolidation among competitors reducing profitability(p.239)
- • Stringent regulatory compliance requirements especially for pharmaceuticals and HPC segments(p.301)
- • Supply chain disruptions from raw material availability especially acetone and yellow phosphorous(p.301)
- • Intense global competition from multinational chemical manufacturers(p.322)
- • High customer approval cycle and entry barriers for new products (1-4 years)(p.305)
- • Sustainability and environmental regulatory pressures across all application industries(p.301)
- • Environmental and safety regulations such as REACH affecting product development and costs(p.301)
- • Exposure to agrochemical industry cyclicality and de-stocking in global markets(p.315)
- • Pending litigation with tax authorities and regulatory bodies(p.426)
- • Significant financial leverage and debt obligations(p.417)
- • High interest rate exposure on floating rate loans(p.419)
- • Foreign exchange fluctuation risks affecting operations(p.425)
- • Material disputed GST refund and customs duty matters(p.426)
- • High volatility in raw material pricing and supply dependent on external factors beyond company control(p.457)
- • Government policy changes affecting commodity prices and chemical sector regulations(p.457)
- • Regulatory approval barriers and customer approval cycles of 1-4 years creating market entry restrictions(p.454)
- • Dependence on customer success in their respective industries for revenue sustainability(p.456)
- • Raw materials cost constituting 68.98% of total income creating significant cost pressure(p.457)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Nishith Rajnikant Shah | Promoter | — | — |
| Gaurang Natwarlal Parikh | Promoter | — | — |
| Dhaval Nalin Parikh | Promoter | — | — |
| Pankil Nishith Dharia | Promoter | — | — |
| Sachin Jatin Parikh | Promoter | — | — |
| Rakesh Gupta | Promoter | — | — |
| Nishith Rasiklal Dharia | Promoter | — | — |
| Kunal Tushar Dharia | Promoter | — | — |
| Suketu Navinchandra Parikh | Promoter | — | — |
| Usha Rajnikant Shah | Promoter | — | — |
| Nishith Rajnikant Shah | Promoter | — | — |
| Gaurang Natwarlal Parikh | Promoter | — | — |
| Dhaval Nalin Parikh | Promoter | — | — |
| Pankil Nishith Dharia | Promoter | — | — |
| Nishith Rajnikant Shah | Promoter | — | — |
| Gaurang Natwarlal Parikh | Promoter | — | — |
| Promoter Group members (42 total promoters) | Promoter Group | 51,735,560 (89.20%) | — |
| Usha Rajnikant Shah (held jointly with Nishith Rajnikant Shah and Sandhya Nishith Shah) | Promoter | 11.86% | [●] |
| Gaurang Natwarlal Parikh (held jointly with Tanvi Gaurang Parikh) | Promoter | 8.97% | [●] |
| Nishith Rasiklal Dharia (held jointly with Sonal Nishith Dharia) | Promoter | 8.59% | [●] |
| Sachin Jatin Parikh (held jointly with Shruti Sachin Parikh) | Promoter | 3.45% | [●] |
| Dhaval Nalin Parikh | Promoter | 3.10% | [●] |
| Kunal Tushar Dharia (held jointly with Tushar Natverlal Dharia and Ami Tushar Dharia) | Promoter | 3.10% | [●] |
| Usha Rajnikant Shah (held jointly with Nishith Rajnikant Shah) | Promoter | 1.03% | [●] |
| Suketu Navinchandra Parikh (held jointly with Lina Suketu Parikh) | Promoter | 0.60% | [●] |
| Rakesh Gupta (held jointly with Veenu Rakesh Gupta) | Promoter | 0.34% | [●] |
| Nishith Rajnikant Shah (held jointly with Shah Sandhya Nishith) | Promoter | 0.17% | [●] |
| Pankil Nishith Dharia (held jointly with Kinjal Pankil Dharia) | Promoter | 0.03% | [●] |
| Nishith Rajnikant Shah | Promoter | — | — |
| Gaurang Natwarlal Parikh | Promoter | — | — |
| Dhaval Nalin Parikh | Promoter | — | — |
| Pankil Nishith Dharia | Promoter | — | — |
| Nishith Rajnikant Shah | Promoter | 0.17% | — |
| Gaurang Natwarlal Parikh | Promoter | 8.97% | — |
| Dhaval Nalin Parikh | Promoter | 3.10% | — |
| Pankil Nishith Dharia | Promoter | 0.03% | — |
| Sachin Jatin Parikh | Promoter | 3.45% | — |
| Rakesh Gupta | Promoter | 0.34% | — |
| Nishith Rasiklal Dharia | Promoter | 8.59% | — |
| Kunal Tushar Dharia | Promoter | 3.10% | — |
| Suketu Navinchandra Parikh | Promoter | 0.60% | — |
| Usha Rajnikant Shah | Promoter | 12.90% | — |
| Nishith R. Shah | Promoter/Executive Director | — | — |
| Gaurang N. Parikh | Promoter/Executive Director | — | — |
| Dhaval N. Parikh | Promoter/Executive Director | — | — |
| Gaurang Natwarlal Parikh | Promoter Selling Shareholder | — | — |
| Usha Rajnikant Shah | Promoter Selling Shareholder | — | — |
| Nishith Rajnikant Shah | Chairman and Whole-Time Director | — | — |
| Gaurang Natwarlal Parikh | Managing Director | — | — |
| Dhaval Nalin Parikh | Joint Managing Director | — | — |
| Gaurang Natwarlal Parikh | Promoter/Selling Shareholder | — | — |
| Tanvi Gaurang Parikh | Promoter/Selling Shareholder | — | — |
| Gaurang Natwarlal Parikh HUF | Promoter/Selling Shareholder | — | — |
| Nishith Rajnikant Shah | Promoter/Selling Shareholder | — | — |
| Usha Rajnikant Shah | Promoter/Selling Shareholder | — | — |
| Shah Sandhya Nishith | Promoter/Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Prasol Chemicals Ltd. THIS ISSUE | 14.33 | 77.33 | — | — | 18.53% |
| 11.56 | 164.27 | 46.75 | — | 7.04% | |
| 230.25 | 2,136.46 | 28.04 | — | 10.95% | |
| 2.87 | 71.66 | 59.74 | — | 4.00% | |
Vinati Organic Ltd. | 42.80 | 304.99 | 30.95 | — | 14.03% |
| 81.08 | 368.79 | 42.67 | — | 21.99% | |
| 20.95 | 368.18 | 206.68 | — | 5.69% | |
| 60.19 | 1,354.74 | 17.12 | — | 4.44% |
Blank cells are figures the offer document does not publish. An unlisted issue has no market price, so it has no price-based multiple until it lists.