Prasol Chemicals opens 500cr IPO at ₹643-₹676 on September 8
Business
Prasol Chemicals is opening its IPO for subscriptions on September 8, with shares priced between ₹643 and ₹676.
It is a ₹500 crore IPO, including an up to ₹80 crore fresh issue and an up to ₹420 crore offer for sale, and the fresh issue proceeds will be used for payment of debt, working capital requirements, and general corporate purposes.
If you're into numbers, this values the company at up to ₹6,001 crore.
Brokerages back Prasol Chemicals long term
Brokerages are giving Prasol a thumbs-up for long-term investment, pointing out its strong growth and global reach.
The company stands out as India's only manufacturer of isophorone in India, and has built solid relationships with customers worldwide.
Plus, paying down debt should make its finances even healthier going forward.