Prasol Chemicals raises nearly ₹150cr from anchors ahead of IPO
Business
Prasol Chemicals just raised nearly ₹150 crore from major investment funds ahead of its IPO.
Big names like Tata Mutual Fund, Kotak Mahindra Mutual Fund, and Aditya Birla Sun Life Insurance picked up shares at ₹676 each, with almost half the anchor shares going to domestic mutual funds.
Prasol IPO priced ₹643 to ₹676
The IPO includes new shares worth ₹80 crore and a sale of up to ₹420 crore by existing shareholders, priced between ₹643 and ₹676 per share.
The money will help Prasol pay off debt and boost working capital.
The company, known for making specialty chemicals used in things like medicines and personal care products, opens its IPO on September 8, closing on September 10.