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Prasol Chemicals Limited

RHP · filed 03 Sept 2026

SEBI cleared

Prasol Chemicals Limited is a company engaged in manufacturing activities. The IPO consists of a fresh issue of Rs 80 crore and an offer for sale of Rs 420 crore, with 84% of the offer size being an offer for sale. The company reported a revenue of Rs 1,232.59 crore and a revenue CAGR of 18.58% over the past three years. The draft prospectus highlights significant operational risks, including the potential for shutdowns due to equipment failure, labour disputes, and environmental issues, as well as specific regulatory concerns such as closure directions received from the Maharashtra Pollution Control Board following a gas leakage incident.

What stands out

Mostly an exit. 84% of the offer is an Offer for Sale, so most proceeds go to selling shareholders, not the company.

Risk factor. Our business is dependent on our manufacturing facilities and we are subject to certain related risks, including the breakdown or failure of equipment, power supply or processes, performance below expected levels of output, efficiency, labour disputes, strikes, environmental issues, lock-outs, non-a

Risk factor. Unplanned slowdowns, unscheduled shutdowns or prolonged disruptions in our manufacturing operations or under-utilization of our manufacturing capacities could have an adverse effect on our business, results of operations, cash flows and financial condition.

Risk factor. In the event that we are forced to shut down our manufacturing facility for a significant period of time, it would have a material adverse effect on our earnings, our results of operations and our financial condition as a whole.

Risk factor. Our manufacturing facilities are subject to environmental issues, including violations of provisions of the Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981, leading to directions to cease manufacturing activities and potential closure.

Low leverage. Debt-to-equity of 0.25x.

How the offer is structured

Fresh issue

₹80.0 Cr

New capital into the company

Offer for sale

₹420 Cr

Goes to selling shareholders

OFS share

84%

Debt repayment

₹60.0 Cr

From fresh proceeds

  • Repayment and/ or pre-payment, in full or part, of certain borrowings availed by our Company₹60.0 Cr
  • General corporate purposes

Restated financials

Revenue

₹1.23k Cr

Latest fiscal year

Revenue CAGR

18.6%

Debt / equity

0.25

Fiscal yearRevenueEBITDAPATNet worth
2024₹877 Cr
2025₹1.01k Cr
2026₹1.23k Cr

Promoters, litigation & related parties

Promoter (pre)

41.3%

Except as disclosed in this section, there are no outstanding (i) criminal proceedings (including first information reports irrespective of any cognizance taken by any court or not) involving our Company, Directors, Promoters, Key Managerial Personnel and Senior Management Personnel (Relevant Parties); (ii) actions by any regulatory authorities and statutory authorities (including any findings/observations of any of the inspections by SEBI or any other regulatory authority or penalties or show cause notices) against our Company and our Promoters ; (iii) consolidated disclosure of all outstanding claims related to direct and indirect taxes, giving the number of cases and total amount involving our Company, Directors or Promoters. Provided that if the amount involved in any such claims exceeds the materiality threshold, such matter(s) shall be disclosed on an individual basis; and (iv) for all outstanding civil/ arbitration proceedings and other pending litigations involving our Company, Directors, or Promoters (other than proceedings covered under (i) to (iii) above) as determined to be material by our Board pursuant to the policy on materiality (Materiality Policy) approved by the Board of Directors, in each case involving our Company, Promoters, or Directors. Further, except disclosed in this section, there are (i) no disciplinary actions including penalties imposed by the SEBI or the stock exchanges against our Promoters in the last five Fiscals including any outstanding action.

Risks the company discloses

  • Our business is dependent on our manufacturing facilities and we are subject to certain related risks, including the breakdown or failure of equipment, power supply or processes, performance below expected levels of output, efficiency, labour disputes, strikes, environmental issues, lock-outs, non-availability of services of our external contractors, planned shut-down for maintenance or inspections, and significant repair and maintenance costs.(Operational)

  • Unplanned slowdowns, unscheduled shutdowns or prolonged disruptions in our manufacturing operations or under-utilization of our manufacturing capacities could have an adverse effect on our business, results of operations, cash flows and financial condition.(Operational)

  • In the event that we are forced to shut down our manufacturing facility for a significant period of time, it would have a material adverse effect on our earnings, our results of operations and our financial condition as a whole.(Operational)

  • Our manufacturing facilities are subject to environmental issues, including violations of provisions of the Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981, leading to directions to cease manufacturing activities and potential closure.(Regulatory)

  • We have received closure directions from the Maharashtra Pollution Control Board (MPCB) on October 27, 2023, following a gas scrubbing systems, H₂S leakage incident at our Mahad Manufacturing Facility, which resulted in one fatality and four hospitalizations.(Regulatory)

  • We have received a show cause notice from MPCB dated March 27, 2025 for non-operational storage of coal ash properly, non-providing proper coal ash storage area and coal ash unscientifically on open land, non-submission of details of bank guarantee, details of hydrogeological study, and one aeration tank and clarifier of ETP not being in operation.(Regulatory)

  • We have received a show cause notice dated July 25, 2025 from MPCB after a fire accident occurred at the Mahad ETP sludge plant, wherein no hazardous injury was reported but non-compliances under section 33(A) of the Water (Prevention & Control of Pollution) Act, 1974 and under Section 31(A) of the Air (Prevention & Control of Pollution) Act, 1981 were reported for not providing proper storage area for ETP sludge and not providing disposal details of hazardous Spent HCL.(Regulatory)

  • We have received a show cause notice dated January 8, 2021 from the Regional Officer, Raigad regarding our Company not having connected the camera flow meter to MPCB and Central Pollution Control Board server, and our Company has not stored sludge and salt generated from MEE plant as per the provisions of the Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2016.(Regulatory)

How this document reads, dimension by dimension

growthrevenue CAGR 18.6%
governanceno governance flags found
balance sheetdebt/equity 0.25x
issue structure84% of the offer is OFS

Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

Figures are extracted automatically from the document filed with SEBI and may contain errors — the linked SEBI document is the authoritative record; analysed 08 Sept 2026.

Not investment advice

These lists are rules-based research, not buy recommendations. Rankings are generated from NSE & BSE data by a deterministic formula and do not account for your personal circumstances. For informational purposes only. Consult a SEBI-registered advisor before investing.

Prasol Chemicals Limited RHP — SEBI filing analysis | DocStoX