Company Overview
Business Description: The company was originally incorporated as 'Prachi Poly Products Private Limited' under the provisions of the Companies Act, 1956 pursuant to a certificate of incorporation dated January 24, 1992. A certificate of change of name was issued on February 4, 2022 by the Registrar of Companies.
Corporate Identity Number: U99999MH1992PLC065026
Contact: Tel: +91 22 6195 2500; E-mail: investorservices@prasolchem.com; Website: www.prasolchem.com
Offer Details
Offer Type: Initial Public Offering (IPO)
Offer Size: Total offer of up to ₹5000.00 million, comprising:
- Fresh Issue: Up to ₹800.00 million by the company
- Offer for Sale: Up to ₹4200.00 million by Selling Shareholders
Price Band: Price of ₹[●] per equity share (including a share premium of ₹[●] per equity share)
Equity Shares: Face value of ₹2 each
Post-Offer Capital: The offer shall constitute [•]% of the post-offer paid-up equity share capital
Promoters and Selling Shareholders
Promoters: Nishith Rajnikant Shah, Gaurang Natwarlal Parikh, Dhaval Nalin Parikh, Pankil Nishith Dharia, Sachin Jatin Parikh, Rakesh Gupta, Nishith Rasiklal Dharia, Kunal Tushar Dharia, Suketu Navinchandra Parikh
Offer for Sale Breakdown:
- Up to ₹469.50 million by Gaurang Natwarlal Parikh HUF
- Up to ₹390.30 million by Bhisham Kumar Gupta (held jointly with Raksha Bhisham Gupta)
- Up to ₹222.50 million by Sonal Nishith Dharia (held jointly with Nishith Rasiklal Dharia)
- Up to ₹185.00 million by Suhagi Dhaval Parikh
- Up to ₹100.00 million by Sachin Jatin Parikh (held jointly with Shrut i Sachin Parikh)
- Up to ₹76.45 million by Namita Tushar Parikh
- Up to ₹69.09 million by Shruti Sachin Parikh (held jointly with Sachin Jatin Parikh)
- Up to ₹64.82 million by Heta T Parikh
- Up to ₹52.17 million by Gaurang [Additional details truncated in source]
- Up to ₹50.00 million by Kinjal Pankil Dharia (held jointly with Pankil Nishith Dharia)
- Up to ₹32.52 million by Suketu Navinchandra Parikh (held jointly with Lina Suketu Parikh)
- Up to ₹32.52 million by Sundeep Navinchandra Parikh (held jointly with Sheetal Sandeep Parikh)
- Up to ₹32.52 million by Sheetal Sandeep Parikh (held jointly with Sundeep Navinchandra Parikh)
- Up to ₹3.00 million by Jignasha Jay Kantawala (held jointly with Jay Shailesh Kantawala)
Corrigendum to DRHP
Reference: Draft Red Herring Prospectus dated October 14, 2025 (DRHP)
Additional Promoter Group Entities: The following 2 entities also formed part of the Promoter Group as on the date of the DRHP:
- Yellow Octopus LLP
- Manshi Fabricators Private Limited
Confirmation: As on the date of the DRHP and as on the date of this Corrigendum, the Additional Promoter Group Entities are not prohibited or debarred from accessing the capital market and are in compliance with Regulation 5 of the SEBI ICDR Regulations, to the extent applicable.
Appointed Intermediaries
Book Running Lead Manager: DAM Capital Advisors Limited
- Address: Altimus 2202, Level 22, Pandurang Budhkar Marg, Worli, Mumbai - 400018, Maharashtra, India
- Tel: +91 22 4202 2500
- E-mail: prasol.ipo@damcapital.in
- SEBI Registration No: MB/INM000011336
Registrar to the Offer: KFin Technologies Limited
- Address: Selenium Tower B, Plot No.31 and 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad - 500 032, Telangana, India
- Tel: +91 40 6716 2222/ 1800 309 4001
- SEBI registration no.: INR000000221
Company Secretary and Compliance Officer: Kiran Rajendra Agrawal
Legal Framework
Compliance: Filed in compliance with Chapter II of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (SEBI ICDR Regulations)
Stock Exchanges: Main Board of the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE)
Date of Announcement: January 22, 2026