In the grey market, Prasol Chemicals shares were commanding a premium of nearly 1 percent over the upper end of the IPO price band on the morning of September 10, according to market-tracking platform InvestorGain.
Investors must note that the grey market premiums are unofficial and based on market speculation. They do not guarantee listing gains or reflect the company's fundamentals.
The Rs 500-crore mainboard IPO is a book-built issue comprising a fresh issue of 11.83 lakh shares aggregating to Rs 80 crore and an offer for sale (OFS) of 62.13 lakh shares worth Rs 420 crore. The price band has been fixed at Rs 643-676 per share.
The issue opened for subscription on September 8 and will remain open until September 10, 2026.
The company proposes to use Rs 60 crore of the net proceeds towards repayment and pre-payment, in full or part, of certain borrowings. The balance proceeds will be used for general corporate purposes.