Navi Mumbai-based Prasol Chemicals, an acetone- and phosphorous-based specialty chemicals manufacturer, has filed draft red herring prospectus with the SEBI to raise funds up to Rs 500 crore via initial share sale.

The company proposed to raise Rs 80 crore via fresh issue, while promoters will offload up to Rs 420 crore worth shares through offer-for-sale route, indicating the majority amount will be received by existing shareholders, as per the DRHP filed on October 14.

Promoters hold 89.20 percent stake in Prasol, and the remainder 10.8 percent shares are owned by public shareholders.

The company will utilise Rs 60 crore of fresh issue proceeds for repayment of its certain borrowings, and the remaining amount for general corporate purposes.

As of August 2025, the total outstanding in

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