Prasol Chemicals gets Sebi approval for Rs 800-cr IPO

Prasol Chemicals, which filed its preliminary IPO papers with the regulator in April, obtained its "observation" letter on August 23, an update with the Securities and Exchange Board of India (Sebi) showed on Monday. Getty I mages Specialty chemical company Prasol Chemicals IPO AHEAD i' has received capital markets regulator Sebi's go- ahead to raise as much as Rs 800 crore through an Initial Public Offering (IPO). The IPO comprises fresh issue of equity shares aggregating up to Rs 250 crore and an Offer-For-Sale (OFS) of up to 90 lakh equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP). Prasol Chemicals, which filed its preliminary IPO papers with the regulator in April, obtained its "obsewation" letter on August 23, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.