Prasol Chemicals Limited IPO

IPO Objects of the IssueThe Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company 60.00 2 General Corporate Purposes Total 60.00

Key Performance Indicator (KPI)KPIMar 31, 2026ROE20.37%ROCE22.43%Debt/Equity0.19RoNW18.53%PAT Margin6.74%EBITDA Margin11.30%NAV77.33Check IPO Peer Comparison here.

IPO RegistrarKfin Technologies Ltd.040-79615565prasol.ipo@kfintech.comVisit Website

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Contact DetailsPrasol Chemicals Ltd. AddressPrasol House, Plot No A - 17/2/3,T. T. C, Industrial Area, Khairne M.I.D.C.,Navi Mumbai,Thane, Maharashtra, 400710+91 22 6195 2500investorservices@prasolchem.comVisit Website

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IPO NewsIPO Alert: Prasol Chemicals Ltd. Set to Hit the Primary Market SoonUpcoming Mainboard IPO Alert: The initial public offering of Prasol Chemicals Ltd. is scheduled to open on Sep 8, 2026.Prasol Chemicals IPO – Key DetailsAccording to the company’s filing,the company aims to raise ₹500.00 crore through a fresh issue of 11.83 lakh shares worth ₹80.00 crore along with existing shareholders selling 62.13 lakh shares worth up to ₹420.00 crore to the public.The IPO is a Book Building Issue. Shares are offered at a price band of ₹643 to ₹676 per share. Given the lot size of 22 shares, Retail investors can bid for a minimum of ₹14,872 while non-institutional investorsSun, Sep 6, 2026Read More

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1.2.6 Budget capital expenditure towards the health sector The trend in health capital expenditure (Capex) in India demonstrates a substantial increase from FY20 to FY21, followed by a decline in FY22 and FY23, with a projected rise in FY25. The significant increase in FY21 can beattributed to the government’s heightened focus on strengthening healthcare infrastructure in response to the COVID-19 pandemic, which necessitated large-scale investments in medical facilities, equipment, and pandemic- related initiatives. The decrease in FY22 and FY23 likely reflects a phase of stabilization post-pandemic, with reduced emergency spending. However, the anticipated increase in FY25 indicates a renewed emphasis on healthcare sector development, driven by rising healthcare demands and ongoing government efforts toward long- term healthcare reforms. Chart 4: Capital expenditure towards the health sector (in crores) Source: Union Budget; Note: A- Actual, R-Revised, B- Budgeted 1.2.7 Trend in Household Savings Household savings in India have grown at an 8.8% CAGR since FY18, reaching Rs. 54.61 billion in FY24, a 9% y-o-y increase. A shift toward physical assets, particularly housing and gold/silver ornaments, reflects a preference for tangible investments amid high inflation and slow growth in monetary assets. This trend is driven by heavy borrowing, especially in housing, auto, and personal loans, leading to a six-year high in household financial liabilities. Savings in mutual funds and life insurance also grew, with an 11.5% and 13.6% y-o-y increase, respectively, while investment in equities and capital market instruments rose as they offer higher returns than bank deposits. Chart 5: Household Savings (at Current Prices) Source: MOSPI

Both public and private sector investments are rising, supported by a favourable monsoon and improving rural demand. Sectoral Developments: Healthcare and Manufacturing Investment in India’s healthcare sector increased sharply during the COVID-19 pandemic. Although spending slowed down afterward, the focus is shifting back to long-term infrastructure and capacity building. Similarly, the manufacturing sector is gaining strength, supported by government policies, a skilled workforce, and an expanding startup ecosystem. India is emerging as a reliable alternative to countries like China and Vietnam in global supply chains. Trade and Export Position India’s lower tariff structure makes it an attractive trade partner. Ongoing discussions with the U.S. and efforts toexpand trade with regions like the EU and ASEAN are helping reduce reliance on any single market. Recent U.S. tariffs are expected to have only a limited effect on India’s exports, with key sectors like pharmaceuticalsremaining unaffected. Overall, India is becoming more competitive in global trade, particularly in sectors like textiles, electronics, auto components, and chemicals. Opportunities for Indian Chemical Manufacturers The Indian chemical industry is well-positioned to benefit from these economic trends. Rising domestic consumption, increased infrastructure and industrial spending, and the growth of key end-user industries such as agriculture, construction, pharmaceuticals, and FMCG are driving demand for specialty and performance chemicals. Export opportunities are also improving as global companies diversify away from China. India's growing reputation as a dependable and cost-effective manufacturing hub, supported by policy incentives like the Production-Linked Incentive (PLI) scheme, is attracting global attention. Private investment in the sector is increasing, and new capacity additions are underway. With both domestic and global demand expected to grow, Indian chemical manufacturers are set to play a larger role in global supply chains. Conclusion Despite global economic headwinds, India’s strong growth outlook, rising investments, and expanding exportpotential offer a promising environment for chemical manufacturers. The sector is expected to benefit from increased consumption, industrial activity, and its growing role as a reliable global supplier of specialty chemicals - 2. Overview of Global Chemicals and Specialty Chemicals Industries 2.1 Global Chemicals Industry Overview Overview and market size The global chemicals industry was valued at approximately $5.7 trillion in 2023, contributing around 7% to global GDP. The industry was valued at $5.9 trillion in 2024. It includes a wide range of products such as basic chemicals, specialty chemicals, and agrochemicals, supporting sectors like manufacturing, agriculture, pharmaceuticals, and consumer goods. The industry has grown at a CAGR of 7% from 2014 to 2024 and is projected to grow at 7%, reaching nearly $8.3 trillion by 2029. Asia-Pacific accounts for over 45% of global production, with China being the largest producer and consumer. Other key countries in the chemical sector include the United States, Germany, Japan, South Korea, and India, which play significant roles in innovation, production, and consumption within the global market.

4.9 Initiatives by the government to boost farm revenue and infrastructure The Government of India has launched several initiatives to enhance farm revenue and strengthen agricultural infrastructure, ensuring sustainable growth and farmer welfare. Below are some key programs: 4.10 Indian Agrochemical Sector Recovery: Trends, Data, and Forecasts Over the past two years, the agrochemicals sector has undergone major disruptions due to a combination ofclimatic, economic, and geopolitical factors. In 2023, El Niño conditions severely impacted India’s monsoon,resulting in a 6% rainfall deficit the lowest since 2018 and the driest August in over a century. This led to subdued agricultural activity and a consequent reduction in agrochemical demand. At the same time, China’s dumping of excess inventory created a global supply glut, driving down prices andcompressing margins. Further, many channel partners and distributors undertook de-stocking measures amid weak

headroom for future growth. For details, see ‘Our Business – Property’ on page294. Going forward,we will continue to periodically review the functioning of our in–house product development strategy, identify scope for expansion and undertake projects to increase our production capabilities. Increased focus on R&D to support complex chemistries, product innovation, import substitution, and forward and backward integration of existing products We are a R&D focussed company with a dedicated focus on developing specialty products that are synergistic with our chemistries, raw materials and customer application industries. Some of our key R&D undertakings in the past have included manufacturing of hydrogenation of ketones, zinc-based coordination complexes, chlorination compounds, condensation and dehydration of ketones and alcohols and vapour phase alkyl rearrangements. We have separate labs for process development activities and process intensification activities. Some examples of process improvements we have undertaken include improvements to fixed bed reactions and adoption of green chemistry by using heterogeneous catalysts. We are also developing a separate application testing laboratory for lubricant additives, construction chemicals and mining chemicals. This laboratory will have specialized equipment which will allow us to test the performance of our products in our customer’s end product and highlight the benefits to our customers using multiple data points. As of July 31, 2025, we had a portfolio of over 150 specialty chemical products which enables us to cater to existing and will enable us to cater to new customers and markets, and a pipeline of 40 products which are at various stages of development (out of which 9 have cleared pilot stage) which we expect will enable us to deepen our engagement with existing customers and garner new customers. For further details on our R&D capabilities including our R&D expenses in 3 months ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, see ‘Our Business - Our Strengths - Well established R&D capabilities driving innovation with strong pipeline of products to address customised customer requirements’ on page278. Our R&D initiatives also enable us to engage in forward integration i.e. developing new molecules using our existing products as raw materials. This presents a strategic opportunity for value addition, market expansion, and enhanced profitability. Increased captive consumption of some of the intermediates will also provide operational leverage by improving plant utilizations. With a view to further strengthen our focus on R&D, we continuously recruit scientists of varied experience and expertise at our R&D centre. We believe our strategic focus on R&D has been critical to our success and a differentiating factor in becoming one of the key suppliers of the specialty additives. Accordingly, we intend to continue to focus on R&D and product innovation to enable us to introduce new products particularly in varied application industries such as mining, lubricants and construction chemicals etc. This will augment our existing portfolio of products. Our R&D initiatives will assist our strategy of backward and forward integration and will enable us to deepen penetration in existing markets and serve as the cornerstone to our success in new markets. Our current infrastructure allows us to expand our product offerings. We intend to diversify our existing product portfolio by adding new products which are synergistic with our existing products and chemistries. Inorganic growth through strategic acquisitions, technology acquisition/licensing or joint ventures We intend to pursue strategic acquisitions and technology partnerships to complement our organic growth and internal expertise. Additionally, we believe that by pursuing strategic acquisitions, we will add to our capabilities and technical expertise or enter partnerships to strengthen our product infrastructure and overall manufacturing capabilities in the specialty chemicals sector. We are also evaluating partnering / forming joint ventures with international chemical companies for technology licensing for manufacturing new specialty chemicals. Increase our geographic reach and global footprint and increase wallet share with existing customers We intend to continue to leverage our direct marketing and distributor network, diversified product portfolio and our industry standing to establish relationships with new export and local customers and expand our customer base. We intend to capture a greater share of our existing customers’ demand for our products by becoming the preferred supplier and by adding more specialised and customised products to our product portfolio. We also intend to engage in cross-selling of our current product portfolio across our spectrum of customers. We have appointed sales channel personnel in Shanghai and London, to enable us to market our products as well as understand the customer needs in these regions. We have also appointed consignment stockist in Houston, United States of America and Rotterdam, Netherlands to hold our products on consignment basis which will assist us in further penetrating in these markets by servicing smaller customers with just in time deliveries. Further, we plan

- - - - d. Gratuity payment as per the Company’s policy In Fiscal 2025, he earned an aggregate compensation of ₹ 25.62 million (including salaries, commission and perquisites). Pankil Nishith Dharia Pankil Nishith Dharia has been a director of our Company since November 15, 2010. Thereafter, pursuant to a resolution passed by the Board on January 18, 2022, he was appointed as a Whole-time Director - Strategy and Business Development of our Company. Pursuant to a shareholders’ resolution dated February 1, 2022, PankilNishith Dharia is entitled to the following remuneration and other employee benefits, in terms of the resolution passed by our Board on February 21, 2025: - a. Remuneration amounting to ₹ 9.95 million per annum; - b. Performance linked bonus, based on up to 0.50% of profit before taxes as may be decided by our Nomination and Remuneration Committee/ Board; - c. Medical reimbursement, Company car and other perquisites/benefits as per Company’s policy; and - d. Gratuity payment as per the Company’s policy - - a. Remuneration amounting to ₹ 4.50 million per annum. - - b. Medical reimbursement, Company car and other perquisites/benefits as per Company’s policy; and - - c. Gratuity payment as per the Company’s policy In Fiscal 2025, he earned an aggregate compensation of ₹ 14.44 million (including salaries, commission, perquisites and an ex-gratia payment). Rakesh Shivaji Jadhav Rakesh Shivaji Jadhav has been appointed as a Whole-Time Director - EHS, Governance & Business Process of our Company pursuant to a resolution passed by the Board on June 18, 2025. Pursuant to a shareholders’ resolutiondated September 17, 2025, he is entitled to the following remuneration and other employee benefits: Since he was appointed in Fiscal 2026, he has not received any remuneration during Fiscal 2025. Non-Executive Directors and Independent Directors Pursuant to the Board resolution dated March 1, 2022, each Non-executive Independent Director, is entitled to receive sitting fees of ₹ 40,000 per meeting for attending meetings of the Board and ₹ 25,000 per meeting forattending meetings of the committees. Details of the payments and benefits to the Non-Executive Independent Directors of our Company in Fiscal 2025 are as follows: (in ₹ million) Our Company has not paid any compensation or granted any benefit on an individual basis to any of our Directors (including contingent or deferred compensation) other than the remuneration paid to them for Fiscal 2025. Shareholding of Directors in our Company Our Articles of Association do not require our directors to hold any qualification shares. The shareholding of the Directors in our Company as of the date of this Draft Red Herring Prospectus is set forth below:

This Draft Red Herring Prospectus contains certain “forward-looking statements”. All statements regarding our expected financial condition and results of operations, business, plans and prospects are forward looking statements, which include statements with respect to our business strategy, our revenue and profitability, our goals and other matters discussed in this Draft Red Herring Prospectus regarding matters that are not historical facts. These forward-looking statements generally can be identified by words or phrases such as “aim”, “anticipate”, “believe”, “can”, “could”, “expect”, “estimate”, “intend”, “may”, “likely”, “objective”, “plan”, “propose”, “project”, “seek to”, “will”, “will achieve”, “will continue”, “will pursue” or other words or phrases of similarimport but are not the exclusive means of identifying such statements. Similarly, statements that describe our strategies, objectives, plans, goals, future events, future financial performance, or financial needs are also forward- looking statements. All forward-looking statements are subject to risks, uncertainties, expectations, and assumptions about us that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements, whether made by us or a third-party, are based on our current plans, estimates, presumptions and expectations and actual results may differ materially from those suggested by forward-looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions about us that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. This could be due to risks or uncertainties associated with our expectations, with respect to but not limited to regulatory changes pertaining to the industries in India in which we operate and our ability to respond to them, our ability to successfully implement our strategy, our growth and expansion, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on its business activities or investments, the monetary and fiscal policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic laws, regulations and taxes and changes in competition in the industries in which we operate. Certain important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the following: - 1. Our business and the demand for our products is reliant on the success of our customers’ products with end consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. - 2. Our business is reliant on certain key customers. Our top 10 customers contributed 23.91%, 21.96%, 18.46% and 23.27% of our total revenue from operations during three month period ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. The loss of any of these customers or loss of revenue from sales to any key customers could have a material adverse effect on our business, financial condition, results of operations and cash flows. - 3. Our business is dependent on our manufacturing facilities and we are subject to certain related risks. 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. - 4. We do not have long-term agreements with most of our suppliers or customers and the loss of one or more of them or a reduction in their demand for our products could adversely affect our business, results of operations, financial condition and cash flows. Further, our inability to accurately forecast demand for our products or manage our inventory or working capital requirements may have an adverse effect on our business, results of operations and financial condition. - 5. We are susceptible to risks arising out of export of our products to 69 countries and with doing business internationally, including international market conditions and regulatory risks. - 6. Our inability to accurately forecast demand for our products and manage our inventory or working capital balances may have an adverse effect on our business, results of operations, cash flows and financial condition.

1.2.6 Budget capital expenditure towards the health sector The trend in health capital expenditure (Capex) in India demonstrates a substantial increase from FY20 to FY21, followed by a decline in FY22 and FY23, with a projected rise in FY25. The significant increase in FY21 can beattributed to the government’s heightened focus on strengthening healthcare infrastructure in response to the COVID-19 pandemic, which necessitated large-scale investments in medical facilities, equipment, and pandemic- related initiatives. The decrease in FY22 and FY23 likely reflects a phase of stabilization post-pandemic, with reduced emergency spending. However, the anticipated increase in FY25 indicates a renewed emphasis on healthcare sector development, driven by rising healthcare demands and ongoing government efforts toward long- term healthcare reforms. Chart 4: Capital expenditure towards the health sector (in crores) Source: Union Budget; Note: A- Actual, R-Revised, B- Budgeted 1.2.7 Trend in Household Savings Household savings in India have grown at an 8.8% CAGR since FY18, reaching Rs. 54.61 billion in FY24, a 9% y-o-y increase. A shift toward physical assets, particularly housing and gold/silver ornaments, reflects a preference for tangible investments amid high inflation and slow growth in monetary assets. This trend is driven by heavy borrowing, especially in housing, auto, and personal loans, leading to a six-year high in household financial liabilities. Savings in mutual funds and life insurance also grew, with an 11.5% and 13.6% y-o-y increase, respectively, while investment in equities and capital market instruments rose as they offer higher returns than bank deposits. Chart 5: Household Savings (at Current Prices) Source: MOSPI

Both public and private sector investments are rising, supported by a favourable monsoon and improving rural demand. Sectoral Developments: Healthcare and Manufacturing Investment in India’s healthcare sector increased sharply during the COVID-19 pandemic. Although spending slowed down afterward, the focus is shifting back to long-term infrastructure and capacity building. Similarly, the manufacturing sector is gaining strength, supported by government policies, a skilled workforce, and an expanding startup ecosystem. India is emerging as a reliable alternative to countries like China and Vietnam in global supply chains. Trade and Export Position India’s lower tariff structure makes it an attractive trade partner. Ongoing discussions with the U.S. and efforts toexpand trade with regions like the EU and ASEAN are helping reduce reliance on any single market. Recent U.S. tariffs are expected to have only a limited effect on India’s exports, with key sectors like pharmaceuticalsremaining unaffected. Overall, India is becoming more competitive in global trade, particularly in sectors like textiles, electronics, auto components, and chemicals. Opportunities for Indian Chemical Manufacturers The Indian chemical industry is well-positioned to benefit from these economic trends. Rising domestic consumption, increased infrastructure and industrial spending, and the growth of key end-user industries such as agriculture, construction, pharmaceuticals, and FMCG are driving demand for specialty and performance chemicals. Export opportunities are also improving as global companies diversify away from China. India's growing reputation as a dependable and cost-effective manufacturing hub, supported by policy incentives like the Production-Linked Incentive (PLI) scheme, is attracting global attention. Private investment in the sector is increasing, and new capacity additions are underway. With both domestic and global demand expected to grow, Indian chemical manufacturers are set to play a larger role in global supply chains. Conclusion Despite global economic headwinds, India’s strong growth outlook, rising investments, and expanding exportpotential offer a promising environment for chemical manufacturers. The sector is expected to benefit from increased consumption, industrial activity, and its growing role as a reliable global supplier of specialty chemicals - 2. Overview of Global Chemicals and Specialty Chemicals Industries 2.1 Global Chemicals Industry Overview Overview and market size The global chemicals industry was valued at approximately $5.7 trillion in 2023, contributing around 7% to global GDP. The industry was valued at $5.9 trillion in 2024. It includes a wide range of products such as basic chemicals, specialty chemicals, and agrochemicals, supporting sectors like manufacturing, agriculture, pharmaceuticals, and consumer goods. The industry has grown at a CAGR of 7% from 2014 to 2024 and is projected to grow at 7%, reaching nearly $8.3 trillion by 2029. Asia-Pacific accounts for over 45% of global production, with China being the largest producer and consumer. Other key countries in the chemical sector include the United States, Germany, Japan, South Korea, and India, which play significant roles in innovation, production, and consumption within the global market.

4.9 Initiatives by the government to boost farm revenue and infrastructure The Government of India has launched several initiatives to enhance farm revenue and strengthen agricultural infrastructure, ensuring sustainable growth and farmer welfare. Below are some key programs: 4.10 Indian Agrochemical Sector Recovery: Trends, Data, and Forecasts Over the past two years, the agrochemicals sector has undergone major disruptions due to a combination ofclimatic, economic, and geopolitical factors. In 2023, El Niño conditions severely impacted India’s monsoon,resulting in a 6% rainfall deficit the lowest since 2018 and the driest August in over a century. This led to subdued agricultural activity and a consequent reduction in agrochemical demand. At the same time, China’s dumping of excess inventory created a global supply glut, driving down prices andcompressing margins. Further, many channel partners and distributors undertook de-stocking measures amid weak

headroom for future growth. For details, see ‘Our Business – Property’ on page294. Going forward,we will continue to periodically review the functioning of our in–house product development strategy, identify scope for expansion and undertake projects to increase our production capabilities. Increased focus on R&D to support complex chemistries, product innovation, import substitution, and forward and backward integration of existing products We are a R&D focussed company with a dedicated focus on developing specialty products that are synergistic with our chemistries, raw materials and customer application industries. Some of our key R&D undertakings in the past have included manufacturing of hydrogenation of ketones, zinc-based coordination complexes, chlorination compounds, condensation and dehydration of ketones and alcohols and vapour phase alkyl rearrangements. We have separate labs for process development activities and process intensification activities. Some examples of process improvements we have undertaken include improvements to fixed bed reactions and adoption of green chemistry by using heterogeneous catalysts. We are also developing a separate application testing laboratory for lubricant additives, construction chemicals and mining chemicals. This laboratory will have specialized equipment which will allow us to test the performance of our products in our customer’s end product and highlight the benefits to our customers using multiple data points. As of July 31, 2025, we had a portfolio of over 150 specialty chemical products which enables us to cater to existing and will enable us to cater to new customers and markets, and a pipeline of 40 products which are at various stages of development (out of which 9 have cleared pilot stage) which we expect will enable us to deepen our engagement with existing customers and garner new customers. For further details on our R&D capabilities including our R&D expenses in 3 months ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, see ‘Our Business - Our Strengths - Well established R&D capabilities driving innovation with strong pipeline of products to address customised customer requirements’ on page278. Our R&D initiatives also enable us to engage in forward integration i.e. developing new molecules using our existing products as raw materials. This presents a strategic opportunity for value addition, market expansion, and enhanced profitability. Increased captive consumption of some of the intermediates will also provide operational leverage by improving plant utilizations. With a view to further strengthen our focus on R&D, we continuously recruit scientists of varied experience and expertise at our R&D centre. We believe our strategic focus on R&D has been critical to our success and a differentiating factor in becoming one of the key suppliers of the specialty additives. Accordingly, we intend to continue to focus on R&D and product innovation to enable us to introduce new products particularly in varied application industries such as mining, lubricants and construction chemicals etc. This will augment our existing portfolio of products. Our R&D initiatives will assist our strategy of backward and forward integration and will enable us to deepen penetration in existing markets and serve as the cornerstone to our success in new markets. Our current infrastructure allows us to expand our product offerings. We intend to diversify our existing product portfolio by adding new products which are synergistic with our existing products and chemistries. Inorganic growth through strategic acquisitions, technology acquisition/licensing or joint ventures We intend to pursue strategic acquisitions and technology partnerships to complement our organic growth and internal expertise. Additionally, we believe that by pursuing strategic acquisitions, we will add to our capabilities and technical expertise or enter partnerships to strengthen our product infrastructure and overall manufacturing capabilities in the specialty chemicals sector. We are also evaluating partnering / forming joint ventures with international chemical companies for technology licensing for manufacturing new specialty chemicals. Increase our geographic reach and global footprint and increase wallet share with existing customers We intend to continue to leverage our direct marketing and distributor network, diversified product portfolio and our industry standing to establish relationships with new export and local customers and expand our customer base. We intend to capture a greater share of our existing customers’ demand for our products by becoming the preferred supplier and by adding more specialised and customised products to our product portfolio. We also intend to engage in cross-selling of our current product portfolio across our spectrum of customers. We have appointed sales channel personnel in Shanghai and London, to enable us to market our products as well as understand the customer needs in these regions. We have also appointed consignment stockist in Houston, United States of America and Rotterdam, Netherlands to hold our products on consignment basis which will assist us in further penetrating in these markets by servicing smaller customers with just in time deliveries. Further, we plan

- - - - d. Gratuity payment as per the Company’s policy In Fiscal 2025, he earned an aggregate compensation of ₹ 25.62 million (including salaries, commission and perquisites). Pankil Nishith Dharia Pankil Nishith Dharia has been a director of our Company since November 15, 2010. Thereafter, pursuant to a resolution passed by the Board on January 18, 2022, he was appointed as a Whole-time Director - Strategy and Business Development of our Company. Pursuant to a shareholders’ resolution dated February 1, 2022, PankilNishith Dharia is entitled to the following remuneration and other employee benefits, in terms of the resolution passed by our Board on February 21, 2025: - a. Remuneration amounting to ₹ 9.95 million per annum; - b. Performance linked bonus, based on up to 0.50% of profit before taxes as may be decided by our Nomination and Remuneration Committee/ Board; - c. Medical reimbursement, Company car and other perquisites/benefits as per Company’s policy; and - d. Gratuity payment as per the Company’s policy - - a. Remuneration amounting to ₹ 4.50 million per annum. - - b. Medical reimbursement, Company car and other perquisites/benefits as per Company’s policy; and - - c. Gratuity payment as per the Company’s policy In Fiscal 2025, he earned an aggregate compensation of ₹ 14.44 million (including salaries, commission, perquisites and an ex-gratia payment). Rakesh Shivaji Jadhav Rakesh Shivaji Jadhav has been appointed as a Whole-Time Director - EHS, Governance & Business Process of our Company pursuant to a resolution passed by the Board on June 18, 2025. Pursuant to a shareholders’ resolutiondated September 17, 2025, he is entitled to the following remuneration and other employee benefits: Since he was appointed in Fiscal 2026, he has not received any remuneration during Fiscal 2025. Non-Executive Directors and Independent Directors Pursuant to the Board resolution dated March 1, 2022, each Non-executive Independent Director, is entitled to receive sitting fees of ₹ 40,000 per meeting for attending meetings of the Board and ₹ 25,000 per meeting forattending meetings of the committees. Details of the payments and benefits to the Non-Executive Independent Directors of our Company in Fiscal 2025 are as follows: (in ₹ million) Our Company has not paid any compensation or granted any benefit on an individual basis to any of our Directors (including contingent or deferred compensation) other than the remuneration paid to them for Fiscal 2025. Shareholding of Directors in our Company Our Articles of Association do not require our directors to hold any qualification shares. The shareholding of the Directors in our Company as of the date of this Draft Red Herring Prospectus is set forth below:

An investment in equity shares involves a high degree of risk. You should carefully consider each of the following risk factors together with all other information set forth in this Draft Red Herring Prospectus, including the risks and uncertainties described below, before making an investment in the Equity Shares. The risks and uncertainties described below are not the only risks that we currently face or are relevant to us, our Equity Shares, the industry in which we operate or to India or the other geographies in which we sell our products. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business, prospects, results of operations, cashflows and financial condition. In order to obtain a completeunderstanding about us, investors should read this section in conjunction with “Our Business”, “Industry Overview”, and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” onpages274,200 and416, respectively, as well as the financial statements, including the notes thereto, and other financial information included elsewhere in this Draft Red Herring Prospectus. If any or some combination of the following risks, or other risks that are not currently known or believed to be adverse, actually occur, our business, results of operations, cashflows and financial condition could suffer, the trading price of, and the trading price of the Equity Shares could decline, and you may lose all or part of your investment. In making an investment decision with respect to this Offer, you must rely on your own examination of our Company, our business, and the terms of this Offer, including the merits and risks involved and you should consult your tax, financial and legal advisors about the particular consequences to you of an investment in the Equity Shares. Prospective investors should pay particular attention to the fact that our Company is incorporated under the laws of India and is subject to a legal and regulatory environment, which may differ in certain respects from that of other countries. This Draft Red Herring Prospectus also contains forward-looking statements that involve risks, assumptions, estimates and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the considerations described below and elsewhere in this Draft Red Herring Prospectus. See “Forward-Looking Statements” onpage35. Unless otherwise stated or the context otherwise requires, the financial information used in this section is derivedfrom our Restated Financial Information. For further details, please see “Restated Financial Information” onpage342. Unless otherwise indicated, industry and market data used in this section has been derived from industry publications, in particular, the report titled ‘Industry Report on Speciality Chemicals Sector’ dated October 7, 2025 (CARE Report), prepared and issued by CARE, exclusively commissioned and paid for by our Company in connection with the Offer. Unless otherwise indicated, all financial, operational, industry and other related information derived from the CARE Report and included herein with respect to any particular year, refers to such information for the relevant calendar year. CARE was appointed by our Company and is not connected to our Company, our Directors, our Promoters, our Key Managerial Personnel, Senior Management or BRLM. A copy of the CARE Report is available on the website of our Company at https://prasolchem.com/investor-relations/. For further information, see ‘Risk Factor - Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company’ on page71. Also see ‘Certain Conventions, Presentation of Financial, Industry and Market Data and Currency of Presentation’ on page32. Internal Risk Factors - 1. Our business and the demand for our products is reliant on the success of our customers’ products withend consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. We are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries and our revenue is attributable to (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care (Application Industries). Set out below is our product offering along with the revenue generated, in terms of percentage of the revenue from operations, from each of our product categories, in the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: - -

*Includes non-acetone and non-phosphorous based customised specialty chemicals such as surfactants, performance additives, ethers, esters, polymers, and acids. #Comprises job work sales, commissions, scrap sales and other operating income. We do not experience customer concentration risk and we serviced 1,015, 1,586, 1,560 and 1,597 customers during the three month period ended June 30, 2025 and during Fiscals 2025, 2024 and 2023, respectively. Further, for the three month period ended June 30, 2025 and during Fiscals 2025, 2024 and 2023, none of our customers contributed to more than 5.00% of our total income individually. Since we operate on a business to business to consumer (B2B2C) model, the demand for our products and margin of our products is dependent on and directly affected by factors affecting the industries we cater to. For key threats andchallenges affecting pharmaceuticals, home and personal care and performance chemicals, see ‘Industry Overview - Key Threats and Challenges’ on page272. Consequently, any reduction in demand or a temporary or permanent discontinuation of manufacturing of products on account of breakthrough in the development or invention of alternate formulations, may expose us to the risk of our products becoming obsolete or being substituted by such alternatives. Any failure on our part to effectively address such situations or to successfully introduce alternate products or the shifting of the practice in these industries towards developing substitutes of our products could adversely affect our business, results of operations, financial condition and cash flows. In addition, a slowdown in demand for our existing products ahead of a new product introduction could result in a write down in the value of inventory on hand related to existing products. Before we can introduce a new product, we must successfully execute a number of steps that involve a significant lead time, including successful research and development, obtaining the requisite regulatory approvals and registrations, customizing our production capacities, scaling our vendor, production and infrastructure networks, getting relevant customer approval post undertaking their audit processes and effective marketing strategies. Our failure to effectively adapt to the situations or to successfully introduce new products or new applications, under unpredicted circumstances could adversely affect our business, results of operations and financial condition as we have in the past experienced a slowdown in the demand for our products and delays in new product development. Such slowdowns and delays may occur in the future. Resultantly, if our customers, defer or cancel orders for our existing products, due to introduction of substitute products, which are more suitable and preferred options, our operating results would be adversely affected. - 2. Our business is reliant on certain key customers. Our top 10 customers contributed 23.91%, 21.96%, 18.46% and 23.27% of our total revenue from operations during three month period ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. The loss of any of these customers or loss of revenue from sales to any key customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.

- 5. We are susceptible to risks arising out of export of our products to 69 countries and with doing business internationally, including international market conditions and regulatory risks. During the period from April 01, 2022 to June 30, 2025, we have exported our products to 69 countries globally. We have appointed two sales channel personnel, one each in Shanghai and London, so as to enable us to market our products as well as understand the customer needs in these regions. These personnel are not the employees of our Company and have been engaged to provide services in relation to international marketing of our products and the services, on a non – exclusive basis and on an agreed fee, with effect from August 1, 2019 and January 16, 2016, respectively, in terms of the engagement letters issued by our Company to these personnel. Set out below is a break-up of our revenue from domestic sales and export of our products during the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: There are a number of risks in doing business abroad such as risks with respect to interest rate and foreign currency fluctuations, different tax and regulatory environments (particularly with respect to the nature of our products), changes in social, political and economic conditions, the need to recruit personnel combining product skills and local market knowledge, obtaining the necessary clearances and approvals to set up business and competing with established players in these regions and cost structures in international markets, including those in which we operate, that are significantly different from those that we have experienced inIndia. For instance, we export to countries such as Russia and Belarus, amounting to ₹ 113.01 million, ₹671.45 million, ₹ 188.64 million and ₹ 297.99 million which constituted 3.53 %, 6.61%, 2.13% and 3.20%of our total income for three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively. However, our exports to these countries may not likely get impacted in spite of the ongoing conflict between these countries due to the revenue contributed by these countries as compared to our total revenue being insignificant. Set out below is a break-up of our revenue from export of our products from our top 5 countries during the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: We also require various approvals, licenses, registrations and permissions for supplying our products to our overseas customers such as the REACH registration with European Chemicals Agency and other similar registrations with regulatory bodies of various countries. Authorities in different jurisdictions may impose their own requirements or delay or refuse to grant approval, even when our product has already been approved in another country. While, in the past we have not faced any non – compliance of any regulatory requirements, in case we fail to comply with applicable statutory or regulatory requirements in the future, there could be a delay in the submission or grant of approval for marketing new products. Additionally, the approval process for a new product is complex, lengthy and expensive in the international markets into which we sell our products. The time taken to obtain approval varies from country to country, and is significantly dependent on that particular country, the customers and the nature of the products for which approval is sought. Further, there may be certain developments in the industries in which our customers operate which in turn may have

an impact on our sales from exports. There may be imposition of certain tariffs, quotas and other tariff and non-tariff trade barriers on our products in jurisdictions in which we operate or seek to sell our products and we may face trade restrictions in the jurisdictions we operate including the European countries, among others. These risks may impact our ability to expand our exports in different regions and otherwise achieve our objectives relating to our export operations. Expansion into a market outside of our current operation could require significant investment and operating expenditures and have a material effect on our capital structure. If we pursue an international expansion opportunity, we could face internal or external risks, including, without limitation compliance with multiple and potentially conflicting foreign laws and regulations, import and export limitations and limits on the repatriation of funds. We may be unsuccessful in developing and implementing policies and strategies that will be effective in managing these risks in each country where we have business operations. Our failure to manage these risks successfully could adversely affect our business, operating results and financial condition. Furthermore, we may face competition in other countries from companies that have more experience with operations in such countries or with international operations generally. If we are unable to successfully develop or manage our international operations, it may limit our ability to grow our international business. Further, the countries where we export our products may impose varying duties on our products. We cannot assure you that the duties imposed by such countries will not increase in the future. India is also a party to, and is currently negotiating, free trade agreements with several countries and if we export our products to such countries, any revocation or alteration of those bilateral agreements may adversely affect our ability to export our products. Additionally, export destination countries may also enter into free trade agreements or regional trade agreements with countries other than India. Such agreements and alteration of existing tax treaties may lead to increased competition or may even place us at a competitive disadvantage compared to manufacturers in other countries and could adversely affect our business, results of operations, financial condition and cash flows. - 6. Our inability to accurately forecast demand for our products and manage our inventory or working capital balances may have an adverse effect on our business, results of operations, cash flows and financial condition. We conduct business with our customers primarily on the basis of purchase orders that are placed from time to time and we do not enter into any long term agreements with our customers. Consequently, there is no commitment on the part of such customers to continue to place new purchase orders with us and as a result, our revenue and consequent cash flow may fluctuate significantly from time to time. The fluctuation in demand for our products may either require us to increase production or decrease production and inventories at short notice, which may result in us bearing additional costs and incurring losses. While we maintain a reasonable level of inventory of raw materials, work in progress and finished goods, if we underestimate demand or have inadequate capacity due to which we are unable to meet the demand for our products, we may end up manufacturing lesser quantities of products than required, which could result in the loss of business. Similarly, an error in our forecast could also result in surplus stock, which may not be sold in a timely manner or at all. At times when we have overestimated demand, we may have incurred costs to build capacity or purchased more raw materials and manufactured more products than required. Our inability to accurately forecast demand for our products and manage our inventory may have an adverse effect on our business, results of operations, cash flows and financial condition. We evaluate our inventory balances of materials based on shelf life, expected sourcing levels, known uses and anticipated demand based on forecasted customer order activity and changes in our product sales mix. Efficient inventory management is a key component of the success of our business, results of operations and profitability. To be successful, we must maintain sufficient inventory levels and an appropriate product salesmix to meet our customers’ demands, without allowing those levels to increase to such an extent that the costs associated with storing and holding other inventory adversely affects our results of operations. If our raw materials purchase decisions do not accurately predict sourcing levels, or if our estimation of customer requirements and trends are inaccurate, we may have to take unanticipated markdowns or impairment charges to dispose of the excess or obsolete inventory, which can adversely affect our results of operations. Our working capital requirements may increase if payment terms shift to payments on completion of delivery or otherwise increase our working capital burdens. Our current term of payment is between 30 – 90 days. In few instances our Company is required to be paid at the time of placing the order, the amount of which varies from customer to customer. In addition, our working capital requirements have increased in recent years due

to the general growth of our business and due to delays in receipt of payment by customers. Also see, ‘Risk Factors - Our business is working capital intensive. If we experience insufficient cash flows from our operations or are unable to borrow to meet our working capital requirements, it may materially and adversely affect our business and results of operations’ on page52. If a customer defaults in making its payment on a product to which we have devoted significant resources, it may also affect our profitability and liquidity and decrease the capital resources that are otherwise available for other uses. For instance, our Company has filed 3 complaints against customers before various judicial forums for the violation of Section 138 of Negotiable Instruments Act, 1881 and the recovery of amounts due to our Company for which the cheques issued in favour of our Company by the customers have been dishonoured. The total pecuniary value involved in allthese matters aggregates to approximately ₹ 8.61 million. The matters are currently pending. For details, see‘Outstanding Litigation and Other Material Developments – Litigation involving our Company - Litigation Initiated by our Company - Criminal Proceedings’ on page436. All of these factors may result in increases in our working capital requirements. If we are unable to finance our working capital needs, or secure other financing when needed, on acceptable commercial terms or at all, it may adversely affect our business, growth prospects and results of operations. - 7. Our operations depend on the availability of timely and cost-efficient transportation and other logistic facilities and any prolonged disruption may adversely affect our business, results of operations, cash flows and financial conditions. Our operations depend on the timely transport of raw materials to our manufacturing facilities and of our products to our customers. We have not experienced third party transporter concentration risk for the three month period June 30, 2025 and for Fiscals 2025, 2024 and 2023. We had employed services of 69, 99, 97 and 104 third party transporters during the three month period ended June 30, 2025 and during Fiscals 2025, 2024 and 2023, respectively. The freight and handling charges paid to our top five third-party transporterswas ₹ 18.93 million, ₹ 85.38 million, ₹ 68.31 million and ₹ 134.14 million, constituting 27.66%, 34.06%, 37.82% and 50.70% of our total freight and handling charges, for the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively. Our outward freight, handling and other sales anddistribution expenses were ₹ 84.70 million, ₹ 276.35 million, ₹ 220.30 million and ₹ 310.24 millionconstituting 2.64%, 2.72%, 2.48% and 3.33% of our total income for the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively. We use a combination of land and water transport and typically rely on third party transportation providers for such purposes, which are subject to various bottlenecks and other hazards beyond our control, including customs, weather, strikes or civil disruptions. We may experience disruption in the transportation of raw materials by ship and delivery of the products to our customers due to bad weather conditions. For instance, our Company experienced disruption for a certain period, in manufacturing and supply of the specialty products to the customers on account of floods in the Mahad, Maharashtra in the year 2021. Further, unexpected delays due to delays in obtaining customs clearance for raw materials imported by us or products exported by us, or increases in transportation costs, could significantly decrease our ability to make sales and earn profits. Any failure to deliver our products to our customers in an efficient, reliable and timely manner could have an adverse effect on our business, results of operations, cash flows and financial conditions. - 8. Any increase in the cost of our raw material or other purchases or a shortfall in the supply of our raw materials, may adversely affect the pricing and supply of our products and have an adverse effect on our business, results of operations and financial condition. The success of our operations depends on a variety of factors, including our ability to source raw materials at competitive prices. For the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, ourcost of raw materials amounted to ₹ 1,705.29 million, ₹ 6,075.99 million, ₹ 5,174.02 million, and ₹ 4,877.20million, respectively constituting 59.28%, 63.54%, 60.99% and 55.78%, respectively, of our total expenses. The major raw materials required by our Company for the manufacturing of our products is acetone andyellow phosphorous. The average price of acetone (i) increased by 21.20% from ₹ 61.56 per kg in Fiscal 2023 to ₹ 74.61 per kg in Fiscal 2024, (ii) increased by 9.65% from ₹ 74.61 per kg in Fiscal 2024 to ₹ 81.81 per kgin Fiscal 2025, and (iii) decreased by 19.47% to ₹ 65.88 per kg for the three month period ended June 30, 2025 from ₹ 81.81 per kg in Fiscal 2025. Further, the prices of yellow phosphorus (i) decreased by 31.41% from ₹ 486.71 per kg in Fiscal 2023 to ₹ 333.83 per kg in Fiscal 2024, (ii) decreased by 2.58% from ₹ 333.83 per kg in Fiscal 2024 to ₹ 325.21 per kg in Fiscal 2025, and (iii) increased by 8.14% to ₹ 351.70 per kg for the three month period ended June 30, 2025 from ₹ 325.21 per kg in Fiscal 2025. Raw material supply and pricing can be volatile due to a number of factors beyond our control, including demand and supply, general economic and political conditions, transportation and labour costs, natural disasters, pandemic, competition

* To the extent quantifiable Our Group Companies are also not involved in any litigations which have a material impact on our Company. For further details on the outstanding litigation see ‘Outstanding Litigation and Other Material Developments’ at page434. We cannot assure you that these legal proceedings will be decided in favour of our Company, our Promoters, and our Directors, as the case may be, or that no further liability will arise out of these proceedings. The amounts claimed in these proceedings have been disclosed to the extent ascertainable and include amounts claimed jointly and severally. If any new developments arise, such as change in Indian law or rulings against us by appellate courts or tribunals, we may need to make provisions in our financial statements that could increase our expenses and current liabilities. Further, such legal proceedings could divert management time and attention and consume financial resources. Any adverse outcome in any of these proceedings may have an adverse effect on our results of operations and financial condition. - 24. Our inability to manage the expansion of our products range and manufacturing capacities and execute our growth strategy in a timely manner or within budget estimates, or our inability to meet the expectations to track the changing preferences of our customers or other stakeholders could have an adverse effect on our business, results of operations and financial condition. Our inability to manage the expansion of our products range and manufacturing capacities and execute our growth strategy in a timely manner or within budget estimates, or our inability to meet the expectations to track the changing preferences of our customers or other stakeholders could have an adverse effect on our business, results of operations and financial condition. Our current growth strategies include: (i) debottlenecking and expanding our production capacities for existing product portfolio; (ii) increasing focus on R&D to support complex chemistries, product innovation, import substitution, and forward and backward integration of existing products; (iii) inorganic growth through strategic acquisitions, technology acquisition/licensing or joint ventures; (iv) increasing our geographic reach and global footprint and increasing wallet share with existing customers; (v) continuing to focus on turnaround of our greenfield investment in Mahad Manufacturing Facility to increase our profitability; and (vi) continuing to improvefinancial performance through focus on operational and functional efficiencies. For details, see ‘Our Business– Our Strategies’ on page283. Our future prospects will depend on our ability to grow our business and operations, which could be affected by many factors, including our ability to introduce and innovate new products and maintain the quality of our products, general political and economic conditions in the geographies in which we operate, government policies or strategies in respect of specific industries, prevailing interest rates, price of equipment and raw materials, energy supply and currency exchange rates. - 25. We require a number of approvals, licences, registrations and permits to operate our business and the failure to obtain or renew these licences in a timely manner, or at all, may have an adverse effect on our business, results of operations and financial condition. Our business operations require us to obtain and renew, from time to time, certain approvals, licenses, registrations and permits under central, state and local government rules in India, generally for carrying out our business and for our manufacturing facilities. A majority of these approvals are granted for a limited duration. While we are required to obtain a number of approvals for legally conducting our business operations and we shall submit the applications for renewal of such approvals, as and when required, during the course of our business operations, we cannot assure you that we will be able to obtain approvals in respect of such applications, or any application made by us in the future. If we fail to obtain such registrations and licenses or renewals, in a timely manner, we may not then be able to carry on certain operations of our business, which may have an adverse effect on our business, financial condition and results of operations. As

1. Insurable assets includes property, plant and equipment, inventories and capital work in progress. 2. Uninsurable assets includes goodwill, other intangible assets, security deposits given, receivable from related parties, receivable from third parties, balance with government authorities, trade receivables, cash and cash equivalents, Bank balance other than cash and cash equivalents, Investments, deferred tax assets (net) For details in relation to product liability claims, see “Risk Factors – We are susceptible to product liability claims, which may require substantial expenditure and may adversely affect our reputation and if successful, could require us to pay substantial sums” on page58. While we believe that the insurance coverage which we maintain would be reasonably adequate to cover the normal risks associated with the operation of our business, to the extent that we suffer loss or damage, for which we have not obtained or maintained insurance, or which is not covered by insurance, which exceeds our insurance coverage or where our insurance claims are rejected, the loss would have to be borne by us and our results of operations and financial condition could be adversely affected. In addition, our insurance policies expire from time to time and we may not be able to renew our policies in a timely manner, or at acceptable cost. We cannot assure you that, in the future, any claim under the insurance policies maintained by us will be honoured fully, in part or on time, or that we have taken out sufficient insurance to cover all our losses. Further, an insurance claim once made could lead to an increase in our insurance premium, result in higher deductibles and also require us to spend towards addressing certain covenants specified by the insurance companies. - 33. Failure to anticipate customer preferences and requirements including by our customers in their Application Industries, and to identify changes in consumer preferences, evolving consumer requirements could adversely affect our business, prospects, results of operations and financial condition. The success of our business depends upon the ability to anticipate customer preferences and requirements, including by our customers in their Application Industries, and our ability to offer customised products that our customers require. We constantly seek to develop our research and development capabilities to distinguish ourselves from our competitors by enabling us to introduce new products and different variant of our existing products, based on consumer preferences and demand. Although we seek to identify such trends and introduce new products after testing such products, we cannot assure you that our products would gain customer acceptance. Further, there can be no assurance that the lack of demand from any one of these industries can be offset by sales to other industries in which our products find application. Further, the demand for our products may decline due to the increase in competition, regulatory action, pricing pressures and/or fluctuations of demand and supply. If our competitors are able to improve the efficiency of their manufacturing process or their distribution or raw materials sourcing process and thereby offer their products at lower price, we may not be able to reduce our gross margin to retain customers by offering our products at lower prices. Our failure to effectively react to these situations or to successfully introduce new products or new applications, under such circumstances, could adversely affect our business, prospects, results of operations and financial condition. - 34. Our inability to meet our obligations, including financial and other covenants under our debt financing arrangements could adversely affect our business, results of operations and cash flows.

In addition, the policies of the RBI may also change from time to time, which may limit our ability to effectively hedge our foreign currency exposures and may have an adverse effect on our results of operations and cash flows. Any such losses on account of foreign exchange fluctuations may adversely affect our results of operations and cash flows. Certain markets in which we sell our products may be subject to foreign exchange repatriation and exchange control risks, which may result in either delayed recovery or even non- realization of revenue. - 39. We have certain contingent liabilities and commitments, which, if materialized, may affect our financial condition and results of operations. Our contingent liabilities and commitments as of June 30, 2025 were as follows: (₹ in million) For further details of the contingent liabilities and commitments of our Company as on June 30, 2025, see‘Restated Financial Information – Note No. 35 - Contingent Liabilities’ and ‘Restated Financial Information– Note No. 36 - Commitments’ on page 390. If a significant portion of these liabilities materialize, it could have an effect on our results of operations and financial condition. Further, there can be no assurance that we will not incur similar or increased levels of contingent liabilities in the future. - 40. Our operations are labour intensive, and our manufacturing operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers. Our operations are labour intensive and we are dependent on a large labour force for our manufacturing operations. As a part of our employee compensation, we incur various costs, including salaries, wages and bonus, staff welfare expenses, gratuity expense and contribution to provident and other funds. Due to economic growth in the past and the increase in competition for skilled and semi-skilled employees in India, wages in India have, in recent years been increasing at a fast rate. As of July 31, 2025, we had 656 permanent employees, and we engaged 180 persons on contract basis. The table below sets out our employee benefit expenses, labour charges and such expenses as a percentage of our total expenses in three months ended June 30, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023:

* We have been unable to trace all the filings, and other records, in relation to changes in our issued, subscribed and paid-up share capital. Accordingly, disclosures in relation to certain changes in our issued, subscribed and paid-up share capital have been made in reliance of (i) share allotments and share transfer registers, and (ii) certificate dated October 14, 2025 from DevendraVasant Deshpande, proprietor of DVD & Associates, the Practicing Company Secretary. Please also see “Risk Factors – Our Company was incorporated in 1992 and some of our corporate records relating to changes in the share capital of our Company such as buy-back of equity shares and transfers, acquisitions of Equity Shares made by our Promoters, and appointment /re- appointment of Directors, are not traceable” on page54. ** Our Company pursuant to a resolution passed by our shareholders’ dated June 23, 2016, approved consolidation of our authorised, issued, subscribed and paid-up share capitalfrom ₹ 31,000,000, divided into 3,100,000 equity shares of face value of ₹ 10 each to ₹ 3,100,000, divided into 310 equity shares of face value of ₹ 100,000 each. However, the aforesaid corporateaction was subsequently rescinded by our Company pursuant to a resolution passed by our shareholders’ dated November 3, 2016 and has consequently not been given effect to. *** The equity shares allotted were partly paid-up at the time of allotment and were subsequently fully paid-up. The partly paid up shares issued in Fiscal 1995 were fully paid up in Fiscal 1995, and the partly paid up shares issued in Fiscal 2012 were fully paid up in Fiscal 2013. $ The allotment includes initial subscription of 100 equity shares each by Nishith Rajnikant Shah, Tushar Natverlal Dharia and Sunil Shantilal Thakkar pursuant to the Memorandum of Association. & Date of extinguishment of equity shares

* We do not have all the forms and/or corporate resolutions for the period of directorship of the directors. For further details,please see “Risk Factors – Our Company was incorporated in 1992 and some of our corporate records relating to changes in the share capital of our Company such as buy-back of equity shares and transfers, acquisitions of Equity Shares made by our Promoters, and appointment /re-appointment of Directors, are not traceable” on page54. ** Nishith Rajnikant Shah was appointed as the Chairman of our Company pursuant to a board resolution dated February 24, 2022. Brief Profiles of our Directors Nishith Rajnikant Shah is the Chairman and Whole-time director of our Company. He holds a bachelor’s degree in science from California State University, Northridge and master’s degree in engineering from the CaliforniaPolytechnic State University, USA. He was associated with Heatreaters and Engineers, Heat Fabs and Pratech Brands Private Limited. He has around 35 years of experience in the chemical industry. He has been associated with our Company as a director since its incorporation and is one of the founders of our Company. He oversees the overall strategy and vision of our Company. Gaurang Natwarlal Parikh is the Managing Director of our Company. He holds a bachelor’s degree in engineering, in chemical branch from University of Pune and a master’s of science in chemical engineering fromthe University of Toledo, USA. Prior to joining our Company, he was associated with Owens Brockway, Rostone Corp and The Budd Company, USA. He has been associated with our Company as a director since August 9, 2001. He has around 24 years of experience in the chemical industry. He oversees business development and R&D. Dhaval Nalin Parikh is a Joint-Managing Director of our Company. He holds a bachelor’s degree in technology (Polymer technology) from Institute of Chemical Technology, from University of Mumbai, India, and a master’sof science in engineering (Plastics engineering) from University of Massachusetts, Lowell, USA. Prior to joining our Company, he was associated with GE Plastics, USA. He has around 18 years of experience in the chemicals industry. He oversees international sales and manufacturing operations. Pankil Nishith Dharia is a Whole-time Director – Strategy and Business Development of our Company. He holdsa bachelor’s degree in electrical engineering and a bachelor’s degree in science in Liberal Arts and Sciences fromUniversity of Illinois at Urbana Champagne (UIUC). Prior to joining our Company, he was associated with Medtronic Inc, USA. He has around 14 years of experience in chemicals industry. He oversees business development, information technology and supply chain management. Rakesh Shivaji Jadhav is a Whole-time Director - EHS, Governance & Business Process of our Company. Heholds a bachelor’s degree in Computer Application from Directorate of Distance Education, Madurai Kamraj University. He has also completed an Executive Certificate Programme in General Management from the Indian Institute of Management, Indore. He also holds a diploma in Computer Management from Datapro Infoworld Ltd. and has completed Microsoft-authorised training in Windows, Word, Excel and FoxPro Programming. He is a Certified Information Systems Auditor (CISA), accredited by ISACA. Prior to joining our Company, he was associated with Nitya Computers, MRC Logistics Private Limited, LP Logiscience LLP and Elde Info Solutions Private Limited. He has around 22 years of experience in information and technology industry. Lakshmi Kantam Mannepalli is a Non-Executive Independent Director of our Company. She holds a bachelor’s degree in science from Andhra University, and a master’s degree and PhD in chemistry from KurukshetraUniversity. Prior to joining our Company, she was associated as a director with Council of Scientific and Industrial Research – Indian Institute of Chemical Technology, Hyderabad and Godavari Biorefineries Limited. She is currently working as Dr. B.P. Godrej Distinguished Professor of Green Chemistry and Sustainability Engineering at the Institute of Chemical Technology. She has also been elected as a fellow of the Indian National Science

- - 2. To review financial results and related information and disclosure of financial information relating to the Company to ensure that the financial statements are correct, sufficient and credible; - 3. To approve or modify any related party transactions, to review internal financial controls and risk management system; - 4. To formulate policy on related party transactions, which shall include materiality of related party transactions; - 5. To review, at least on a quarterly basis, the details of related party transactions entered into by the Company pursuant to each of the omnibus approvals given; - 6. To recommend appointment, re-appointment, replacement, remuneration and terms of appointment of auditors of the Company and the fixation of the audit fee; - 7. To review and evaluate with the management performance of statutory and internal auditors, effectiveness of audit process and adequacy of the internal control systems; - 8. To review and monitor the statutory auditor’s independence and performance, and effectiveness of auditprocess; - 9. Approval of payment to statutory auditors for any other services rendered by the statutory auditors of the Company; - 10. Reviewing, with the management, the annual financial statements and auditor's report thereon before submission to the Board for approval, with particular reference to: - - i. Matters required to be included in the Director's responsibility statement to be included in theBoard’s report in terms of clause (c) of sub-section 3 of Section 134 of the Companies Act as amended from time to time; - - ii. Changes, if any, in accounting policies and practices and reasons for the same; - - iii. Major accounting entries involving estimates based on the exercise of judgment by management; - - iv. Significant adjustments made in the financial statements arising out of audit findings; - - v. Compliance with listing and other legal requirements relating to financial statements; - - vi. Disclosure of any related party transactions; and - - vii. Modified opinion(s) in the draft audit report. - 11. Reviewing, with the management, the quarterly, half-yearly and annual financial statements before submission to the Board for approval; - 12. Reviewing, with the management, the statement of uses/ application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilised for purposes other than those stated in the offer document/ prospectus/ notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, or preferential issue or qualified institutions placement and making appropriate recommendations to the Board to take up steps in this matter. This also includes monitoring the use/application of the funds raised through the proposed initial public offer by the Company; - 13. Approval or any subsequent modifications of transactions of the Company with related parties and omnibus approval for related party transactions proposed to be entered into by the Company, subject to the conditions as may be prescribed; - - - - - - - - - - - - - - - - - - -

- 2. To ensure that appropriate methodology, processes and systems are in place to monitor and evaluate risks associated with the business of the Company; - 3. To periodically review the risk management policy, at least once in two years, including by considering the changing industry dynamics and evolving complexity and recommend for any amendment or modification thereof, as necessary; - 4. To keep the Board informed about the nature and content of its discussions, recommendations and actions to be taken; - 5. The appointment, removal and terms of remuneration of the Chief Risk Officer (if any) shall be subject to review by the Risk Management Committee; - 6. To implement and monitor policies and/or processes for ensuring cyber security; - 7. To consider the effectiveness of decision making process in crisis and emergency situations; - 8. To generally, assist the Board in the execution of its responsibility for the governance of risk; - 9. To frame, devise and monitor risk management plan and policy of the Company, including evaluating the adequacy of risk management systems; - 10. To review and recommend potential risk involved in any new business plans and processes; - 11. To review the Company’s risk-reward performance to align with the Company’s overall policyobjectives; - 12. Monitor and review regular updates on business continuity; - 13. The Risk Management Committee shall have powers to seek information from any employee, obtain outside legal or other professional advice and secure attendance of outsiders with relevant expertise, if it considers necessary - 14. The Risk Management Committee shall coordinate its activities with other committees, in instances where there is any overlap with activities of such committees, as per the framework laid down by the board of directors; - 15. Advise the Board with regard to risk management decisions in relation to strategic and operational matters such as corporate strategy; and - 16. Performing such other activities as may be delegated by the Board or specified/ provided under the Companies Act, 2013, as amended, or by the SEBI Listing Regulations or statutorily prescribed under any other law or by any other regulatory authority. ![A diagram of a diagram AI-generated content may be incorrect.]() - - - -

There are significant differences between Ind AS, U.S. GAAP and IFRS. Please see ‘Risk Factor – Significant differences exist between Ind AS and other accounting principles, such as U.S. GAAP and IFRS, which may be material to the Restated Financial Information prepared and presented in accordance with SEBI ICDRRegulations contained in this Draft Red Herring Prospectus’ on page71. Our Company does not provide reconciliation of its financial information to IFRS or U.S. GAAP. Our Company has not attempted to explain those differences or quantify their impact on the financial data included in this Draft Red Herring Prospectus and it is urged that you consult your own advisors regarding such differences and their impact on our financial data. Accordingly, the degree to which the financial information included in this Draft Red Herring Prospectus will provide meaningful information is entirely dependent on the reader’s level of familiarity with Indian accountingpolicies and practices, the Companies Act, Ind AS, and the SEBI ICDR Regulations. Any reliance by persons not familiar with Indian accounting policies and practices on the financial disclosures presented in this Draft Red Herring Prospectus should, accordingly, be limited. In this Draft Red Herring Prospectus, any discrepancies in any table between the total and the sums of the amounts listed are due to rounding off. Except as stated otherwise, all figures in decimals have been rounded off to the second decimal and all percentage figures have been rounded off to two decimal places. In certain instances, (i) the sum or percentage change of such numbers may not conform exactly to the total figure given; and (ii) the sum of the numbers in a column or row in certain tables may not conform exactly to the total figure given for that column or row. Any figures sourced from third-party industry sources may be rounded off to other than two decimal points to conform to their respective sources. Currency and Units of Presentation In this Draft Red Herring Prospectus, unless the context otherwise requires, all references to (a) ‘Rupees’ or ‘₹’ or ‘Rs.’ or ‘INR’ are to Indian Rupees, the official currency of the Republic of India; (b) ‘US Dollars’ or ‘US$’ or ‘USD’ or ‘$’ are to United States Dollars, the official currency of the United States of America. Our Company has presented certain numerical information in this Draft Red Herring Prospectus in ‘million’ units,or in absolute number where the number have been too small to present in million unless as stated, otherwise, as applicable. 1 million represents ‘10 lakhs’ or 1,000,000. However, where any figures that may have been sourcedfrom third-party industry sources are expressed in denominations other than million, such figures appear in this Draft Red Herring Prospectus expressed in such denominations as provided in their respective sources. Any percentage amounts, as set forth in ‘Risk Factors’, ‘Our Business’, ‘Management’s Discussion and Analysis of Financial Conditions and Results of Operations’ on pages37,274, and416 and elsewhere in this Draft Red Herring Prospectus, unless otherwise indicated, have been calculated based on our Restated Financial Information. Exchange Rates This Draft Red Herring Prospectus contains conversion of certain other currency amounts into Indian Rupees that have been presented solely to comply with the SEBI ICDR Regulations. These conversions should not be construed as a representation that these currency amounts could have been, or can be converted into Indian Rupees, at any particular rate or at all. The following table sets forth, for the periods indicated, information with respect to the exchange rate referred to for the purpose of conversion of foreign currency amounts into Rupee amounts between the Rupees and USD: (In ₹) Source: RBI reference rate and[www.fbil](http://www.fbil/).org.in Note: If the reference rate is not available on a particular date due to a public holiday, exchange rates of the previous Working Day has been disclosed. The reference rates are rounded off to two decimal places. Industry and Market Data

An investment in equity shares involves a high degree of risk. You should carefully consider each of the following risk factors together with all other information set forth in this Draft Red Herring Prospectus, including the risks and uncertainties described below, before making an investment in the Equity Shares. The risks and uncertainties described below are not the only risks that we currently face or are relevant to us, our Equity Shares, the industry in which we operate or to India or the other geographies in which we sell our products. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business, prospects, results of operations, cashflows and financial condition. In order to obtain a completeunderstanding about us, investors should read this section in conjunction with “Our Business”, “Industry Overview”, and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” onpages274,200 and416, respectively, as well as the financial statements, including the notes thereto, and other financial information included elsewhere in this Draft Red Herring Prospectus. If any or some combination of the following risks, or other risks that are not currently known or believed to be adverse, actually occur, our business, results of operations, cashflows and financial condition could suffer, the trading price of, and the trading price of the Equity Shares could decline, and you may lose all or part of your investment. In making an investment decision with respect to this Offer, you must rely on your own examination of our Company, our business, and the terms of this Offer, including the merits and risks involved and you should consult your tax, financial and legal advisors about the particular consequences to you of an investment in the Equity Shares. Prospective investors should pay particular attention to the fact that our Company is incorporated under the laws of India and is subject to a legal and regulatory environment, which may differ in certain respects from that of other countries. This Draft Red Herring Prospectus also contains forward-looking statements that involve risks, assumptions, estimates and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the considerations described below and elsewhere in this Draft Red Herring Prospectus. See “Forward-Looking Statements” onpage35. Unless otherwise stated or the context otherwise requires, the financial information used in this section is derivedfrom our Restated Financial Information. For further details, please see “Restated Financial Information” onpage342. Unless otherwise indicated, industry and market data used in this section has been derived from industry publications, in particular, the report titled ‘Industry Report on Speciality Chemicals Sector’ dated October 7, 2025 (CARE Report), prepared and issued by CARE, exclusively commissioned and paid for by our Company in connection with the Offer. Unless otherwise indicated, all financial, operational, industry and other related information derived from the CARE Report and included herein with respect to any particular year, refers to such information for the relevant calendar year. CARE was appointed by our Company and is not connected to our Company, our Directors, our Promoters, our Key Managerial Personnel, Senior Management or BRLM. A copy of the CARE Report is available on the website of our Company at https://prasolchem.com/investor-relations/. For further information, see ‘Risk Factor - Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company’ on page71. Also see ‘Certain Conventions, Presentation of Financial, Industry and Market Data and Currency of Presentation’ on page32. Internal Risk Factors - 1. Our business and the demand for our products is reliant on the success of our customers’ products withend consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. We are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries and our revenue is attributable to (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care (Application Industries). Set out below is our product offering along with the revenue generated, in terms of percentage of the revenue from operations, from each of our product categories, in the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: - -

*Includes non-acetone and non-phosphorous based customised specialty chemicals such as surfactants, performance additives, ethers, esters, polymers, and acids. #Comprises job work sales, commissions, scrap sales and other operating income. We do not experience customer concentration risk and we serviced 1,015, 1,586, 1,560 and 1,597 customers during the three month period ended June 30, 2025 and during Fiscals 2025, 2024 and 2023, respectively. Further, for the three month period ended June 30, 2025 and during Fiscals 2025, 2024 and 2023, none of our customers contributed to more than 5.00% of our total income individually. Since we operate on a business to business to consumer (B2B2C) model, the demand for our products and margin of our products is dependent on and directly affected by factors affecting the industries we cater to. For key threats andchallenges affecting pharmaceuticals, home and personal care and performance chemicals, see ‘Industry Overview - Key Threats and Challenges’ on page272. Consequently, any reduction in demand or a temporary or permanent discontinuation of manufacturing of products on account of breakthrough in the development or invention of alternate formulations, may expose us to the risk of our products becoming obsolete or being substituted by such alternatives. Any failure on our part to effectively address such situations or to successfully introduce alternate products or the shifting of the practice in these industries towards developing substitutes of our products could adversely affect our business, results of operations, financial condition and cash flows. In addition, a slowdown in demand for our existing products ahead of a new product introduction could result in a write down in the value of inventory on hand related to existing products. Before we can introduce a new product, we must successfully execute a number of steps that involve a significant lead time, including successful research and development, obtaining the requisite regulatory approvals and registrations, customizing our production capacities, scaling our vendor, production and infrastructure networks, getting relevant customer approval post undertaking their audit processes and effective marketing strategies. Our failure to effectively adapt to the situations or to successfully introduce new products or new applications, under unpredicted circumstances could adversely affect our business, results of operations and financial condition as we have in the past experienced a slowdown in the demand for our products and delays in new product development. Such slowdowns and delays may occur in the future. Resultantly, if our customers, defer or cancel orders for our existing products, due to introduction of substitute products, which are more suitable and preferred options, our operating results would be adversely affected. - 2. Our business is reliant on certain key customers. Our top 10 customers contributed 23.91%, 21.96%, 18.46% and 23.27% of our total revenue from operations during three month period ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. The loss of any of these customers or loss of revenue from sales to any key customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.

- 5. We are susceptible to risks arising out of export of our products to 69 countries and with doing business internationally, including international market conditions and regulatory risks. During the period from April 01, 2022 to June 30, 2025, we have exported our products to 69 countries globally. We have appointed two sales channel personnel, one each in Shanghai and London, so as to enable us to market our products as well as understand the customer needs in these regions. These personnel are not the employees of our Company and have been engaged to provide services in relation to international marketing of our products and the services, on a non – exclusive basis and on an agreed fee, with effect from August 1, 2019 and January 16, 2016, respectively, in terms of the engagement letters issued by our Company to these personnel. Set out below is a break-up of our revenue from domestic sales and export of our products during the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: There are a number of risks in doing business abroad such as risks with respect to interest rate and foreign currency fluctuations, different tax and regulatory environments (particularly with respect to the nature of our products), changes in social, political and economic conditions, the need to recruit personnel combining product skills and local market knowledge, obtaining the necessary clearances and approvals to set up business and competing with established players in these regions and cost structures in international markets, including those in which we operate, that are significantly different from those that we have experienced inIndia. For instance, we export to countries such as Russia and Belarus, amounting to ₹ 113.01 million, ₹671.45 million, ₹ 188.64 million and ₹ 297.99 million which constituted 3.53 %, 6.61%, 2.13% and 3.20%of our total income for three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively. However, our exports to these countries may not likely get impacted in spite of the ongoing conflict between these countries due to the revenue contributed by these countries as compared to our total revenue being insignificant. Set out below is a break-up of our revenue from export of our products from our top 5 countries during the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: We also require various approvals, licenses, registrations and permissions for supplying our products to our overseas customers such as the REACH registration with European Chemicals Agency and other similar registrations with regulatory bodies of various countries. Authorities in different jurisdictions may impose their own requirements or delay or refuse to grant approval, even when our product has already been approved in another country. While, in the past we have not faced any non – compliance of any regulatory requirements, in case we fail to comply with applicable statutory or regulatory requirements in the future, there could be a delay in the submission or grant of approval for marketing new products. Additionally, the approval process for a new product is complex, lengthy and expensive in the international markets into which we sell our products. The time taken to obtain approval varies from country to country, and is significantly dependent on that particular country, the customers and the nature of the products for which approval is sought. Further, there may be certain developments in the industries in which our customers operate which in turn may have

an impact on our sales from exports. There may be imposition of certain tariffs, quotas and other tariff and non-tariff trade barriers on our products in jurisdictions in which we operate or seek to sell our products and we may face trade restrictions in the jurisdictions we operate including the European countries, among others. These risks may impact our ability to expand our exports in different regions and otherwise achieve our objectives relating to our export operations. Expansion into a market outside of our current operation could require significant investment and operating expenditures and have a material effect on our capital structure. If we pursue an international expansion opportunity, we could face internal or external risks, including, without limitation compliance with multiple and potentially conflicting foreign laws and regulations, import and export limitations and limits on the repatriation of funds. We may be unsuccessful in developing and implementing policies and strategies that will be effective in managing these risks in each country where we have business operations. Our failure to manage these risks successfully could adversely affect our business, operating results and financial condition. Furthermore, we may face competition in other countries from companies that have more experience with operations in such countries or with international operations generally. If we are unable to successfully develop or manage our international operations, it may limit our ability to grow our international business. Further, the countries where we export our products may impose varying duties on our products. We cannot assure you that the duties imposed by such countries will not increase in the future. India is also a party to, and is currently negotiating, free trade agreements with several countries and if we export our products to such countries, any revocation or alteration of those bilateral agreements may adversely affect our ability to export our products. Additionally, export destination countries may also enter into free trade agreements or regional trade agreements with countries other than India. Such agreements and alteration of existing tax treaties may lead to increased competition or may even place us at a competitive disadvantage compared to manufacturers in other countries and could adversely affect our business, results of operations, financial condition and cash flows. - 6. Our inability to accurately forecast demand for our products and manage our inventory or working capital balances may have an adverse effect on our business, results of operations, cash flows and financial condition. We conduct business with our customers primarily on the basis of purchase orders that are placed from time to time and we do not enter into any long term agreements with our customers. Consequently, there is no commitment on the part of such customers to continue to place new purchase orders with us and as a result, our revenue and consequent cash flow may fluctuate significantly from time to time. The fluctuation in demand for our products may either require us to increase production or decrease production and inventories at short notice, which may result in us bearing additional costs and incurring losses. While we maintain a reasonable level of inventory of raw materials, work in progress and finished goods, if we underestimate demand or have inadequate capacity due to which we are unable to meet the demand for our products, we may end up manufacturing lesser quantities of products than required, which could result in the loss of business. Similarly, an error in our forecast could also result in surplus stock, which may not be sold in a timely manner or at all. At times when we have overestimated demand, we may have incurred costs to build capacity or purchased more raw materials and manufactured more products than required. Our inability to accurately forecast demand for our products and manage our inventory may have an adverse effect on our business, results of operations, cash flows and financial condition. We evaluate our inventory balances of materials based on shelf life, expected sourcing levels, known uses and anticipated demand based on forecasted customer order activity and changes in our product sales mix. Efficient inventory management is a key component of the success of our business, results of operations and profitability. To be successful, we must maintain sufficient inventory levels and an appropriate product salesmix to meet our customers’ demands, without allowing those levels to increase to such an extent that the costs associated with storing and holding other inventory adversely affects our results of operations. If our raw materials purchase decisions do not accurately predict sourcing levels, or if our estimation of customer requirements and trends are inaccurate, we may have to take unanticipated markdowns or impairment charges to dispose of the excess or obsolete inventory, which can adversely affect our results of operations. Our working capital requirements may increase if payment terms shift to payments on completion of delivery or otherwise increase our working capital burdens. Our current term of payment is between 30 – 90 days. In few instances our Company is required to be paid at the time of placing the order, the amount of which varies from customer to customer. In addition, our working capital requirements have increased in recent years due

to the general growth of our business and due to delays in receipt of payment by customers. Also see, ‘Risk Factors - Our business is working capital intensive. If we experience insufficient cash flows from our operations or are unable to borrow to meet our working capital requirements, it may materially and adversely affect our business and results of operations’ on page52. If a customer defaults in making its payment on a product to which we have devoted significant resources, it may also affect our profitability and liquidity and decrease the capital resources that are otherwise available for other uses. For instance, our Company has filed 3 complaints against customers before various judicial forums for the violation of Section 138 of Negotiable Instruments Act, 1881 and the recovery of amounts due to our Company for which the cheques issued in favour of our Company by the customers have been dishonoured. The total pecuniary value involved in allthese matters aggregates to approximately ₹ 8.61 million. The matters are currently pending. For details, see‘Outstanding Litigation and Other Material Developments – Litigation involving our Company - Litigation Initiated by our Company - Criminal Proceedings’ on page436. All of these factors may result in increases in our working capital requirements. If we are unable to finance our working capital needs, or secure other financing when needed, on acceptable commercial terms or at all, it may adversely affect our business, growth prospects and results of operations. - 7. Our operations depend on the availability of timely and cost-efficient transportation and other logistic facilities and any prolonged disruption may adversely affect our business, results of operations, cash flows and financial conditions. Our operations depend on the timely transport of raw materials to our manufacturing facilities and of our products to our customers. We have not experienced third party transporter concentration risk for the three month period June 30, 2025 and for Fiscals 2025, 2024 and 2023. We had employed services of 69, 99, 97 and 104 third party transporters during the three month period ended June 30, 2025 and during Fiscals 2025, 2024 and 2023, respectively. The freight and handling charges paid to our top five third-party transporterswas ₹ 18.93 million, ₹ 85.38 million, ₹ 68.31 million and ₹ 134.14 million, constituting 27.66%, 34.06%, 37.82% and 50.70% of our total freight and handling charges, for the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively. Our outward freight, handling and other sales anddistribution expenses were ₹ 84.70 million, ₹ 276.35 million, ₹ 220.30 million and ₹ 310.24 millionconstituting 2.64%, 2.72%, 2.48% and 3.33% of our total income for the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, respectively. We use a combination of land and water transport and typically rely on third party transportation providers for such purposes, which are subject to various bottlenecks and other hazards beyond our control, including customs, weather, strikes or civil disruptions. We may experience disruption in the transportation of raw materials by ship and delivery of the products to our customers due to bad weather conditions. For instance, our Company experienced disruption for a certain period, in manufacturing and supply of the specialty products to the customers on account of floods in the Mahad, Maharashtra in the year 2021. Further, unexpected delays due to delays in obtaining customs clearance for raw materials imported by us or products exported by us, or increases in transportation costs, could significantly decrease our ability to make sales and earn profits. Any failure to deliver our products to our customers in an efficient, reliable and timely manner could have an adverse effect on our business, results of operations, cash flows and financial conditions. - 8. Any increase in the cost of our raw material or other purchases or a shortfall in the supply of our raw materials, may adversely affect the pricing and supply of our products and have an adverse effect on our business, results of operations and financial condition. The success of our operations depends on a variety of factors, including our ability to source raw materials at competitive prices. For the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023, ourcost of raw materials amounted to ₹ 1,705.29 million, ₹ 6,075.99 million, ₹ 5,174.02 million, and ₹ 4,877.20million, respectively constituting 59.28%, 63.54%, 60.99% and 55.78%, respectively, of our total expenses. The major raw materials required by our Company for the manufacturing of our products is acetone andyellow phosphorous. The average price of acetone (i) increased by 21.20% from ₹ 61.56 per kg in Fiscal 2023 to ₹ 74.61 per kg in Fiscal 2024, (ii) increased by 9.65% from ₹ 74.61 per kg in Fiscal 2024 to ₹ 81.81 per kgin Fiscal 2025, and (iii) decreased by 19.47% to ₹ 65.88 per kg for the three month period ended June 30, 2025 from ₹ 81.81 per kg in Fiscal 2025. Further, the prices of yellow phosphorus (i) decreased by 31.41% from ₹ 486.71 per kg in Fiscal 2023 to ₹ 333.83 per kg in Fiscal 2024, (ii) decreased by 2.58% from ₹ 333.83 per kg in Fiscal 2024 to ₹ 325.21 per kg in Fiscal 2025, and (iii) increased by 8.14% to ₹ 351.70 per kg for the three month period ended June 30, 2025 from ₹ 325.21 per kg in Fiscal 2025. Raw material supply and pricing can be volatile due to a number of factors beyond our control, including demand and supply, general economic and political conditions, transportation and labour costs, natural disasters, pandemic, competition

* To the extent quantifiable Our Group Companies are also not involved in any litigations which have a material impact on our Company. For further details on the outstanding litigation see ‘Outstanding Litigation and Other Material Developments’ at page434. We cannot assure you that these legal proceedings will be decided in favour of our Company, our Promoters, and our Directors, as the case may be, or that no further liability will arise out of these proceedings. The amounts claimed in these proceedings have been disclosed to the extent ascertainable and include amounts claimed jointly and severally. If any new developments arise, such as change in Indian law or rulings against us by appellate courts or tribunals, we may need to make provisions in our financial statements that could increase our expenses and current liabilities. Further, such legal proceedings could divert management time and attention and consume financial resources. Any adverse outcome in any of these proceedings may have an adverse effect on our results of operations and financial condition. - 24. Our inability to manage the expansion of our products range and manufacturing capacities and execute our growth strategy in a timely manner or within budget estimates, or our inability to meet the expectations to track the changing preferences of our customers or other stakeholders could have an adverse effect on our business, results of operations and financial condition. Our inability to manage the expansion of our products range and manufacturing capacities and execute our growth strategy in a timely manner or within budget estimates, or our inability to meet the expectations to track the changing preferences of our customers or other stakeholders could have an adverse effect on our business, results of operations and financial condition. Our current growth strategies include: (i) debottlenecking and expanding our production capacities for existing product portfolio; (ii) increasing focus on R&D to support complex chemistries, product innovation, import substitution, and forward and backward integration of existing products; (iii) inorganic growth through strategic acquisitions, technology acquisition/licensing or joint ventures; (iv) increasing our geographic reach and global footprint and increasing wallet share with existing customers; (v) continuing to focus on turnaround of our greenfield investment in Mahad Manufacturing Facility to increase our profitability; and (vi) continuing to improvefinancial performance through focus on operational and functional efficiencies. For details, see ‘Our Business– Our Strategies’ on page283. Our future prospects will depend on our ability to grow our business and operations, which could be affected by many factors, including our ability to introduce and innovate new products and maintain the quality of our products, general political and economic conditions in the geographies in which we operate, government policies or strategies in respect of specific industries, prevailing interest rates, price of equipment and raw materials, energy supply and currency exchange rates. - 25. We require a number of approvals, licences, registrations and permits to operate our business and the failure to obtain or renew these licences in a timely manner, or at all, may have an adverse effect on our business, results of operations and financial condition. Our business operations require us to obtain and renew, from time to time, certain approvals, licenses, registrations and permits under central, state and local government rules in India, generally for carrying out our business and for our manufacturing facilities. A majority of these approvals are granted for a limited duration. While we are required to obtain a number of approvals for legally conducting our business operations and we shall submit the applications for renewal of such approvals, as and when required, during the course of our business operations, we cannot assure you that we will be able to obtain approvals in respect of such applications, or any application made by us in the future. If we fail to obtain such registrations and licenses or renewals, in a timely manner, we may not then be able to carry on certain operations of our business, which may have an adverse effect on our business, financial condition and results of operations. As

1. Insurable assets includes property, plant and equipment, inventories and capital work in progress. 2. Uninsurable assets includes goodwill, other intangible assets, security deposits given, receivable from related parties, receivable from third parties, balance with government authorities, trade receivables, cash and cash equivalents, Bank balance other than cash and cash equivalents, Investments, deferred tax assets (net) For details in relation to product liability claims, see “Risk Factors – We are susceptible to product liability claims, which may require substantial expenditure and may adversely affect our reputation and if successful, could require us to pay substantial sums” on page58. While we believe that the insurance coverage which we maintain would be reasonably adequate to cover the normal risks associated with the operation of our business, to the extent that we suffer loss or damage, for which we have not obtained or maintained insurance, or which is not covered by insurance, which exceeds our insurance coverage or where our insurance claims are rejected, the loss would have to be borne by us and our results of operations and financial condition could be adversely affected. In addition, our insurance policies expire from time to time and we may not be able to renew our policies in a timely manner, or at acceptable cost. We cannot assure you that, in the future, any claim under the insurance policies maintained by us will be honoured fully, in part or on time, or that we have taken out sufficient insurance to cover all our losses. Further, an insurance claim once made could lead to an increase in our insurance premium, result in higher deductibles and also require us to spend towards addressing certain covenants specified by the insurance companies. - 33. Failure to anticipate customer preferences and requirements including by our customers in their Application Industries, and to identify changes in consumer preferences, evolving consumer requirements could adversely affect our business, prospects, results of operations and financial condition. The success of our business depends upon the ability to anticipate customer preferences and requirements, including by our customers in their Application Industries, and our ability to offer customised products that our customers require. We constantly seek to develop our research and development capabilities to distinguish ourselves from our competitors by enabling us to introduce new products and different variant of our existing products, based on consumer preferences and demand. Although we seek to identify such trends and introduce new products after testing such products, we cannot assure you that our products would gain customer acceptance. Further, there can be no assurance that the lack of demand from any one of these industries can be offset by sales to other industries in which our products find application. Further, the demand for our products may decline due to the increase in competition, regulatory action, pricing pressures and/or fluctuations of demand and supply. If our competitors are able to improve the efficiency of their manufacturing process or their distribution or raw materials sourcing process and thereby offer their products at lower price, we may not be able to reduce our gross margin to retain customers by offering our products at lower prices. Our failure to effectively react to these situations or to successfully introduce new products or new applications, under such circumstances, could adversely affect our business, prospects, results of operations and financial condition. - 34. Our inability to meet our obligations, including financial and other covenants under our debt financing arrangements could adversely affect our business, results of operations and cash flows.

In addition, the policies of the RBI may also change from time to time, which may limit our ability to effectively hedge our foreign currency exposures and may have an adverse effect on our results of operations and cash flows. Any such losses on account of foreign exchange fluctuations may adversely affect our results of operations and cash flows. Certain markets in which we sell our products may be subject to foreign exchange repatriation and exchange control risks, which may result in either delayed recovery or even non- realization of revenue. - 39. We have certain contingent liabilities and commitments, which, if materialized, may affect our financial condition and results of operations. Our contingent liabilities and commitments as of June 30, 2025 were as follows: (₹ in million) For further details of the contingent liabilities and commitments of our Company as on June 30, 2025, see‘Restated Financial Information – Note No. 35 - Contingent Liabilities’ and ‘Restated Financial Information– Note No. 36 - Commitments’ on page 390. If a significant portion of these liabilities materialize, it could have an effect on our results of operations and financial condition. Further, there can be no assurance that we will not incur similar or increased levels of contingent liabilities in the future. - 40. Our operations are labour intensive, and our manufacturing operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers. Our operations are labour intensive and we are dependent on a large labour force for our manufacturing operations. As a part of our employee compensation, we incur various costs, including salaries, wages and bonus, staff welfare expenses, gratuity expense and contribution to provident and other funds. Due to economic growth in the past and the increase in competition for skilled and semi-skilled employees in India, wages in India have, in recent years been increasing at a fast rate. As of July 31, 2025, we had 656 permanent employees, and we engaged 180 persons on contract basis. The table below sets out our employee benefit expenses, labour charges and such expenses as a percentage of our total expenses in three months ended June 30, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023:

* We have been unable to trace all the filings, and other records, in relation to changes in our issued, subscribed and paid-up share capital. Accordingly, disclosures in relation to certain changes in our issued, subscribed and paid-up share capital have been made in reliance of (i) share allotments and share transfer registers, and (ii) certificate dated October 14, 2025 from DevendraVasant Deshpande, proprietor of DVD & Associates, the Practicing Company Secretary. Please also see “Risk Factors – Our Company was incorporated in 1992 and some of our corporate records relating to changes in the share capital of our Company such as buy-back of equity shares and transfers, acquisitions of Equity Shares made by our Promoters, and appointment /re- appointment of Directors, are not traceable” on page54. ** Our Company pursuant to a resolution passed by our shareholders’ dated June 23, 2016, approved consolidation of our authorised, issued, subscribed and paid-up share capitalfrom ₹ 31,000,000, divided into 3,100,000 equity shares of face value of ₹ 10 each to ₹ 3,100,000, divided into 310 equity shares of face value of ₹ 100,000 each. However, the aforesaid corporateaction was subsequently rescinded by our Company pursuant to a resolution passed by our shareholders’ dated November 3, 2016 and has consequently not been given effect to. *** The equity shares allotted were partly paid-up at the time of allotment and were subsequently fully paid-up. The partly paid up shares issued in Fiscal 1995 were fully paid up in Fiscal 1995, and the partly paid up shares issued in Fiscal 2012 were fully paid up in Fiscal 2013. $ The allotment includes initial subscription of 100 equity shares each by Nishith Rajnikant Shah, Tushar Natverlal Dharia and Sunil Shantilal Thakkar pursuant to the Memorandum of Association. & Date of extinguishment of equity shares

* We do not have all the forms and/or corporate resolutions for the period of directorship of the directors. For further details,please see “Risk Factors – Our Company was incorporated in 1992 and some of our corporate records relating to changes in the share capital of our Company such as buy-back of equity shares and transfers, acquisitions of Equity Shares made by our Promoters, and appointment /re-appointment of Directors, are not traceable” on page54. ** Nishith Rajnikant Shah was appointed as the Chairman of our Company pursuant to a board resolution dated February 24, 2022. Brief Profiles of our Directors Nishith Rajnikant Shah is the Chairman and Whole-time director of our Company. He holds a bachelor’s degree in science from California State University, Northridge and master’s degree in engineering from the CaliforniaPolytechnic State University, USA. He was associated with Heatreaters and Engineers, Heat Fabs and Pratech Brands Private Limited. He has around 35 years of experience in the chemical industry. He has been associated with our Company as a director since its incorporation and is one of the founders of our Company. He oversees the overall strategy and vision of our Company. Gaurang Natwarlal Parikh is the Managing Director of our Company. He holds a bachelor’s degree in engineering, in chemical branch from University of Pune and a master’s of science in chemical engineering fromthe University of Toledo, USA. Prior to joining our Company, he was associated with Owens Brockway, Rostone Corp and The Budd Company, USA. He has been associated with our Company as a director since August 9, 2001. He has around 24 years of experience in the chemical industry. He oversees business development and R&D. Dhaval Nalin Parikh is a Joint-Managing Director of our Company. He holds a bachelor’s degree in technology (Polymer technology) from Institute of Chemical Technology, from University of Mumbai, India, and a master’sof science in engineering (Plastics engineering) from University of Massachusetts, Lowell, USA. Prior to joining our Company, he was associated with GE Plastics, USA. He has around 18 years of experience in the chemicals industry. He oversees international sales and manufacturing operations. Pankil Nishith Dharia is a Whole-time Director – Strategy and Business Development of our Company. He holdsa bachelor’s degree in electrical engineering and a bachelor’s degree in science in Liberal Arts and Sciences fromUniversity of Illinois at Urbana Champagne (UIUC). Prior to joining our Company, he was associated with Medtronic Inc, USA. He has around 14 years of experience in chemicals industry. He oversees business development, information technology and supply chain management. Rakesh Shivaji Jadhav is a Whole-time Director - EHS, Governance & Business Process of our Company. Heholds a bachelor’s degree in Computer Application from Directorate of Distance Education, Madurai Kamraj University. He has also completed an Executive Certificate Programme in General Management from the Indian Institute of Management, Indore. He also holds a diploma in Computer Management from Datapro Infoworld Ltd. and has completed Microsoft-authorised training in Windows, Word, Excel and FoxPro Programming. He is a Certified Information Systems Auditor (CISA), accredited by ISACA. Prior to joining our Company, he was associated with Nitya Computers, MRC Logistics Private Limited, LP Logiscience LLP and Elde Info Solutions Private Limited. He has around 22 years of experience in information and technology industry. Lakshmi Kantam Mannepalli is a Non-Executive Independent Director of our Company. She holds a bachelor’s degree in science from Andhra University, and a master’s degree and PhD in chemistry from KurukshetraUniversity. Prior to joining our Company, she was associated as a director with Council of Scientific and Industrial Research – Indian Institute of Chemical Technology, Hyderabad and Godavari Biorefineries Limited. She is currently working as Dr. B.P. Godrej Distinguished Professor of Green Chemistry and Sustainability Engineering at the Institute of Chemical Technology. She has also been elected as a fellow of the Indian National Science

- - 2. To review financial results and related information and disclosure of financial information relating to the Company to ensure that the financial statements are correct, sufficient and credible; - 3. To approve or modify any related party transactions, to review internal financial controls and risk management system; - 4. To formulate policy on related party transactions, which shall include materiality of related party transactions; - 5. To review, at least on a quarterly basis, the details of related party transactions entered into by the Company pursuant to each of the omnibus approvals given; - 6. To recommend appointment, re-appointment, replacement, remuneration and terms of appointment of auditors of the Company and the fixation of the audit fee; - 7. To review and evaluate with the management performance of statutory and internal auditors, effectiveness of audit process and adequacy of the internal control systems; - 8. To review and monitor the statutory auditor’s independence and performance, and effectiveness of auditprocess; - 9. Approval of payment to statutory auditors for any other services rendered by the statutory auditors of the Company; - 10. Reviewing, with the management, the annual financial statements and auditor's report thereon before submission to the Board for approval, with particular reference to: - - i. Matters required to be included in the Director's responsibility statement to be included in theBoard’s report in terms of clause (c) of sub-section 3 of Section 134 of the Companies Act as amended from time to time; - - ii. Changes, if any, in accounting policies and practices and reasons for the same; - - iii. Major accounting entries involving estimates based on the exercise of judgment by management; - - iv. Significant adjustments made in the financial statements arising out of audit findings; - - v. Compliance with listing and other legal requirements relating to financial statements; - - vi. Disclosure of any related party transactions; and - - vii. Modified opinion(s) in the draft audit report. - 11. Reviewing, with the management, the quarterly, half-yearly and annual financial statements before submission to the Board for approval; - 12. Reviewing, with the management, the statement of uses/ application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilised for purposes other than those stated in the offer document/ prospectus/ notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, or preferential issue or qualified institutions placement and making appropriate recommendations to the Board to take up steps in this matter. This also includes monitoring the use/application of the funds raised through the proposed initial public offer by the Company; - 13. Approval or any subsequent modifications of transactions of the Company with related parties and omnibus approval for related party transactions proposed to be entered into by the Company, subject to the conditions as may be prescribed; - - - - - - - - - - - - - - - - - - -

- 2. To ensure that appropriate methodology, processes and systems are in place to monitor and evaluate risks associated with the business of the Company; - 3. To periodically review the risk management policy, at least once in two years, including by considering the changing industry dynamics and evolving complexity and recommend for any amendment or modification thereof, as necessary; - 4. To keep the Board informed about the nature and content of its discussions, recommendations and actions to be taken; - 5. The appointment, removal and terms of remuneration of the Chief Risk Officer (if any) shall be subject to review by the Risk Management Committee; - 6. To implement and monitor policies and/or processes for ensuring cyber security; - 7. To consider the effectiveness of decision making process in crisis and emergency situations; - 8. To generally, assist the Board in the execution of its responsibility for the governance of risk; - 9. To frame, devise and monitor risk management plan and policy of the Company, including evaluating the adequacy of risk management systems; - 10. To review and recommend potential risk involved in any new business plans and processes; - 11. To review the Company’s risk-reward performance to align with the Company’s overall policyobjectives; - 12. Monitor and review regular updates on business continuity; - 13. The Risk Management Committee shall have powers to seek information from any employee, obtain outside legal or other professional advice and secure attendance of outsiders with relevant expertise, if it considers necessary - 14. The Risk Management Committee shall coordinate its activities with other committees, in instances where there is any overlap with activities of such committees, as per the framework laid down by the board of directors; - 15. Advise the Board with regard to risk management decisions in relation to strategic and operational matters such as corporate strategy; and - 16. Performing such other activities as may be delegated by the Board or specified/ provided under the Companies Act, 2013, as amended, or by the SEBI Listing Regulations or statutorily prescribed under any other law or by any other regulatory authority. ![A diagram of a diagram AI-generated content may be incorrect.]() - - - -

$ To be computed prior to filing of the Prospectus with the RoC. For further details, see ‘Capital Structure’ on page99.

Shareholding of Promoter, Promoter Group and Additional top 10 Shareholders of our Company Set out below is the shareholding of our Promoter, Promoter Group and additional top 10 Shareholders as of the date of allotment:

Financing Arrangements There have been no financing arrangements whereby our Promoters, members of our Promoter Group, our Directors and their relatives have financed the purchase by any other person of securities of our Company, other than in the normal course of business of the relevant financing entity, during a period of 6 months immediately preceding the date of this Draft Red Herring Prospectus. Average Cost of Acquisition of our Promoters and the Selling Shareholders The average cost of acquisition per Equity Share for our Promoters and Selling Shareholders is given below:

connection at the site; and (ii) the sludge and salt generated from the MEE plant is being disposed of scientifically to the Mumbai Waste Management Limited. No subsequent action has been taken or correspondence issued in this matter. Our inability to effectively respond to any shutdown or closures or to rectify any disruption, in a timely manner and at an acceptable cost, could also lead to an inability to complywith our customers’ requirements and would result in usbreachingour contractual obligations. We may also experience loss of, or a decrease in, revenue due to lower manufacturing levels. Set out below are the details of our installed capacity and capacity utilisation at Khopoli Manufacturing Facility for the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023: *For the 3 months period ended June 30, 2025, the actual production (in Metric tonnes) has not been annualized and reflects the actual production of the facility for the period. ** For the 3 months period ended June 30, 2025, the capacity utilisation has been annualised. As certified by Dinesh Kumar Maheshwari, Chartered Engineer, pursuant to certificate dated October 14, 2025. Set out below are the details of our installed capacity and capacity utilisation at Mahad Manufacturing Facility for the three month period ended June 30, 2025 and for Fiscals 2025, 2024 and 2023: *For the 3 months period ended June 30, 2025, the actual production (in Metric tonnes) has not been annualized and reflects the actual production of the facility for the period. ** For the 3 months period ended June 30, 2025, the capacity utilisation has been annualised. Our Mahad Manufacturing Facility was non-operational from October 27, 2023 to May 3, 2024. As certified by Dinesh Kumar Maheshwari, Chartered Engineer, pursuant to certificate dated October 14, 2025 Notes: (1) The information relating to the installed capacity as of the dates included above is based on various assumptions and estimates that have been taken into account for calculation of the installed capacity. The assumptions and estimates taken into account include the following: (i) Number of working days in a fiscal year - 324; (ii) Number of working days in a month - 27; (iii) Number of shifts in a day - 3; and (iv) Number of working hours per shift - 8. The installed capacity as of March 31, 2023, March 31, 2024, March 31, 2025 and three months period ended June 30, 2025 have been provided on an annualized basis. (2) Capacity utilization has been calculated based on actual production during the relevant fiscal year divided by the aggregate installed capacity all at the end of the relevant fiscal year / period. For details, see “Our Business – Manufacturing Facilities” on page288. In addition, we may be required to shut down our manufacturing facilities for various reasons such as maintenance, inspection, testing and capacity expansion. Further, the capacity utilization at our manufacturing facilities is subject to various factorssuch as availability of raw materials, power, water, efficient working of machinery and equipment and optimal manufacturing planning. Both our Khopoli Manufacturing Facility and Mahad Manufacturing Facility and our R&D centre are located in Maharashtra. In the event there are any disruptions at our manufacturing facilities, due to natural or man- made disasters, workforce disruptions, regulatory approval delays, fire, failure of machinery, lack of access

expertise that drive sustainable growth for our Company. Our Independent Directors, Lakshmi Kantam Mannepalli provides guidance in R&D, G Ramakrishnan (one of the promoters of Galaxy Surfactants Limited) brings experience in building a large specialty chemical company, Srinivasan Subramanian provides guidance in finance and banking, Ajay Motilal Jain provides guidance in business operations, and Narayanan Pulukhool Nair provides guidance in procurement and international sales. In addition, Kiran Rajendra Agarwal, Company Secretary and Compliance Officer of our Company, overseas secretarial and compliancematters and is responsible for ensuring compliance with corporate governance norms. Also, see ‘OurManagement’ on page309. We also have a succession plan in place with experienced Directors mentoring younger Directors, members of Key Managerial Personnel and members of Senior Management to ensure smooth leadership transition in the future. The continued involvement of our Promoter, Key Managerial Personnel and Senior Managerial Personnel in the leadership position of our Company is critical to our success and their non-availability in a leadership role could have a deleterious impact on our business and financial condition. If we are unable to hire additional personnel or retain existing skilled personnel, our operations and our ability to expand our business may be impaired. Further, we may be unable to hire and retain enough skilled and experienced employees to replace those who leave or may not be able to re-deploy existing resources successfully. Failure to hire or retain Key Managerial Personnel, Senior Managerial Personnel and skilled and experienced employees could adversely affect our business and results of operations. Our success significantly also depends upon the continued service of our human resources who we believe are necessary to successfully lead the development of our business. Our ability to retain and attract qualified individuals is critical to our success. Competition for individuals with specialized knowledge and experience is intense in our industry. Further, as we expect to continue to expand our operations and develop new products, we will need to continue to attract and retain experienced management personnel. If we are unable to retain or attract such members or are unable to locate suitable or qualified replacements, our results of operations may be adversely affected. We may require a long period of time to hire and train replacement personnel when qualified personnel resign from their employment with our Company. We may also be required to increase our levels of employee compensation more rapidly than in the past to remain competitive in attracting employees that our business requires. The loss of the services of such persons may have an adverse effect on our business, our results of operations and our cash flows. - 23. There are outstanding litigations involving our Company, Promoters and Directors, and any adverse outcome in any of these proceedings may adversely affect our results of operations and financial condition. Our Company, Promoters and our Directors are involved in certain outstanding legal proceedings, which are pending at different levels of adjudication at different fora. Brief details of such outstanding litigation are as follows:

* To the extent quantifiable Our Group Companies are also not involved in any litigations which have a material impact on our Company. For further details on the outstanding litigation see ‘Outstanding Litigation and Other Material Developments’ at page434. We cannot assure you that these legal proceedings will be decided in favour of our Company, our Promoters, and our Directors, as the case may be, or that no further liability will arise out of these proceedings. The amounts claimed in these proceedings have been disclosed to the extent ascertainable and include amounts claimed jointly and severally. If any new developments arise, such as change in Indian law or rulings against us by appellate courts or tribunals, we may need to make provisions in our financial statements that could increase our expenses and current liabilities. Further, such legal proceedings could divert management time and attention and consume financial resources. Any adverse outcome in any of these proceedings may have an adverse effect on our results of operations and financial condition. - 24. Our inability to manage the expansion of our products range and manufacturing capacities and execute our growth strategy in a timely manner or within budget estimates, or our inability to meet the expectations to track the changing preferences of our customers or other stakeholders could have an adverse effect on our business, results of operations and financial condition. Our inability to manage the expansion of our products range and manufacturing capacities and execute our growth strategy in a timely manner or within budget estimates, or our inability to meet the expectations to track the changing preferences of our customers or other stakeholders could have an adverse effect on our business, results of operations and financial condition. Our current growth strategies include: (i) debottlenecking and expanding our production capacities for existing product portfolio; (ii) increasing focus on R&D to support complex chemistries, product innovation, import substitution, and forward and backward integration of existing products; (iii) inorganic growth through strategic acquisitions, technology acquisition/licensing or joint ventures; (iv) increasing our geographic reach and global footprint and increasing wallet share with existing customers; (v) continuing to focus on turnaround of our greenfield investment in Mahad Manufacturing Facility to increase our profitability; and (vi) continuing to improvefinancial performance through focus on operational and functional efficiencies. For details, see ‘Our Business– Our Strategies’ on page283. Our future prospects will depend on our ability to grow our business and operations, which could be affected by many factors, including our ability to introduce and innovate new products and maintain the quality of our products, general political and economic conditions in the geographies in which we operate, government policies or strategies in respect of specific industries, prevailing interest rates, price of equipment and raw materials, energy supply and currency exchange rates. - 25. We require a number of approvals, licences, registrations and permits to operate our business and the failure to obtain or renew these licences in a timely manner, or at all, may have an adverse effect on our business, results of operations and financial condition. Our business operations require us to obtain and renew, from time to time, certain approvals, licenses, registrations and permits under central, state and local government rules in India, generally for carrying out our business and for our manufacturing facilities. A majority of these approvals are granted for a limited duration. While we are required to obtain a number of approvals for legally conducting our business operations and we shall submit the applications for renewal of such approvals, as and when required, during the course of our business operations, we cannot assure you that we will be able to obtain approvals in respect of such applications, or any application made by us in the future. If we fail to obtain such registrations and licenses or renewals, in a timely manner, we may not then be able to carry on certain operations of our business, which may have an adverse effect on our business, financial condition and results of operations. As

Further, while we take care to ensure that we comply with the intellectual property rights of others, we cannot determine with certainty whether we are infringing any existing third-party intellectual property rights. Any claims of intellectual property infringement from third parties, regardless of merit or resolution of such claims, could force us to incur significant costs in responding to, defending and resolving such claims, and may divert the efforts and attention of our management and technical personnel away from our business. While there has not been any instance of any third-party alleging infringement of their intellectual property by our Company in the past last 3 financial years and the three month period ended June 30, 2025, the risk of being subject to intellectual property infringement claims will increase as we continue to expand our operations and product offerings. As a result of such infringement claims, we could be required to pay third party infringement claims. The occurrence of any of the foregoing could result in unexpected expenses. We also rely on technical knowledge, product information, industry data, manufacturing expertise and market“knowhow” that cannot be registered and is not subject to any confidentiality or non-disclosure clauses oragreements. For details, see ‘Risk Factors – Our failure to keep our technical knowledge confidential could erode our competitive advantage.’ If such know-how is leaked to third parties, this could erode our competitive advantage. Our trade secrets may become known or independently developed by our competitors, and in such cases, we may no longer enjoy the exclusive use of some of our formulations or maintain the confidentiality of information relating to our products. While we may enter into confidentiality agreements, we cannot guarantee that any of our unregistered intellectual property rights or our know-how, or claims thereto, will now or in the future successfully protect what we consider to be the intellectual property underlying our products and business, or that our rights will not be successfully opposed or otherwise challenged. Since our innovations, products and name are not protected by intellectual property rights, third parties, including competitors, may be able to commercialise our innovations or products or use our know- how. - 42. Majority of our directors including our independent directors do not have any experience of being a director in a listed company. This may require them to divert their attention from our business concerns to understand the detailed operations of a listed company. Currently, our Board comprises of 10 directors out of which 5 are independent directors. Majority of our Directors do not have the experience of being directors on the board of a listed company. While our Directorspossess the required qualifications and appropriate skills, experience and knowledge required to act as independent director of our Company and are experienced in their respective fields, they may not have adequate experience in being a director of a listed company. Accordingly, such directors will need to familiarise themselves with the regulatory framework within which listed companies in India operate and to the extent that they are unfamiliar with such framework their ability to discharge their functions as independent directors could be adversely affected. As a listed company, we will be subject to increased scrutiny of our affairs by shareholders, regulators and the public at large that is associated with being a listed company and will also be subject to increased corporate governance requirements. Accordingly, the lack of experience of our directors of never having been directors of a listed company, may require them to divert their attention from our business concerns to understand the detailed operations of a listed company. - 43. Fraud, theft, employee negligence or similar incidents may adversely affect our results of operations and financial condition. Our operations may be subject to incidents of theft or damage to inventory in transit and prior to or during godown stocking. While we have not experienced any instance of theft, fraud, employee negligence and resultant loss in the last 3 Fiscals and the three month ended June 30, 2025, the business may encounter some inventory loss on account of employee theft, vendor fraud and general administrative error, in the future. While we have obtained the anti – burglary insurance policy, there can be no assurance that we will not experience any fraud, theft, employee negligence, security lapse, loss in transit or similar incidents in the future, which could adversely affect our results of operations and financial condition. Additionally, losses due to theft, fire, breakage or damage caused by other casualties, theft of confidential information such as manufacturing processes, customers and product formulations, could adversely affect our results of operations and financial condition. - 44. Significant disruptions of information technology systems or breaches of data security could adversely affect our business.

amendments to our Memorandum and Articles of Association, the approval of a merger, amalgamation or sale of our assets and the approval of most other actions requiring the approval of our Shareholders. The interests of our Promoters may be different from or conflict with the interests of our other Shareholders. - 50. Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company. Certain sections of this Draft Red Herring Prospectus include information based on, or derived from, the CARE Report or extracts of the CARE Report, which is not related to our Company, Directors or Promoters. We exclusively commissioned and paid for this report for the purpose of confirming our understanding of the industry in connection with the Offer. All such information in this Draft Red Herring Prospectus indicates the CARE Report as its source. Accordingly, any information in this Draft Red Herring Prospectus derived from, or based on, the CARE Report should be read taking into consideration the foregoing. Industry sources and publications are also prepared based on information as of specific dates and may no longer be current or reflect current trends. Industry sources and publications may also base their information on estimates, projections, forecasts and assumptions that may prove to be incorrect. While industry sources take due care and caution while preparing their reports, they do not guarantee the accuracy, adequacy or completeness of the data. Further, the CARE Report is not a recommendation to invest / disinvest in any company covered in the CARE Report. You should consult your own advisors and undertake an independent assessment of information in this Draft Red Herring Prospectus based on, or derived from, the CARE Report before making any investment decision regarding the Offer. - 51. We cannot assure payment of dividends on the Equity Shares in the future. Our ability to pay dividends in the future will depend upon our earnings, financial condition, cash flows and capital requirements. While our Company has declared dividends during Fiscal 2025, Fiscal 2024 and Fiscal 2023, our Company cannot assure you that it will be able to declare dividends, of any particular amount or with any frequency in the future. For further details, see the ‘Dividend Policy’ at page341.Our Company’s ability to pay dividends in the future will depend upon a variety of factors, including our profitability, general financial conditions, capital requirements, results of operations, contractual obligations including terms and conditions of the financing agreements executed by our Company with lenders, overall financial position, applicable Indian legal restrictions, our Company’s Articles of Association, and other factors considered relevant by the Board of Directors of our Company. Further, our Promoters and Promoter Group will continue to hold a substantial portion of our post-Offer paid-up Equity Share capital and may have a significant ability to control the payment and/or the rate of dividends. Further, our Company may or may not grant the benefit of a tax treaty (where applicable) to a non-resident shareholder for the purposes of deducting tax at source from such dividend. Investors should consult their own tax advisors about the consequences of investing or trading in the Equity Shares. - 52. Significant differences exist between Ind AS and other accounting principles, such as U.S. GAAP and IFRS, which may be material to the Restated Financial Information prepared and presented in accordance with SEBI ICDR Regulations contained in this Draft Red Herring Prospectus. We have not attempted to quantify the impact of U.S. GAAP or any other system of accounting principles on the financial data, prepared and presented in accordance with Ind AS for three month ended June 30, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023 included in this Draft Red Herring Prospectus, nor do we provide a reconciliation of our financial statements to those of U.S. GAAP or any other accounting principles. U.S. GAAP differs in significant respects from Ind AS. Accordingly, the degree to which the Restated Financial Information included in this Draft Red Herring Prospectus will provide meaningful information is entirely dependent on the reader's level of familiarity with Ind AS and SEBI ICDR Regulations. Any reliance by persons not familiar with Indian accounting practices on the financial disclosures presented in this Draft Red Prospectus should accordingly be limited. Additionally, Ind AS differs in certain respects from IFRS and therefore financial statements prepared under Ind AS may be substantially different from financial statements prepared under IFRS. - 53. Certain non-GAAP financial measures and certain other statistical information relating to our operations and financial performance such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity have been included in this Draft Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.

The following tables provide the summary of our financial information derived from the Restated Financial Information as at and for the three month period ended June 30, 2025 and as at and for the Financial Years ended March 31, 2025, March 31, 2024 and March 31, 2023. The summary financial information presented below should be read in conjunction with “Financial Information” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” on pages342and416, respectively. Restated Balance Sheet (all amounts are in ₹ million, unless otherwise stated)

For brief profiles and further details of our Directors, see “Our Management” on page309. Company Secretary and Compliance Officer Kiran Rajendra Agrawal is the Company Secretary and Compliance Officer of our Company. Her contact details are set forth below: Kiran Rajendra Agrawal Prasol House, Plot No. A - 17/2/3, T. T. C. Industrial Area, Khairne M.I.D.C., Navi Mumbai, Thane, Maharashtra – 400710, India Tel: + 91 22 61952500 E-mail: investorservices@prasolchem.com Investor Grievances Investors can contact the Company Secretary and Compliance Officer, the BRLM or the Registrar to the Offer in case of any pre-Offer or post-Offer related issues, such as non-receipt of letters of Allotment, non-credit of Allotted Equity Shares in the respective beneficiary account, non-receipt of unblocking intimation/ refund intimation, as applicable or non-receipt of funds by electronic mode. For all Offer related queries and for redressal of complaints, investors may also write to the BRLM. All Offer related grievances, other than by Anchor Investors, may be addressed to the Registrar to the Offer, with a copy to the relevant Designated Intermediary, where the Bid cum Application Form was submitted, quoting the full name of the sole or First Bidder, Bid cum Application Form number, Bidder’s DP ID, ClientID, PAN, address of the Bidder, number of Equity Shares applied for, date of Bid cum Application Form, name and address of the relevant Designated Intermediary, where the Bid was submitted and ASBA Account number (for Bidders other than UPI Bidders bidding through the UPI mechanism) in which the amount equivalent to the Bid Amount was blocked or UPI ID in case of UPI Bidders applying through the UPI mechanism in which the amount equivalent to the Bid Amount is blocked. Further, the Bidder shall enclose the Acknowledgement Slip or provide the acknowledgement number received from the Designated Intermediaries in addition to the documents/information mentioned hereinabove.

All grievances relating to Bids submitted with Registered Brokers, may be addressed to the Stock Exchanges, with a copy to the Registrar to the Offer. Further, Bidders shall also enclose a copy of the Acknowledgment Slip received from the Designated Intermediaries in addition to the information mentioned hereinabove. In terms of the SEBI Master Circular no. SEBI/HO/CFD/PoD-1/P/CIR/2024/0154 dated November 11, 2024 (to the extent applicable), any ASBA Bidder whose Bid has not been considered for Allotment, due to failure on the part of any SCSB, shall have the option to seek redressal of the same by the concerned SCSB within three months of the date of listing of the Equity Shares. In terms of the SEBI Circular no. SEBI/HO/CFD/DIL2/P/CIR/2022/75 dated May 30, 2022 and SEBI Master Circular no. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/91 dated June 23, 2025, SCSBs are required to compensate the investor immediately on the receipt of complaint. Further, the BRLM are required to compensate the investor for delays in grievance redressal from the date on which the grievance was received until the actual date of unblock. Further, the Bidder shall also enclose a copy of the Acknowledgment Slip or provide the acknowledgement number received from the Designated Intermediaries in addition to the information mentioned hereinabove. All grievances relating to Bids submitted through Registered Brokers may be addressed to the Stock Exchanges with a copy to the Registrar to the Offer. The Registrar to the Offer shall obtain the required information from the SCSBs for addressing any clarifications or grievances of ASBA Bidders. All grievances of the Anchor Investors may be addressed to the Registrar to the Offer, giving full details suchas the name of the sole or First Bidder, Bid cum Application Form number, Bidders’ DP ID, Client ID, PAN,date of the Bid cum Application Form, address of the Bidder, number of the Equity Shares applied for, Bid Amount paid on submission of the Bid cum Application Form and the name and address of the BRLM with whom the Bid cum Application Form was submitted by the Anchor Investor. Book Running Lead Manager DAM Capital Advisors Limited Altimus 2202, Level 22, Pandurang Budhkar Marg, Worli, Mumbai – 400018, Maharashtra, India Tel: +(91 22) 4202 2500 E-mail: prasol.ipo@damcapital.in Website: www.damcapital.in Investor grievance e-mail: complaint@damcapital.in Contact person: Chandresh Sharma / Puneet Agnihotri SEBI Registration No: MB/INM000011336 Inter-se allocation of responsibilities DAM Capital Advisors Limited is the sole Book Running Lead Manager to the Offer, and all the responsibilities relating to co-ordination and other activities in relation to the Offer shall be performed by them. Syndicate Members [●] Legal Counsel to our Company as to Indian law Bharucha & Partners 13th Floor, Free Press House, Free Press Journal Marg, Nariman Point Mumbai - 400 001, Maharashtra, India. Tel: +91 22 6132 3900 Statutory Auditors of our Company

C N K & Associates LLP 3rd Floor, Mistry Bhavan, Dinshaw Vachha Road, Churchgate, Mumbai, India, 400020Telephone: 91 22 6623 0600 Email:[diwakar@cnkindia.com](mailto:diwakar@cnkindia.com) Contact Person: Diwakar Sapre Peer review number: 017169 Firm Registration number: 101961W/W-100036 Changes in the auditors Except as provide below: there has been no change in the Statutory Auditors of our Company during the last 3 years preceding the date of this Draft Red Herring Prospectus: *S.V. Shanbhag & Co. and C N K & Associates LLP were appointed as joint auditors on January 15, 2022. Registrar to the Offer KFin Technologies Limited 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 E-mail: prasol.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M. Murali Krishna SEBI registration no.: INR000000221 Banker(s) to the Offer Escrow Collection Bank [●] Public Offer Bank [●] Refund Bank [●] Sponsor Banks [●] Bankers to our Company

CITI Bank First International Finance Centre (FIFC), 10th Floor, C-54 & 55, G Block, BKC, Bandra East, Mumbai - 400051 Tel No: +91 22 4955 2425 Website: https://www.online.citibank.co.in Contact Person: Jyoti Mohata Email: jyoti.mohata@citi.com DBS Bank India Limited Ground Floor, Nos. 11 & 12, Capitol Point, Baba Kharak Singh Marg, Connaught Place, New Delhi – 110001 Tel No: 75064 06153 Website:https://www.dbs.com/in/index/default.page Contact Person: Saiprasad Shetye Email: saiprasadshetye@dbs.com HDFC Bank Limited 4th Floor, Tower B, Peninsula Business Park, Lower Parel, Mumbai – 400 013. Tel No: 022 3395 8231 Website: https://www.hdfcbank.com Contact Person: Shweta Doke Email: shweta.doke@hdfcbank.com ICICI Bank Ltd ICICI Tower, BKC Tel No: +91 77383 55614 Website: https://www. icicibank.com Contact Person: Prasenjit Paik Email: prasenjit.paik@icicibank.com IDBI Bank Limited Specialized Corporate Branch, Nariman Point, 2nd Floor, B Wing, Mittal Court, Nariman Point, Mumbai-400021, Maharashtra Tel No: 022-61279324 Website: https://www.idbibank.in Contact Person: Dharmendra Patidar Email: dharmendra.patidar@idbi.co.in Kotak Mahindra Bank Limited 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai-400051 Tel No: 073045 71145 Website: www.kotak.com Contact Person: Kaizin Engineer Email: Kaizin.engineer@kotak.com Designated Intermediaries Self-Certified Syndicate Banks The list of SCSBs notified by SEBI for the ASBA process is available at http://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognised=yes, or at such other website as may be prescribed by SEBI from time to time. A list of the Designated SCSB Branches with which an ASBA Bidder (other than UPI Bidders using the UPI Mechanism), not Bidding through Syndicate/Sub Syndicate or through a Registered Broker, RTA or CDP may submit the Bid cum Application Forms, is available at https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=34, or at such other websites as may be prescribed by SEBI from time to time. SCSBs and mobile applications enabled for UPI Mechanism In accordance with SEBI Circular bearing number SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, SEBI Circular bearing number SEBI/HO/CFD/DIL2/CIR/P/2019/85 dated July 26, 2019, SEBI Circular No. SEBI/HO/CFD/DIL2/CIR/P/2022/45 dated April 5, 2022, and SEBI Master Circular no. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/91 dated June 23, 2025, UPI Bidders using the UPI Mechanism may only apply through the SCSBs and mobile applications whose names appears on the website of the SEBI which may be updated from time to time. A list of SCSBs and mobile applications, which are live for applying in public issues using UPI Mechanism is available on https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=40 for SCSBs and https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=43 for mobile applications or at such other websites as may be prescribed by SEBI from time to time. Syndicate SCSB Branches In relation to Bids (other than Bids by Anchor Investor and RIBs) submitted under the ASBA process to a member of the Syndicate, the list of branches of the SCSBs at the Specified Locations named by the respective SCSBs to receive deposits of Bid cum Application Forms from the members of the Syndicate is available on

- 2. Preference Share capital Our Company does not have any preference share capital as on the date of this Draft Red Herring Prospectus. - 3. Secondary transactions of Equity Shares of our Company For details of secondary transactions of Equity Shares of our Company involving our Promoters, see‘Capital Structure - Build-up of Promoters’ shareholding in our Company’ on page131. - 4. Details of shares issued for consideration other than cash or by way of bonus issue or out of revaluation reserves Except as set forth below, we have not issued any Equity Shares for consideration other than cash or by way of a bonus issue or out of revaluation reserves.

- 13. Details of Shareholding of our Directors and Key Managerial Personnel in our Company Except as disclosed in “Our Management – Shareholding of Directors in our Company” on page315, none of our Directors or Key Managerial Personnel hold any Equity Shares in our Company. - 14. Our Company presently does not intend or propose to alter its capital structure for a period of six months from the Bid/Offer Opening Date, by way of split or consolidation of the denomination of Equity Shares, or by way of further issue of Equity Shares (including issue of securities convertible into or exchangeable, -

- - directly or indirectly for Equity Shares), whether on a preferential basis, or by way of issue of bonus Equity Shares, or on a rights basis, or by way of qualified institutional placement, or by way of further public issue of Equity Shares, or otherwise. - 15. History of Equity Share capital build-up, contribution and lock-in of Promoters’ shareholding Build-up of Promoters’ shareholding in our Company - a. As on the date of this Draft Red Herring Prospectus, our Promoters collectively hold 23,930,000 Equity Shares aggregating 41.26 % of the issued, subscribed and paid-up Equity Share capital of our Company (as first holders only). - b. Set forth below is the build-up of the equity shareholding of our Promoters, since incorporation of our Company, for the Equity Shares which are held by them as first holders.

^ Equity Shares of face value of ₹ 2 held in two different accounts - f. Other than as set out below, none of our Directors, Promoters or the members of our Promoter Group or their relatives have purchased or sold any specified securities of our Company during the period of 6 months immediately preceding the date of this Draft Red Herring Prospectus:

* Also, the Joint Managing Director of our Company - g. There have been no financing arrangements whereby our Promoters, the members of our Promoter Group, our Directors and their relatives have financed the purchase, by any other person of securities, of our Company during the period of 6 months immediately preceding the date of this Draft Red Herring Prospectus. - h. For details of the equity shares acquired by our Promoters in the one year and three years immediately preceding the date of this Draft Red Herring Prospectus, please see “Capital Structure - Build-up ofour Promoters’ shareholding in our Company” on page131. - i. Except as disclosed below, none of the members of our Promoter Group and the Selling Shareholders have acquired any Equity Shares of our Company in the one year and three years immediately preceding the date of this Draft Red Herring Prospectus (as first holders, as applicable): *Acquired pursuant to a gift ^As certified by Shah Mulewa & Associates, Chartered Accountants (Firm Registration Number: 0143170W) pursuant to a certificate dated October 14, 2025. - j. There are no shareholders who are entitled to nominate directors or have any other special rights. - 16. Details of shareholding of the Selling Shareholders The shareholding of the Selling Shareholders and the number of Offered Shares being offered in the Offer for Sale by each of the Selling Shareholder is set out below:

Unless otherwise indicated, industry and market data used in this section has been derived from industry report titled ‘Industry Report on Specialty Chemicals Sector’ prepared and issued by CARE, appointed by us pursuant to engagement letter dated December 30, 2024 exclusively commissioned and paid for by us in connect with the Offer. Unless otherwise indicated, all industry and other related information derived from the CARE Report and included herein with respect to any particular year refers to such information for the relevant calendar year. CARE was appointed by our Company and is not connected to our Company, our Directors, our Promoters, our Key Managerial Personnel, or our members of Senior Management or the BRLM. A copy of the CARE Report is available on the website of our Company at www.prasolchem.com/investor-relations/ from the date of the Draft Red Herring Prospectus till the Bid/ Offer Closing Date. This section is a general summary of the terms of the Offer and of certain disclosures included in this Draft Red Herring Prospectus and is not exhaustive, nor does it purport to contain a summary of all the disclosures in this Draft Red Herring Prospectus or all details relevant to prospective investors. This summary should be read in conjunction with, and is qualified in its entirety by, the more detailed information appearing elsewhere in this Draft Red Herring Prospectus, including ‘Risk Factors’, ‘Industry Overview’, ‘Our Business’, ‘Capital Structure’, ‘The Offer’ and ‘Outstanding Litigations and Other Material Developments’ on pages37,200,274,99,83, and434 respectively. Summary of the primary business of our Company Our Company was incorporated in 1992 and with over 33 years of experience in the specialty chemicals industry, we are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries. Our products find diversified applications across numerous industries with 5 key segments being: (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care. As of July 31, 2025 our comprehensive product portfolio comprised over 150 specialty chemical products. Summary of industry According to the CARE Report, India's chemical industry holds a prominent position globally, ranking 6th in production and 14th in exports. Specialty chemicals, particularly agrochemicals, dyes, and pigments, represent more than half of India's chemical exports. Specialty Chemicals, known for their tailored applications, represented 20% of the market share of global chemicals industry in 2024, with growth expected to reach 21–23% market share by 2029, reflecting rising demand for customized and high-performance solutions. The specialty market is expected to grow at CAGR of 8% reaching $1,748 billion until 2029. Asia Pacific holds the largest share, increasing from 51% in 2024 to 54% in 2029. Names of the Promoters Our Promoters are Nishith Rajnikant Shah, Gaurang Natwarlal Parikh, Dhaval Nalin Parikh, Pankil Nishith Dharia, Sachin Jatin Parikh, Rakesh Gupta, Nishith Rasiklal Dharia, Kunal Tushar Dharia, Suketu NavinchandraParikh and Usha Rajnikant Shah. For further details, see ‘Our Promoters and Promoter Group’ on page330. Offer Size - (1) The Offer has been authorised by our Board pursuant to the resolution passed at its meeting dated February 21, 2025, and the Fresh Issue has been authorised by our Shareholders pursuant to a special resolution passed at their meeting dated June 18, 2025. Further, our Board has taken on record the approval for the Offer for Sale by the Selling Shareholders pursuant to the resolution passed at its meeting dated October 14, 2025. - (2) Each Selling Shareholder severally and not jointly confirm that the Equity Shares being offered by the Selling Shareholders are eligible for being offered for sale pursuant to the Offer in terms of Regulation 8 of the SEBI ICDR Regulations. Each of the Selling Shareholder has, severally and not jointly, consented for the sale of their respective -

$ To be computed prior to filing of the Prospectus with the RoC. For further details, see ‘Capital Structure’ on page99.

Note: Subject to the completion of the Offer and finalization of the Basis of Allotment. (1) This will include any transfers of Equity Shares by existing Shareholders until the date of the Prospectus. (2) Based on the Offer price of ₹ [●] and subject to finalisation of the basis of allotment. ^ Equity Shares of face value of ₹ 2 held in two different demat accounts &Equity Shares held through trustees i.e., Sonal Nishith Dharia and Nishith Rasiklal Dharia Summary of selected financial information derived from our Restated Financial Information (in ₹ million, except per share data) *Not annualised Notes: - (1) Net worth means the aggregate value of the paid up share capital of the Company and all reserves created out of profits and securities premium account and credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per Restated Financial - - - -

Financing Arrangements There have been no financing arrangements whereby our Promoters, members of our Promoter Group, our Directors and their relatives have financed the purchase by any other person of securities of our Company, other than in the normal course of business of the relevant financing entity, during a period of 6 months immediately preceding the date of this Draft Red Herring Prospectus. Average Cost of Acquisition of our Promoters and the Selling Shareholders The average cost of acquisition per Equity Share for our Promoters and Selling Shareholders is given below:

AND CURRENCY OF PRESENTATION Certain Conventions All references to ‘India’ contained in this Draft Red Herring Prospectus are to the Republic of India. All references to the ‘Government’, ‘Indian Government’, ‘GoI’, ‘Central Government’ are to the Government of India and all references to the ‘State Government’ are to the government of the relevant state. All references to ‘US’, ‘USA’ or ‘United States’ are to the United States of America, together with its territories and possessions. Page Numbers Unless stated otherwise, all references to page numbers in this Draft Red Herring Prospectus are to the page numbers of this Draft Red Herring Prospectus. Time Unless otherwise specified, any time mentioned in this Draft Red Herring Prospectus is in Indian Standard Time. Unless indicated otherwise, all references to a year in this Draft Red Herring Prospectus are to a calendar year. Financial Data Our Company’s financial year commences on April 1 of the immediately preceding calendar year and ends onMarch 31 of that particular calendar year. Accordingly, all references to a particular Fiscal or Financial Year, unless stated otherwise, are to the 12 month period commencing on April 1 of the immediately preceding calendar year and ending on March 31 of that particular calendar year. Unless stated, or, the context requires, otherwise all financial information and financial ratios in this Draft Red Herring Prospectus is derived from our Restated Financial Information. The Restated Financial Information comprise the restated statement of assets and liabilities as at the three month ended June 30, 2025 and the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023, the restated statement of profit and loss (including other comprehensive income), the restated statement of cash flows, the restated statement of changes in equity and basis of preparation and significant accounting policies for the three month ended June 30, 2025 and the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 and the notes to restated financial information as approved by our Board and prepared in terms of the Section 26 Part I of Chapter III of the Companies Act, SEBI ICDR Regulations and the Guidance Note on Reports in Company Prospectuses (Revised January, 2019) issued by the ICAI, each as amended The Restated Financial Information have been prepared to comply with the Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, (as amended from time to time), presentation requirements of division II of Schedule III to the Companies Act, 2013, as applicable to the financial statementsand other relevant provisions of the Companies Act, 2013. For further information, see ‘Restated Financial Information’ on page342. Non-GAAP Measures Certain measures included and presented in this Draft Red Herring Prospectus, for instance Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity (collectively“Non-GAAP Measures”) are supplemental measures of our performance and liquidity that are not required by, or presented in accordance with, Ind AS, IFRS or U.S. GAAP. Furthermore, these Non-GAAP Measures, are not a measurement of our financial performance or liquidity under Indian GAAP, IFRS or U.S. GAAP and should not be considered as an alternative to net profit/loss, revenue from operations or any other performance measures derived in accordance with Ind AS, IFRS or U.S. GAAP or as an alternative to cash flow from operations or as a measure of our liquidity. In addition, Non-GAAP Measures used are not a standardised term, hence a direct comparison of Non-GAAP Measures between companies may not be possible. Other companies may calculate Non-GAAP Measures differently from us, limiting its usefulness as a comparative measure. For further details see“Management’s Discussion and Analysis of Financial Condition and Results of Operations - Non-GAAP Measures” and ‘Risk Factor – Certain non-GAAP financial measures and certain other statistical information relating to our operations and financial performance such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity have been included in this Draft Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.’ on page420 and71.

There are significant differences between Ind AS, U.S. GAAP and IFRS. Please see ‘Risk Factor – Significant differences exist between Ind AS and other accounting principles, such as U.S. GAAP and IFRS, which may be material to the Restated Financial Information prepared and presented in accordance with SEBI ICDRRegulations contained in this Draft Red Herring Prospectus’ on page71. Our Company does not provide reconciliation of its financial information to IFRS or U.S. GAAP. Our Company has not attempted to explain those differences or quantify their impact on the financial data included in this Draft Red Herring Prospectus and it is urged that you consult your own advisors regarding such differences and their impact on our financial data. Accordingly, the degree to which the financial information included in this Draft Red Herring Prospectus will provide meaningful information is entirely dependent on the reader’s level of familiarity with Indian accountingpolicies and practices, the Companies Act, Ind AS, and the SEBI ICDR Regulations. Any reliance by persons not familiar with Indian accounting policies and practices on the financial disclosures presented in this Draft Red Herring Prospectus should, accordingly, be limited. In this Draft Red Herring Prospectus, any discrepancies in any table between the total and the sums of the amounts listed are due to rounding off. Except as stated otherwise, all figures in decimals have been rounded off to the second decimal and all percentage figures have been rounded off to two decimal places. In certain instances, (i) the sum or percentage change of such numbers may not conform exactly to the total figure given; and (ii) the sum of the numbers in a column or row in certain tables may not conform exactly to the total figure given for that column or row. Any figures sourced from third-party industry sources may be rounded off to other than two decimal points to conform to their respective sources. Currency and Units of Presentation In this Draft Red Herring Prospectus, unless the context otherwise requires, all references to (a) ‘Rupees’ or ‘₹’ or ‘Rs.’ or ‘INR’ are to Indian Rupees, the official currency of the Republic of India; (b) ‘US Dollars’ or ‘US$’ or ‘USD’ or ‘$’ are to United States Dollars, the official currency of the United States of America. Our Company has presented certain numerical information in this Draft Red Herring Prospectus in ‘million’ units,or in absolute number where the number have been too small to present in million unless as stated, otherwise, as applicable. 1 million represents ‘10 lakhs’ or 1,000,000. However, where any figures that may have been sourcedfrom third-party industry sources are expressed in denominations other than million, such figures appear in this Draft Red Herring Prospectus expressed in such denominations as provided in their respective sources. Any percentage amounts, as set forth in ‘Risk Factors’, ‘Our Business’, ‘Management’s Discussion and Analysis of Financial Conditions and Results of Operations’ on pages37,274, and416 and elsewhere in this Draft Red Herring Prospectus, unless otherwise indicated, have been calculated based on our Restated Financial Information. Exchange Rates This Draft Red Herring Prospectus contains conversion of certain other currency amounts into Indian Rupees that have been presented solely to comply with the SEBI ICDR Regulations. These conversions should not be construed as a representation that these currency amounts could have been, or can be converted into Indian Rupees, at any particular rate or at all. The following table sets forth, for the periods indicated, information with respect to the exchange rate referred to for the purpose of conversion of foreign currency amounts into Rupee amounts between the Rupees and USD: (In ₹) Source: RBI reference rate and[www.fbil](http://www.fbil/).org.in Note: If the reference rate is not available on a particular date due to a public holiday, exchange rates of the previous Working Day has been disclosed. The reference rates are rounded off to two decimal places. Industry and Market Data

Unless stated otherwise, industry and market data used in this Draft Red Herring Prospectus has been obtained or derived from publicly available information as well as a report titled ‘Industry Report on Specialty Chemicals Sector’ dated October 7, 2025, prepared and issued by CARE Analytics and Advisory Private Limited (CARE), appointed by us pursuant to an engagement letter dated December 30, 2024, and exclusively commissioned and paid for by us for the purposes of confirming our understanding of the industry in connection with the Offer (CARE Report) in connection with the Offer. Additionally, certain industry related information in “Industry Overview”, “Our Business”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Conditionand Results of Operation” on pages200,274,37 and416, respectively, has been derived from the CARE Report. A copy of the CARE Report is available on the website of our Company at www.prasolchem.com/investor- relations/ from the date of this Draft Red Herring Prospectus until the Bid/Offer Closing Date and has also beenincluded in “Material Contracts and Documents for Inspection-Material Documents” on page514. CARE, pursuant to their consent letter dated October 7, 2025 has accorded their no objection and consent to use the CARE Report, in full or in part, in relation to the Offer. CARE was appointed by our Company and pursuant to their consent letter, has confirmed that they are an independent agency, and that they are not connected to our Company, our Directors, KMPs, members of Senior Management, our Promoters and Book Running Lead Manager. Forrisks in relation to commissioned reports, see ‘Risk Factor – This Draft Red Herring Prospectus contains information from an industry report prepared by CARE which we have commissioned and paid for.’ on page71. Except for the CARE Report, we have not commissioned any report for purposes of this Draft Red Herring Prospectus and any market and industry related data, other than that derived from the CARE Report, used in this Draft Red Herring Prospectus has been obtained or derived from publicly available documents and other industry sources. While there are excerpts from the CARE Report that have been reordered or re-classified by us for the purposes of presentation in this Draft Red Herring Prospectus, there are no material parts, information or data from the CARE Report which would be relevant for the Offer and that have been left out or changed in any manner. The data used in these sources may have been for the purposes of presentation. Data from these sources may also not be comparable, on account of there being no standard data gathering methodologies in the industry in which the business of our Company is conducted, and methodologies and assumptions may vary widely among different industry sources. Accordingly, the extent to which the market and industry data used in this Draft Red HerringProspectus is meaningful depends on the reader’s familiarity with and understanding of the methodologies usedin compiling such data. Disclaimer Industry sources and publications generally state that the information contained therein has been obtained from sources generally believed to be reliable, but their accuracy, completeness and underlying assumptions are not guaranteed, and their reliability cannot be assured and accordingly, investment decisions should not be based on such information. The data used in these sources may have been re-classified by us for the purposes of presentation. Data from these sources may also not be comparable. Industry sources and publications are also prepared based on information as of specific dates and may no longer be current or reflect current trends. Industry sources and publications may also base their information on estimates, projections, forecasts and assumptions that may prove to be incorrect. Such data involves risks, uncertainties and numerous assumptions and is subject tochange based on various factors, including those discussed in the ‘Risk Factors’ on page37. Accordingly, investors should not place undue reliance on, or base their investment decision on this information. Further, the extent to which the market and industry data used in this Draft Red Herring Prospectus is meaningfuldepends on the reader’s familiarity with and understanding of the methodologies used in compiling such data.There are no standard data gathering methodologies in the industry in which we conduct our business, and methodologies and assumptions may vary widely among different industry sources. In addition, certain data in relation to our Company used in this Draft Red Herring Prospectus has been obtained or derived from the CARE Report which may differ in certain respects from our Restated Financial Information as a result of, inter alia, the methodologies used in compiling such data. Accordingly, investment decision should not be made based on such information. In accordance with the SEBI ICDR Regulations, “Basis for Offer Price” on page184. includes information relating to our peer group companies. Such information has been derived from publicly available sources specified herein.

This Draft Red Herring Prospectus contains certain “forward-looking statements”. All statements regarding our expected financial condition and results of operations, business, plans and prospects are forward looking statements, which include statements with respect to our business strategy, our revenue and profitability, our goals and other matters discussed in this Draft Red Herring Prospectus regarding matters that are not historical facts. These forward-looking statements generally can be identified by words or phrases such as “aim”, “anticipate”, “believe”, “can”, “could”, “expect”, “estimate”, “intend”, “may”, “likely”, “objective”, “plan”, “propose”, “project”, “seek to”, “will”, “will achieve”, “will continue”, “will pursue” or other words or phrases of similarimport but are not the exclusive means of identifying such statements. Similarly, statements that describe our strategies, objectives, plans, goals, future events, future financial performance, or financial needs are also forward- looking statements. All forward-looking statements are subject to risks, uncertainties, expectations, and assumptions about us that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements, whether made by us or a third-party, are based on our current plans, estimates, presumptions and expectations and actual results may differ materially from those suggested by forward-looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions about us that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. This could be due to risks or uncertainties associated with our expectations, with respect to but not limited to regulatory changes pertaining to the industries in India in which we operate and our ability to respond to them, our ability to successfully implement our strategy, our growth and expansion, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on its business activities or investments, the monetary and fiscal policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic laws, regulations and taxes and changes in competition in the industries in which we operate. Certain important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the following: - 1. Our business and the demand for our products is reliant on the success of our customers’ products with end consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. - 2. Our business is reliant on certain key customers. Our top 10 customers contributed 23.91%, 21.96%, 18.46% and 23.27% of our total revenue from operations during three month period ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. The loss of any of these customers or loss of revenue from sales to any key customers could have a material adverse effect on our business, financial condition, results of operations and cash flows. - 3. Our business is dependent on our manufacturing facilities and we are subject to certain related risks. 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. - 4. We do not have long-term agreements with most of our suppliers or customers and the loss of one or more of them or a reduction in their demand for our products could adversely affect our business, results of operations, financial condition and cash flows. Further, our inability to accurately forecast demand for our products or manage our inventory or working capital requirements may have an adverse effect on our business, results of operations and financial condition. - 5. We are susceptible to risks arising out of export of our products to 69 countries and with doing business internationally, including international market conditions and regulatory risks. - 6. Our inability to accurately forecast demand for our products and manage our inventory or working capital balances may have an adverse effect on our business, results of operations, cash flows and financial condition.

An investment in equity shares involves a high degree of risk. You should carefully consider each of the following risk factors together with all other information set forth in this Draft Red Herring Prospectus, including the risks and uncertainties described below, before making an investment in the Equity Shares. The risks and uncertainties described below are not the only risks that we currently face or are relevant to us, our Equity Shares, the industry in which we operate or to India or the other geographies in which we sell our products. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business, prospects, results of operations, cashflows and financial condition. In order to obtain a completeunderstanding about us, investors should read this section in conjunction with “Our Business”, “Industry Overview”, and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” onpages274,200 and416, respectively, as well as the financial statements, including the notes thereto, and other financial information included elsewhere in this Draft Red Herring Prospectus. If any or some combination of the following risks, or other risks that are not currently known or believed to be adverse, actually occur, our business, results of operations, cashflows and financial condition could suffer, the trading price of, and the trading price of the Equity Shares could decline, and you may lose all or part of your investment. In making an investment decision with respect to this Offer, you must rely on your own examination of our Company, our business, and the terms of this Offer, including the merits and risks involved and you should consult your tax, financial and legal advisors about the particular consequences to you of an investment in the Equity Shares. Prospective investors should pay particular attention to the fact that our Company is incorporated under the laws of India and is subject to a legal and regulatory environment, which may differ in certain respects from that of other countries. This Draft Red Herring Prospectus also contains forward-looking statements that involve risks, assumptions, estimates and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the considerations described below and elsewhere in this Draft Red Herring Prospectus. See “Forward-Looking Statements” onpage35. Unless otherwise stated or the context otherwise requires, the financial information used in this section is derivedfrom our Restated Financial Information. For further details, please see “Restated Financial Information” onpage342. Unless otherwise indicated, industry and market data used in this section has been derived from industry publications, in particular, the report titled ‘Industry Report on Speciality Chemicals Sector’ dated October 7, 2025 (CARE Report), prepared and issued by CARE, exclusively commissioned and paid for by our Company in connection with the Offer. Unless otherwise indicated, all financial, operational, industry and other related information derived from the CARE Report and included herein with respect to any particular year, refers to such information for the relevant calendar year. CARE was appointed by our Company and is not connected to our Company, our Directors, our Promoters, our Key Managerial Personnel, Senior Management or BRLM. A copy of the CARE Report is available on the website of our Company at https://prasolchem.com/investor-relations/. For further information, see ‘Risk Factor - Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company’ on page71. Also see ‘Certain Conventions, Presentation of Financial, Industry and Market Data and Currency of Presentation’ on page32. Internal Risk Factors - 1. Our business and the demand for our products is reliant on the success of our customers’ products withend consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. We are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries and our revenue is attributable to (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care (Application Industries). Set out below is our product offering along with the revenue generated, in terms of percentage of the revenue from operations, from each of our product categories, in the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: - -

of the date of this Draft Red Herring Prospectus, there are no material approvals which have been applied forand are yet to be received by our Company. For details, see “Government and Other Approvals” on page440. The approvals required by us are subject to numerous conditions and we cannot assure you that these would not be suspended or revoked in the event of non-compliance or alleged non-compliance with any terms or conditions thereof, or pursuant to any regulatory action. Any failure by us to comply with the applicable regulations in the future, or if the regulations governing our business are amended, we may incur increased costs, be subject to penalties, have our approvals and permits revoked or suffer a disruption in our operations, any of which could adversely affect our business. In case we fail to comply with these requirements, or a regulator alleges non-compliance with these requirements, we may be subject to penalties and proceedings may be initiated against us. The introduction of additional government control or newly implemented laws and regulations, depending on the nature and extent thereof and our ability to make corresponding adjustments, may adversely affect our business, results of operations and financial conditions. These laws and regulations and the way in which they are implemented and enforced may change from time to time and there can be no assurance that future legislative or regulatory changes will not have an adverse effect on our business, financial condition, cash flows and results of operations. - 26. The success of our business and operations are dependent upon certain quality accreditations which are valid for a limited time period. An inability to renew such accreditations in a timely manner, or at all, may adversely affect our business and prospects. Our Khopoli and Mahad manufacturing facilities in Maharashtra is certified by ISO 9001:2015, ISO45001:2018 and ISO 14001:2015 from Bureau Veritas. For further details, please see “Our Business –Manufacturing Facilities” on page288. Receipt of certifications and accreditations under the standards of quality is important for the success and wide acceptability of our products. To ensure continued accreditation with such agencies, we must ensure consistency and maintain the quality of our products and our manufacturing processes. If we fail to comply with the requirements for applicable quality standards, or if we are otherwise unable to obtain or renew such quality accreditations in the future, in a timely manner, or at all, our reputation, business and prospects may be adversely affected. - 27. We are susceptible to product liability claims, which may require substantial expenditure and may adversely affect our reputation and if successful, could require us to pay substantial sums. Our business inherently exposes us to potential product liability claims, and the severity and timing of such claims are unpredictable. Presently, our insurance policies, do not cover the product liability claims. We face the risk of loss resulting from, and the adverse publicity associated with, product liability lawsuits, whether or not such claims are valid. While our products are extensively researched before being commercialized, any adverse effects caused by such products could adversely affect our business and reputation. We may also be subject to claims resulting from manufacturing defects or negligence in storage or handling, which may lead to the deterioration of our products, or from defects arising from deterioration in our quality controls. While we have not experienced any product liability claims in the past, product liability claims, regardless of their merits or the ultimate success of the defence against them, are expensive. Even unsuccessful product liability claims would likely require us to incur substantial amounts on litigation, divert our management’s time,adversely affect our goodwill and impair the marketability of our products. - 28. Our operations are dependent on continuous R&D to develop and commercialise new products and our inability to identify and understand evolving industry trends, technological advancements, customerpreferences and develop new products to meet our customers’ demands may adversely affect our business. For a company engaged in the manufacture of speciality chemicals, which includes complex chemistries, R&D is a necessary component of business and corporate success and growth. As of July 31, 2025, we had a portfolio of over 150 specialty chemical products which enables us to cater to existing and will enable us to cater to new customers and markets, and a pipeline of 40 products which are at various stages of development (out of which 9 have cleared pilot stage) which we expect will enable us to deepen our engagement with existing customers and garner new customers. Our success depends significantly on our ability to commercialize our new products. In order to remain competitive, we must develop, test and manufacture new products, which must meet regulatory standards and receive requisite regulatory approvals. We believe that our focus on product innovation through continuous research and development has been critical to the growth

amendments to our Memorandum and Articles of Association, the approval of a merger, amalgamation or sale of our assets and the approval of most other actions requiring the approval of our Shareholders. The interests of our Promoters may be different from or conflict with the interests of our other Shareholders. - 50. Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company. Certain sections of this Draft Red Herring Prospectus include information based on, or derived from, the CARE Report or extracts of the CARE Report, which is not related to our Company, Directors or Promoters. We exclusively commissioned and paid for this report for the purpose of confirming our understanding of the industry in connection with the Offer. All such information in this Draft Red Herring Prospectus indicates the CARE Report as its source. Accordingly, any information in this Draft Red Herring Prospectus derived from, or based on, the CARE Report should be read taking into consideration the foregoing. Industry sources and publications are also prepared based on information as of specific dates and may no longer be current or reflect current trends. Industry sources and publications may also base their information on estimates, projections, forecasts and assumptions that may prove to be incorrect. While industry sources take due care and caution while preparing their reports, they do not guarantee the accuracy, adequacy or completeness of the data. Further, the CARE Report is not a recommendation to invest / disinvest in any company covered in the CARE Report. You should consult your own advisors and undertake an independent assessment of information in this Draft Red Herring Prospectus based on, or derived from, the CARE Report before making any investment decision regarding the Offer. - 51. We cannot assure payment of dividends on the Equity Shares in the future. Our ability to pay dividends in the future will depend upon our earnings, financial condition, cash flows and capital requirements. While our Company has declared dividends during Fiscal 2025, Fiscal 2024 and Fiscal 2023, our Company cannot assure you that it will be able to declare dividends, of any particular amount or with any frequency in the future. For further details, see the ‘Dividend Policy’ at page341.Our Company’s ability to pay dividends in the future will depend upon a variety of factors, including our profitability, general financial conditions, capital requirements, results of operations, contractual obligations including terms and conditions of the financing agreements executed by our Company with lenders, overall financial position, applicable Indian legal restrictions, our Company’s Articles of Association, and other factors considered relevant by the Board of Directors of our Company. Further, our Promoters and Promoter Group will continue to hold a substantial portion of our post-Offer paid-up Equity Share capital and may have a significant ability to control the payment and/or the rate of dividends. Further, our Company may or may not grant the benefit of a tax treaty (where applicable) to a non-resident shareholder for the purposes of deducting tax at source from such dividend. Investors should consult their own tax advisors about the consequences of investing or trading in the Equity Shares. - 52. Significant differences exist between Ind AS and other accounting principles, such as U.S. GAAP and IFRS, which may be material to the Restated Financial Information prepared and presented in accordance with SEBI ICDR Regulations contained in this Draft Red Herring Prospectus. We have not attempted to quantify the impact of U.S. GAAP or any other system of accounting principles on the financial data, prepared and presented in accordance with Ind AS for three month ended June 30, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023 included in this Draft Red Herring Prospectus, nor do we provide a reconciliation of our financial statements to those of U.S. GAAP or any other accounting principles. U.S. GAAP differs in significant respects from Ind AS. Accordingly, the degree to which the Restated Financial Information included in this Draft Red Herring Prospectus will provide meaningful information is entirely dependent on the reader's level of familiarity with Ind AS and SEBI ICDR Regulations. Any reliance by persons not familiar with Indian accounting practices on the financial disclosures presented in this Draft Red Prospectus should accordingly be limited. Additionally, Ind AS differs in certain respects from IFRS and therefore financial statements prepared under Ind AS may be substantially different from financial statements prepared under IFRS. - 53. Certain non-GAAP financial measures and certain other statistical information relating to our operations and financial performance such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity have been included in this Draft Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.

This Draft Red Herring Prospectus includes certain non-GAAP ratios such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity (collectively “Non- GAAP Measures”), which are supplemental measures of our performance and liquidity and are not requiredby, or presented in accordance with, Ind AS, IFRS or US GAAP. Further, these Non-GAAP Measures are not a measurement of our financial performance or liquidity under Ind AS, IFRS or US GAAP and should not be considered in isolation, or as a substitute for financial information presented in Restated Financial Information, as prepared in accordance with Ind AS. There are significant limitations to using Non-GAAP Measures as measures of performance, including the lack of comparability of results of operations of different companies and different methods of calculating Non-GAAP Measures reported by different companies. - 54. Our Company proposes to utilize up to ₹ 600.00 million from the Net Proceeds to repay or prepay, in full or in part, all or certain outstanding borrowings availed by our Company. We may not be able to derive the expected benefits of the deployment of the Net Proceeds, in a timely manner, or at all. As of August 31, 2025, our total sanctioned and outstanding indebtedness (excluding accrued interest) was ₹ 4,541.00 million and ₹ 2,961.05 million, respectively. Our Company proposes to utilise an estimated amount of ₹ 600.00 million from the Net Proceeds towards full or partial repayment or pre-payment of certain borrowings availed by our Company. The details of the borrowings identified to be repaid/pre-paid using theNet Proceeds have been disclosed in ‘Objects of the Offer’ on page173. Our Company may avail further loans after the date of this Draft Red Herring Prospectus. We believe that such repayment/ pre-payment will help deleverage our Company, i.e. assist us in maintaining an optimal debt-equity ratio, reduce our debt servicing costs, improve our return on capital employed, and enable utilisation of our Company’s internal accruals for further investment in our Company’s business growth and expansion. Additionally, our Companybelieves that our capacity to leverage will improve our ability to raise further resources at competitive rates and additional funds/ capital in the future to fund potential business development opportunities and plans to grow and expand our business. However, we cannot assure you that the re-payment /pre-payment of such borrowings will generate the benefits that we expect. Further, given the nature of these borrowings and the terms of repayment or pre-payment, the aggregate outstanding amounts under these borrowings may vary from time to time and our Company may, in accordance with the relevant repayment schedule, repay or refinance some of our existing borrowings or avail of additional credit facilities. Further, the deployment of the Net Proceeds will also not be monitored by a monitoring agency. - 55. Any variation in the utilisation of proceeds from the Fresh Issue shall be subject to applicable law. The funding requirements and the deployment of the proceeds from the Fresh Issue are based on the current business plan, current conditions, internal management estimates and strategy of our Company, which may be subject to changes. Accordingly, prospective investors in the Offer will need to rely upon our management’s judgment with respect to the use of Net Proceeds. Various risks and uncertainties, such as economic trends and business requirements, competitive landscape, as well as general factors affecting our results of operations, financial condition and access to capital, may limit or delay our efforts to use the Net Proceeds to achieve profitable growth in our business. Thus, the use of the Net Proceeds for the purposes identified by our management may not result in actual growth of our business, increased profitability or an increase in the value of our business and your investment. Further, in accordance with Sections 13(8) and 27 of the Companies Act 2013, we cannot undertake any variation in the utilisation of the Net Proceeds without obtaining the shareholders’ approval through a special resolution. In the event of any such circumstances that require us to undertake variation in the disclosed utilisation of the Net Proceeds, we may not be able to obtain the shareholders’ approval in a timely manner, or at all. Any delay or inability in obtaining such shareholders’ approval may adversely affect our business or operations. However, we will have flexibility in utilizing the balance Net Proceeds, if any, for general corporate purposes, subject to such utilisation not exceeding 25% of the Gross Proceeds from the Fresh Issue in accordance with Regulation 7(2) of the SEBI ICDR Regulations. Additionally, our Promoters would be required to provide an exit opportunity to Shareholders who do not agree with our proposal to change the objects of the Offer or vary the terms of such contracts, at a price and manner as prescribed by applicable SEBI regulations. Additionally, the requirement on the Promoters to provide an exit opportunity to such dissenting shareholders may deter the Promoters from agreeing to the variation of the proposed utilisation of the Net Proceeds, even if such variation is in the interest of our Company. Further, we cannot assure you that the Promoters of our Company will have adequate resources at

their disposal at all times to enable them to provide an exit opportunity at the price prescribed by SEBI. In light of these factors, we may not be able to undertake variation of objects of the Issue to use any unutilized proceeds of the Offer, if any, or vary the terms of any contract referred to in this Draft Red Herring Prospectus, even if such variation is in the interest of our Company. This may restrict our Company’s ability to respond to any change in our business or financial condition by re-deploying the unutilised portion of Net Proceeds, if any, or varying the terms of contract, which may adversely affect our business and results of operations. Thus, we may not be able to utilise the proceeds from the Fresh Issue in this Offer in the manner set out in this Draft Red Herring Prospectus in a timely manner or at all. As a consequence of any increased expenditure, the actual deployment of funds may be higher than estimated. There is no assurance that the deployment ofthe Net Proceeds in the manner intended by us will result in any increase in the value of your investment. - 56. Our Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders are selling Equity Shares in the Offer for Sale and will receive proceeds as part of the Offer for Sale. The Offer includes an Offer for Sale of Equity Shares by the Selling Shareholders. The proceeds from the Offer for Sale will be paid to the Selling Shareholders, and we will not receive any suchproceeds. For further details, see “Objects of the Offer” and “Capital Structure” on pages173 and99, respectively. External Risk Factors - 57. Political, economic or other factors that are beyond our control may have an adverse effect on our business and results of operations. - - • high rates of inflation in India and in countries where we operate our business could increase our costs without proportionately increasing our revenue, and as such decrease our operating margins; - - • any slowdown in economic growth or financial instability in India and in countries where we operate our business; - - • any exchange rate fluctuations, the imposition of currency controls and restrictions on the right to convert or repatriate currency or export assets; - - • any scarcity of credit or other financing, resulting in an adverse impact on economic conditions and scarcity of financing for our expansions; - - • macroeconomic factors and central bank regulation, including in relation to interest rates movements which may in turn adversely impact our access to capital and increase our borrowing costs; - - • prevailing income conditions among consumers and corporates; - - • volatility in, and actual or perceived trends in trading activity on, the relevant market’s principalstock exchanges; - - • changes in existing laws and regulations in India and in countries where we operate our business; - - • political instability, terrorism or military conflict in the region or globally, including in various neighbouring countries; - - • occurrence of natural or man-made disasters; - - - - - - - - - - The Indian economy and capital markets are influenced by economic, political and market conditions in India and globally. Our Company is incorporated in India, and all of our assets and employees are located in India. As a result, we are dependent on prevailing economic conditions in India and our results of operations are affected by factors influencing the Indian economy as well as the economies of the regional markets in which we operate. Further, the following illustrative external risks may have an adverse impact on our business and results of operations, should any of them materialize:

by the adoption of a special resolution by holders of three-fourths of the equity shares voting on such resolution. However, if the law of the jurisdiction that you are in does not permit the exercise of such pre-emptive rights without us filing an offer document or registration statement with the applicable authority in such jurisdiction, you will be unable to exercise such pre-emptive rights, unless we make such a filing. If we elect not to file a registration statement, the new securities may be issued to a custodian, who may sell the securities for your benefit. The value such custodian receives on the sale of any such securities and the related transaction costs cannot be predicted. To the extent that you are unable to exercise pre- emptive rights granted in respect of our Equity Shares, your proportional interests in our Company would be diluted. - 80. QIBs and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Offer Closing Date. Pursuant to the SEBI ICDR Regulations, QIBs and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid. RIBs can revise or withdraw their Bids during the Bid/Offer Period. While our Company is required to complete Allotment pursuant to the Offer within such period as may be prescribed under applicable law, events affecting the Bidders’ decision to invest in the Equity Shares, including adverse changes in international or national monetary policy, financial, political or economic conditions, our business, results of operation or financial condition may arise between the date of submission of the Bid and Allotment. Our Company may complete the Allotment of the Equity Shares even if such events occur, and such events limit the Bidders’ ability to sell the Equity Shares Allotted pursuant to the Offer or cause the trading price of the Equity Shares to decline on listing. - 81. Investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Offer. The Equity Shares will be listed on the Stock Exchanges. Pursuant to applicable Indian laws, certain actions must be completed before the Equity Shares can be listed and trading in the Equity Shares may commence. After the Basis of Allotment is approved by the Designated Stock Exchange, the Company undertakes the Allotment and the demat account of the Allottees with depository participants in India are credited with the Equity Shares. The Allotment of Equity Shares in this Offer, the credit of such Equity Shares to the applicant’s demat account with depository participant and trading in the Equity Shares upon receipt of final listing and trading approvals from the Stock Exchanges is expected to complete within 3 working days of the Bid Closing Date (or such other period as prescribed under applicable laws). There could be a failure or delay in listing of the Equity Shares on the Stock Exchanges. Any failure or delay in obtaining the approval or otherwise commence trading in the Equity Shares would restrict investors’ ability to dispose of their Equity Shares. There can be no assurance that the Equity Shares will be credited to investors’ demat accounts, or that trading in the Equity Shares will commence, within the time periods as specified herein. We could also be required to pay interest at the applicable rates if allotment is not made, unblocking intimation/ refund intimation, as applicable are not dispatched or demat credits are not made to investors within the prescribed time periods. - 82. If security or industry analysts do not publish research or publish unfavourable or inaccurate research about the business of our Company, the price and trading volume of the Equity Shares may decline. The trading market for the Equity Shares may depend, in part, on the research and reports that securities or industry analysts publish about us or our business. We may be unable to sustain coverage by established and, or, prominent securities and industry analysts. If either none or only a limited number of securities or industry analysts maintain coverage of our Company, or if these securities or industry analysts are not widely respected within the general investment community, the trading price for our Equity Shares would be negatively impacted. In the event we obtain securities or industry analyst coverage, if one or more of the analysts downgrade our Equity Shares or publish inaccurate or unfavourable research about our business, our Equity Shares price may decline. If one or more of these analysts cease coverage of our Company or fail to publish reports on us regularly, demand for our Equity Shares could decrease, which might cause the price and trading volume of our Equity Shares to decline.

- - on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. For further details, see ‘Offer Structure’ and ‘Offer Procedure’ on pages492 and469 respectively. - (4) Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category would be allowed to be met with spill-over from any other category or combination of categories, as applicable, at the discretion of our Company, in consultation with the BRLM and the Designated Stock Exchange, subject to applicable law. Undersubscription, if any, in the QIB Portion would not be allowed to be met with spill-over from other categories or a combination of categories. In the event of under-subscription in the Offer, Allotment of valid Bids will be made in the first instance towards subscription of 90% of the Fresh Issue (Minimum Subscription), provided that post satisfaction of the Minimum Subscription, subject to receipt of any remaining valid Bids, (a) such number of Equity Shares will be Allotted towards the Fresh Issue such that 90% of the Fresh Issue is subscribed; (b) upon achieving (a), towards the Offered Shares pursuant to the Offer for Sale on a pro-rata basis in a manner proportionate to the respective portion of the Offered Shares of each Selling Shareholder; and (c) once Equity Shares are Allotted towards (a) and (b) any balance Equity Shares towards the balance 10% of the Fresh Issue portion. For further details, see ‘Offer Procedure’ on page469. - (5) Not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors of which (i) one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 0.20 millionand up to ₹ 1.00 million; and (ii) two third of the Non-Institutional Portion shall be available for allocation to Bidderswith an application size of more than ₹ 1.00 million provided that under-subscription in either of these two sub-categories of Non-Institutional Category specified in (i) and (ii), may be allocated to Bidders in the other sub-category of Non- Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. For further details, including in relation to grounds for rejection of Bids, see ‘Offer Structure’ and ‘OfferProcedure’ on pages492 and469, respectively. For further details of the terms of the Offer, see ‘Terms of theOffer’ on page461.

C N K & Associates LLP 3rd Floor, Mistry Bhavan, Dinshaw Vachha Road, Churchgate, Mumbai, India, 400020Telephone: 91 22 6623 0600 Email:[diwakar@cnkindia.com](mailto:diwakar@cnkindia.com) Contact Person: Diwakar Sapre Peer review number: 017169 Firm Registration number: 101961W/W-100036 Changes in the auditors Except as provide below: there has been no change in the Statutory Auditors of our Company during the last 3 years preceding the date of this Draft Red Herring Prospectus: *S.V. Shanbhag & Co. and C N K & Associates LLP were appointed as joint auditors on January 15, 2022. Registrar to the Offer KFin Technologies Limited 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 E-mail: prasol.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M. Murali Krishna SEBI registration no.: INR000000221 Banker(s) to the Offer Escrow Collection Bank [●] Public Offer Bank [●] Refund Bank [●] Sponsor Banks [●] Bankers to our Company

company secretary in respect of information certified by him, as included in this Draft Red Herring Prospectus; and such consent has not been withdrawn as on the date of this Draft Red Herring Prospectus. Monitoring Agency In accordance with Regulation 41 of the SEBI ICDR Regulations, since the size of the Fresh Issue is less than₹ 1,000 million, our Company is not required to and will not appoint a monitoring agency for this Issue. Forfurther details in relation to the proposed utilisation of the Net Proceeds, see “Objects of the Offer” on page173. Appraising Agency None of the objects of the Offer for which the Net Proceeds will be utilised have been appraised by any agency. Credit Rating As this is an offer of Equity Shares, there is no credit rating for the Offer. IPO Grading No credit rating agency registered with the SEBI has been appointed in respect of obtaining grading for the Offer. Debenture Trustees As this is an offer of Equity Shares, no debenture trustee has been appointed for the Offer. Green Shoe Option No green shoe option is contemplated under the Offer. Filing of the Offer Documents A copy of this Draft Red Herring Prospectus is being filed electronically through the SEBI intermediary portal at https://siportal.sebi.gov.in/intermediary/index.html, as required under Regulation 25(8) of the SEBI ICDR Regulations and in accordance with the SEBI Master Circular no. SEBI/HO/CFD/PoD-1/P/CIR/2024/0154 dated November 11, 2024 and has been emailed to SEBI at cfddil@sebi.gov.in, in accordance with theinstructions issued by the SEBI on March 27, 2020, in relation to “Easing of Operational Procedure –Division of Issues and Listing –CFD” and as specified in Regulation 25(8) of the SEBI ICDR Regulations. A copy of this Draft Red Herring Prospectus will also be filed with the SEBI at the following address: Securities and Exchange Board of India Corporate Finance Department, Division of Issues and Listing SEBI Bhavan Plot No. C4-A “G” Block Bandra Kurla Complex Bandra (East) Mumbai – 400 051 Maharashtra, India A copy of the Red Herring Prospectus, along with the material contracts and documents required to be filed under Section 32 of the Companies Act will be filed with the RoC and a copy of the Prospectus to be filed under Section 26 of the Companies Act will be filed with the RoC. Book Building Process Book building, in the context of the Offer, refers to the process of collection of Bids from investors on the basis of the Red Herring Prospectus and the Bid cum Application Forms (and the Revision Forms) within the Price Band, which will be decided by our Company in consultation with the BRLM, and if not disclosed in

the Red Herring Prospectus, will be advertised in all editions of [●], a widely circulated English national daily newspaper, all editions of [●] a widely circulated Hindi national daily newspaper, and [●] edition of [●], a widely circulated Marathi newspaper (Marathi being the regional language of Maharashtra where our Registered and Corporate Office is located), each with wide circulation, at least two Working Days prior to the Bid/Offer Opening Date and shall be made available to the Stock Exchanges for the purpose of uploading on their respective websites. The Offer Price shall be determined by our Company in consultation with the BRLM after the Bid/Offer Closing Date. For further details, see “Offer Procedure” on page469. All Bidders, except Anchor Investors, are mandatorily required to use the ASBA process for participating in the Offer by providing details of their respective ASBA Account in which the corresponding Bid Amount will be blocked by SCSBs. In addition to this, the RIBs may participate through the ASBA process by either (a) providing the details of their respective ASBA Account in which the corresponding Bid Amount will be blocked by the SCSBs; or (b) through the UPI Mechanism. Anchor Investors are not permitted to participate in the Offer through the ASBA process. In accordance with the SEBI ICDR Regulations, QIBs and Non-Institutional Bidders are not allowed to withdraw or lower the size of their Bids (in terms of the quantity of the Equity Shares or the Bid Amount) at any stage. RIBs Bidding in the Retail Portion can revise their Bids during the Bid/Offer Period and withdraw their Bids until the Bid/Offer Closing Date. Further, Anchor Investors cannot withdraw their Bids after the Anchor Investor Bidding Date. Except for Allocation to RIBs and the Anchor Investors, Allocation in the Offer will be on a proportionate basis. Allocation to the Anchor Investors will be on a discretionary basis. For allocation to the Non-Institutional Bidders, the following shall be followed: - a) One-third of the portion available to Non-Institutional Bidders shall be reserved for Bidders with application size of more than ₹200,000 and up to ₹1,000,000; - b) Two-thirds of the portion available to Non-Institutional Bidders shall be reserved for Bidders with application size of more than ₹1,000,000. Provided that the unsubscribed portion in either of the sub-categories specified under clauses (a) or (b), may be allocated to Bidders in the other sub-category of Non-Institutional Bidders. Each Bidder by submitting a Bid in the Offer, will be deemed to have acknowledged the above restrictions and the terms of the Offer. The Book Building Process under the SEBI ICDR Regulations and the Bidding Process are subject to change from time to time and Bidders are advised to make their own judgment about investment through this process prior to submitting a Bid in the Offer. Bidders should note that the Offer is also subject to obtaining (i) final approval of the RoC after the Prospectus is filed with the RoC; and (ii) final listing and trading approvals from the Stock Exchanges, which our Company shall apply for after Allotment. For further details on the method and procedure for Bidding, see “Offer Structure” and “Offer Procedure” onpages492 and469, respectively. Illustration of Book Building Process and Price Discovery Process For an illustration of the Book Building Process and the price discovery process, see “Offer Procedure” on page469, respectively. Underwriting Agreement The Underwriting Agreement has not been executed as on the date of this Draft Red Herring Prospectus. After the determination of the Offer Price, but prior to the filing of the Prospectus with the RoC, our Company and the Selling Shareholders will enter into an Underwriting Agreement with the Underwriters for the Equity Shares proposed to be offered through the Offer. Subject to applicable laws, extent of underwriting obligations and the Bids to be underwritten in the Offer shall be as per the Underwriting Agreement. It is proposed that

LISTING The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE, and together with BSE, the Stock Exchanges). For the purposes of the Offer, the Designated Stock Exchange shall be [●]. BOOK RUNNING LEAD MANAGER LOGO NAME OF BOOK RUNNING LEAD MANAGER CONTACT PERSON TELEPHONE AND EMAIL DAM Capital Advisors Limited Chandresh Sharma / Puneet Agnihotri Tel: +91 22 4202 2500 E-mail: prasol.ipo@damcapital.in REGISTRAR TO THE OFFER LOGO NAME OF REGISTRAR CONTACT PERSON TELEPHONE AND EMAIL KFin Technologies Limited M Murali Krishna Tel: +91 40 6716 2222/ 1800 309 4001 E-mail: prasol.ipo@kfintech.com BID/OFFER PROGRAMME ANCHOR INVESTOR BIDDING DATE * [•] BID/OFFER OPENS ON [•] BID/OFFER CLOSES ON **^ [•] *Our Company in consultation with the BRLM may consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date. **Our Company in consultation with the BRLM may consider closing the Bid/Offer Period for QIBs one Working Day prior to the Bid/Offer Closing Date in accordance with the SEBI ICDR Regulations. ^ UPI mandate end time and date shall be at 5:00 pm on the Bid/Offer Closing Date.

This Draft Red Herring Prospectus uses certain definitions and abbreviations which, unless the context otherwise implies or requires, or unless otherwise specified, shall have the meaning as assigned below. References to statutes, rules, regulations, guidelines and policies will, unless the context otherwise requires, be deemed to include all amendments, modifications and replacements notified thereto, as of the date of this Draft Red Herring Prospectus, and any reference to a statutory provision shall include any subordinate legislation made from time to time under that provision. In case of any inconsistency between the definitions given below and the definitions contained in the General Information Document (as defined below), the definitions given below shall prevail. The words and expressions used in this Draft Red Herring Prospectus but not defined herein, shall have, to the extent applicable, the meanings ascribed to such terms under the Companies Act, the SEBI ICDR Regulations, the SCRA, the Depositories Act or the rules and regulations made thereunder. Notwithstanding the foregoing,terms in “Industry Overview”, Key Regulations and Policies”, “Statement of Special Tax Benefits”, “Financial Information”, “Basis for Offer Price”, “Outstanding Litigation and Other Material Developments”, “Restriction on Foreign Ownership of Indian Securities” and “Description of Equity Shares and Terms of Articles of Association”, on pages200,297,194,342,184,272,496 and498, respectively, will have the meaning ascribed to such terms in those respective sections. - General terms Company and Shareholders related terms

Unless otherwise indicated, industry and market data used in this section has been derived from industry report titled ‘Industry Report on Specialty Chemicals Sector’ prepared and issued by CARE, appointed by us pursuant to engagement letter dated December 30, 2024 exclusively commissioned and paid for by us in connect with the Offer. Unless otherwise indicated, all industry and other related information derived from the CARE Report and included herein with respect to any particular year refers to such information for the relevant calendar year. CARE was appointed by our Company and is not connected to our Company, our Directors, our Promoters, our Key Managerial Personnel, or our members of Senior Management or the BRLM. A copy of the CARE Report is available on the website of our Company at www.prasolchem.com/investor-relations/ from the date of the Draft Red Herring Prospectus till the Bid/ Offer Closing Date. This section is a general summary of the terms of the Offer and of certain disclosures included in this Draft Red Herring Prospectus and is not exhaustive, nor does it purport to contain a summary of all the disclosures in this Draft Red Herring Prospectus or all details relevant to prospective investors. This summary should be read in conjunction with, and is qualified in its entirety by, the more detailed information appearing elsewhere in this Draft Red Herring Prospectus, including ‘Risk Factors’, ‘Industry Overview’, ‘Our Business’, ‘Capital Structure’, ‘The Offer’ and ‘Outstanding Litigations and Other Material Developments’ on pages37,200,274,99,83, and434 respectively. Summary of the primary business of our Company Our Company was incorporated in 1992 and with over 33 years of experience in the specialty chemicals industry, we are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries. Our products find diversified applications across numerous industries with 5 key segments being: (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care. As of July 31, 2025 our comprehensive product portfolio comprised over 150 specialty chemical products. Summary of industry According to the CARE Report, India's chemical industry holds a prominent position globally, ranking 6th in production and 14th in exports. Specialty chemicals, particularly agrochemicals, dyes, and pigments, represent more than half of India's chemical exports. Specialty Chemicals, known for their tailored applications, represented 20% of the market share of global chemicals industry in 2024, with growth expected to reach 21–23% market share by 2029, reflecting rising demand for customized and high-performance solutions. The specialty market is expected to grow at CAGR of 8% reaching $1,748 billion until 2029. Asia Pacific holds the largest share, increasing from 51% in 2024 to 54% in 2029. Names of the Promoters Our Promoters are Nishith Rajnikant Shah, Gaurang Natwarlal Parikh, Dhaval Nalin Parikh, Pankil Nishith Dharia, Sachin Jatin Parikh, Rakesh Gupta, Nishith Rasiklal Dharia, Kunal Tushar Dharia, Suketu NavinchandraParikh and Usha Rajnikant Shah. For further details, see ‘Our Promoters and Promoter Group’ on page330. Offer Size - (1) The Offer has been authorised by our Board pursuant to the resolution passed at its meeting dated February 21, 2025, and the Fresh Issue has been authorised by our Shareholders pursuant to a special resolution passed at their meeting dated June 18, 2025. Further, our Board has taken on record the approval for the Offer for Sale by the Selling Shareholders pursuant to the resolution passed at its meeting dated October 14, 2025. - (2) Each Selling Shareholder severally and not jointly confirm that the Equity Shares being offered by the Selling Shareholders are eligible for being offered for sale pursuant to the Offer in terms of Regulation 8 of the SEBI ICDR Regulations. Each of the Selling Shareholder has, severally and not jointly, consented for the sale of their respective -

$ To be computed prior to filing of the Prospectus with the RoC. For further details, see ‘Capital Structure’ on page99.

Note: Subject to the completion of the Offer and finalization of the Basis of Allotment. (1) This will include any transfers of Equity Shares by existing Shareholders until the date of the Prospectus. (2) Based on the Offer price of ₹ [●] and subject to finalisation of the basis of allotment. ^ Equity Shares of face value of ₹ 2 held in two different demat accounts &Equity Shares held through trustees i.e., Sonal Nishith Dharia and Nishith Rasiklal Dharia Summary of selected financial information derived from our Restated Financial Information (in ₹ million, except per share data) *Not annualised Notes: - (1) Net worth means the aggregate value of the paid up share capital of the Company and all reserves created out of profits and securities premium account and credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per Restated Financial - - - -

Financing Arrangements There have been no financing arrangements whereby our Promoters, members of our Promoter Group, our Directors and their relatives have financed the purchase by any other person of securities of our Company, other than in the normal course of business of the relevant financing entity, during a period of 6 months immediately preceding the date of this Draft Red Herring Prospectus. Average Cost of Acquisition of our Promoters and the Selling Shareholders The average cost of acquisition per Equity Share for our Promoters and Selling Shareholders is given below:

AND CURRENCY OF PRESENTATION Certain Conventions All references to ‘India’ contained in this Draft Red Herring Prospectus are to the Republic of India. All references to the ‘Government’, ‘Indian Government’, ‘GoI’, ‘Central Government’ are to the Government of India and all references to the ‘State Government’ are to the government of the relevant state. All references to ‘US’, ‘USA’ or ‘United States’ are to the United States of America, together with its territories and possessions. Page Numbers Unless stated otherwise, all references to page numbers in this Draft Red Herring Prospectus are to the page numbers of this Draft Red Herring Prospectus. Time Unless otherwise specified, any time mentioned in this Draft Red Herring Prospectus is in Indian Standard Time. Unless indicated otherwise, all references to a year in this Draft Red Herring Prospectus are to a calendar year. Financial Data Our Company’s financial year commences on April 1 of the immediately preceding calendar year and ends onMarch 31 of that particular calendar year. Accordingly, all references to a particular Fiscal or Financial Year, unless stated otherwise, are to the 12 month period commencing on April 1 of the immediately preceding calendar year and ending on March 31 of that particular calendar year. Unless stated, or, the context requires, otherwise all financial information and financial ratios in this Draft Red Herring Prospectus is derived from our Restated Financial Information. The Restated Financial Information comprise the restated statement of assets and liabilities as at the three month ended June 30, 2025 and the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023, the restated statement of profit and loss (including other comprehensive income), the restated statement of cash flows, the restated statement of changes in equity and basis of preparation and significant accounting policies for the three month ended June 30, 2025 and the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 and the notes to restated financial information as approved by our Board and prepared in terms of the Section 26 Part I of Chapter III of the Companies Act, SEBI ICDR Regulations and the Guidance Note on Reports in Company Prospectuses (Revised January, 2019) issued by the ICAI, each as amended The Restated Financial Information have been prepared to comply with the Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, (as amended from time to time), presentation requirements of division II of Schedule III to the Companies Act, 2013, as applicable to the financial statementsand other relevant provisions of the Companies Act, 2013. For further information, see ‘Restated Financial Information’ on page342. Non-GAAP Measures Certain measures included and presented in this Draft Red Herring Prospectus, for instance Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity (collectively“Non-GAAP Measures”) are supplemental measures of our performance and liquidity that are not required by, or presented in accordance with, Ind AS, IFRS or U.S. GAAP. Furthermore, these Non-GAAP Measures, are not a measurement of our financial performance or liquidity under Indian GAAP, IFRS or U.S. GAAP and should not be considered as an alternative to net profit/loss, revenue from operations or any other performance measures derived in accordance with Ind AS, IFRS or U.S. GAAP or as an alternative to cash flow from operations or as a measure of our liquidity. In addition, Non-GAAP Measures used are not a standardised term, hence a direct comparison of Non-GAAP Measures between companies may not be possible. Other companies may calculate Non-GAAP Measures differently from us, limiting its usefulness as a comparative measure. For further details see“Management’s Discussion and Analysis of Financial Condition and Results of Operations - Non-GAAP Measures” and ‘Risk Factor – Certain non-GAAP financial measures and certain other statistical information relating to our operations and financial performance such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity have been included in this Draft Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.’ on page420 and71.

There are significant differences between Ind AS, U.S. GAAP and IFRS. Please see ‘Risk Factor – Significant differences exist between Ind AS and other accounting principles, such as U.S. GAAP and IFRS, which may be material to the Restated Financial Information prepared and presented in accordance with SEBI ICDRRegulations contained in this Draft Red Herring Prospectus’ on page71. Our Company does not provide reconciliation of its financial information to IFRS or U.S. GAAP. Our Company has not attempted to explain those differences or quantify their impact on the financial data included in this Draft Red Herring Prospectus and it is urged that you consult your own advisors regarding such differences and their impact on our financial data. Accordingly, the degree to which the financial information included in this Draft Red Herring Prospectus will provide meaningful information is entirely dependent on the reader’s level of familiarity with Indian accountingpolicies and practices, the Companies Act, Ind AS, and the SEBI ICDR Regulations. Any reliance by persons not familiar with Indian accounting policies and practices on the financial disclosures presented in this Draft Red Herring Prospectus should, accordingly, be limited. In this Draft Red Herring Prospectus, any discrepancies in any table between the total and the sums of the amounts listed are due to rounding off. Except as stated otherwise, all figures in decimals have been rounded off to the second decimal and all percentage figures have been rounded off to two decimal places. In certain instances, (i) the sum or percentage change of such numbers may not conform exactly to the total figure given; and (ii) the sum of the numbers in a column or row in certain tables may not conform exactly to the total figure given for that column or row. Any figures sourced from third-party industry sources may be rounded off to other than two decimal points to conform to their respective sources. Currency and Units of Presentation In this Draft Red Herring Prospectus, unless the context otherwise requires, all references to (a) ‘Rupees’ or ‘₹’ or ‘Rs.’ or ‘INR’ are to Indian Rupees, the official currency of the Republic of India; (b) ‘US Dollars’ or ‘US$’ or ‘USD’ or ‘$’ are to United States Dollars, the official currency of the United States of America. Our Company has presented certain numerical information in this Draft Red Herring Prospectus in ‘million’ units,or in absolute number where the number have been too small to present in million unless as stated, otherwise, as applicable. 1 million represents ‘10 lakhs’ or 1,000,000. However, where any figures that may have been sourcedfrom third-party industry sources are expressed in denominations other than million, such figures appear in this Draft Red Herring Prospectus expressed in such denominations as provided in their respective sources. Any percentage amounts, as set forth in ‘Risk Factors’, ‘Our Business’, ‘Management’s Discussion and Analysis of Financial Conditions and Results of Operations’ on pages37,274, and416 and elsewhere in this Draft Red Herring Prospectus, unless otherwise indicated, have been calculated based on our Restated Financial Information. Exchange Rates This Draft Red Herring Prospectus contains conversion of certain other currency amounts into Indian Rupees that have been presented solely to comply with the SEBI ICDR Regulations. These conversions should not be construed as a representation that these currency amounts could have been, or can be converted into Indian Rupees, at any particular rate or at all. The following table sets forth, for the periods indicated, information with respect to the exchange rate referred to for the purpose of conversion of foreign currency amounts into Rupee amounts between the Rupees and USD: (In ₹) Source: RBI reference rate and[www.fbil](http://www.fbil/).org.in Note: If the reference rate is not available on a particular date due to a public holiday, exchange rates of the previous Working Day has been disclosed. The reference rates are rounded off to two decimal places. Industry and Market Data

Unless stated otherwise, industry and market data used in this Draft Red Herring Prospectus has been obtained or derived from publicly available information as well as a report titled ‘Industry Report on Specialty Chemicals Sector’ dated October 7, 2025, prepared and issued by CARE Analytics and Advisory Private Limited (CARE), appointed by us pursuant to an engagement letter dated December 30, 2024, and exclusively commissioned and paid for by us for the purposes of confirming our understanding of the industry in connection with the Offer (CARE Report) in connection with the Offer. Additionally, certain industry related information in “Industry Overview”, “Our Business”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Conditionand Results of Operation” on pages200,274,37 and416, respectively, has been derived from the CARE Report. A copy of the CARE Report is available on the website of our Company at www.prasolchem.com/investor- relations/ from the date of this Draft Red Herring Prospectus until the Bid/Offer Closing Date and has also beenincluded in “Material Contracts and Documents for Inspection-Material Documents” on page514. CARE, pursuant to their consent letter dated October 7, 2025 has accorded their no objection and consent to use the CARE Report, in full or in part, in relation to the Offer. CARE was appointed by our Company and pursuant to their consent letter, has confirmed that they are an independent agency, and that they are not connected to our Company, our Directors, KMPs, members of Senior Management, our Promoters and Book Running Lead Manager. Forrisks in relation to commissioned reports, see ‘Risk Factor – This Draft Red Herring Prospectus contains information from an industry report prepared by CARE which we have commissioned and paid for.’ on page71. Except for the CARE Report, we have not commissioned any report for purposes of this Draft Red Herring Prospectus and any market and industry related data, other than that derived from the CARE Report, used in this Draft Red Herring Prospectus has been obtained or derived from publicly available documents and other industry sources. While there are excerpts from the CARE Report that have been reordered or re-classified by us for the purposes of presentation in this Draft Red Herring Prospectus, there are no material parts, information or data from the CARE Report which would be relevant for the Offer and that have been left out or changed in any manner. The data used in these sources may have been for the purposes of presentation. Data from these sources may also not be comparable, on account of there being no standard data gathering methodologies in the industry in which the business of our Company is conducted, and methodologies and assumptions may vary widely among different industry sources. Accordingly, the extent to which the market and industry data used in this Draft Red HerringProspectus is meaningful depends on the reader’s familiarity with and understanding of the methodologies usedin compiling such data. Disclaimer Industry sources and publications generally state that the information contained therein has been obtained from sources generally believed to be reliable, but their accuracy, completeness and underlying assumptions are not guaranteed, and their reliability cannot be assured and accordingly, investment decisions should not be based on such information. The data used in these sources may have been re-classified by us for the purposes of presentation. Data from these sources may also not be comparable. Industry sources and publications are also prepared based on information as of specific dates and may no longer be current or reflect current trends. Industry sources and publications may also base their information on estimates, projections, forecasts and assumptions that may prove to be incorrect. Such data involves risks, uncertainties and numerous assumptions and is subject tochange based on various factors, including those discussed in the ‘Risk Factors’ on page37. Accordingly, investors should not place undue reliance on, or base their investment decision on this information. Further, the extent to which the market and industry data used in this Draft Red Herring Prospectus is meaningfuldepends on the reader’s familiarity with and understanding of the methodologies used in compiling such data.There are no standard data gathering methodologies in the industry in which we conduct our business, and methodologies and assumptions may vary widely among different industry sources. In addition, certain data in relation to our Company used in this Draft Red Herring Prospectus has been obtained or derived from the CARE Report which may differ in certain respects from our Restated Financial Information as a result of, inter alia, the methodologies used in compiling such data. Accordingly, investment decision should not be made based on such information. In accordance with the SEBI ICDR Regulations, “Basis for Offer Price” on page184. includes information relating to our peer group companies. Such information has been derived from publicly available sources specified herein.

This Draft Red Herring Prospectus contains certain “forward-looking statements”. All statements regarding our expected financial condition and results of operations, business, plans and prospects are forward looking statements, which include statements with respect to our business strategy, our revenue and profitability, our goals and other matters discussed in this Draft Red Herring Prospectus regarding matters that are not historical facts. These forward-looking statements generally can be identified by words or phrases such as “aim”, “anticipate”, “believe”, “can”, “could”, “expect”, “estimate”, “intend”, “may”, “likely”, “objective”, “plan”, “propose”, “project”, “seek to”, “will”, “will achieve”, “will continue”, “will pursue” or other words or phrases of similarimport but are not the exclusive means of identifying such statements. Similarly, statements that describe our strategies, objectives, plans, goals, future events, future financial performance, or financial needs are also forward- looking statements. All forward-looking statements are subject to risks, uncertainties, expectations, and assumptions about us that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements, whether made by us or a third-party, are based on our current plans, estimates, presumptions and expectations and actual results may differ materially from those suggested by forward-looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions about us that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. This could be due to risks or uncertainties associated with our expectations, with respect to but not limited to regulatory changes pertaining to the industries in India in which we operate and our ability to respond to them, our ability to successfully implement our strategy, our growth and expansion, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on its business activities or investments, the monetary and fiscal policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic laws, regulations and taxes and changes in competition in the industries in which we operate. Certain important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the following: - 1. Our business and the demand for our products is reliant on the success of our customers’ products with end consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. - 2. Our business is reliant on certain key customers. Our top 10 customers contributed 23.91%, 21.96%, 18.46% and 23.27% of our total revenue from operations during three month period ended June 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. The loss of any of these customers or loss of revenue from sales to any key customers could have a material adverse effect on our business, financial condition, results of operations and cash flows. - 3. Our business is dependent on our manufacturing facilities and we are subject to certain related risks. 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. - 4. We do not have long-term agreements with most of our suppliers or customers and the loss of one or more of them or a reduction in their demand for our products could adversely affect our business, results of operations, financial condition and cash flows. Further, our inability to accurately forecast demand for our products or manage our inventory or working capital requirements may have an adverse effect on our business, results of operations and financial condition. - 5. We are susceptible to risks arising out of export of our products to 69 countries and with doing business internationally, including international market conditions and regulatory risks. - 6. Our inability to accurately forecast demand for our products and manage our inventory or working capital balances may have an adverse effect on our business, results of operations, cash flows and financial condition.

An investment in equity shares involves a high degree of risk. You should carefully consider each of the following risk factors together with all other information set forth in this Draft Red Herring Prospectus, including the risks and uncertainties described below, before making an investment in the Equity Shares. The risks and uncertainties described below are not the only risks that we currently face or are relevant to us, our Equity Shares, the industry in which we operate or to India or the other geographies in which we sell our products. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business, prospects, results of operations, cashflows and financial condition. In order to obtain a completeunderstanding about us, investors should read this section in conjunction with “Our Business”, “Industry Overview”, and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” onpages274,200 and416, respectively, as well as the financial statements, including the notes thereto, and other financial information included elsewhere in this Draft Red Herring Prospectus. If any or some combination of the following risks, or other risks that are not currently known or believed to be adverse, actually occur, our business, results of operations, cashflows and financial condition could suffer, the trading price of, and the trading price of the Equity Shares could decline, and you may lose all or part of your investment. In making an investment decision with respect to this Offer, you must rely on your own examination of our Company, our business, and the terms of this Offer, including the merits and risks involved and you should consult your tax, financial and legal advisors about the particular consequences to you of an investment in the Equity Shares. Prospective investors should pay particular attention to the fact that our Company is incorporated under the laws of India and is subject to a legal and regulatory environment, which may differ in certain respects from that of other countries. This Draft Red Herring Prospectus also contains forward-looking statements that involve risks, assumptions, estimates and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the considerations described below and elsewhere in this Draft Red Herring Prospectus. See “Forward-Looking Statements” onpage35. Unless otherwise stated or the context otherwise requires, the financial information used in this section is derivedfrom our Restated Financial Information. For further details, please see “Restated Financial Information” onpage342. Unless otherwise indicated, industry and market data used in this section has been derived from industry publications, in particular, the report titled ‘Industry Report on Speciality Chemicals Sector’ dated October 7, 2025 (CARE Report), prepared and issued by CARE, exclusively commissioned and paid for by our Company in connection with the Offer. Unless otherwise indicated, all financial, operational, industry and other related information derived from the CARE Report and included herein with respect to any particular year, refers to such information for the relevant calendar year. CARE was appointed by our Company and is not connected to our Company, our Directors, our Promoters, our Key Managerial Personnel, Senior Management or BRLM. A copy of the CARE Report is available on the website of our Company at https://prasolchem.com/investor-relations/. For further information, see ‘Risk Factor - Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company’ on page71. Also see ‘Certain Conventions, Presentation of Financial, Industry and Market Data and Currency of Presentation’ on page32. Internal Risk Factors - 1. Our business and the demand for our products is reliant on the success of our customers’ products withend consumers and any decline in the demand for the end products could have an adverse impact on our business, results of operations, cash flows and financial condition. We are a forward integrated manufacturer of acetone and phosphorous based specialty chemicals and other specialty chemicals involving complex and differentiated chemistries and our revenue is attributable to (a) performance chemicals (including lubricant additives and mining chemicals); (b) PICA viz., paints, inks construction, & adhesives; (c) pharmaceuticals; (d) agrochemicals; and (e) home and personal care (Application Industries). Set out below is our product offering along with the revenue generated, in terms of percentage of the revenue from operations, from each of our product categories, in the 3 months ended June 30, 2025 and in Fiscal 2025, Fiscal 2024 and Fiscal 2023, based on our Restated Financial Information: - -

of the date of this Draft Red Herring Prospectus, there are no material approvals which have been applied forand are yet to be received by our Company. For details, see “Government and Other Approvals” on page440. The approvals required by us are subject to numerous conditions and we cannot assure you that these would not be suspended or revoked in the event of non-compliance or alleged non-compliance with any terms or conditions thereof, or pursuant to any regulatory action. Any failure by us to comply with the applicable regulations in the future, or if the regulations governing our business are amended, we may incur increased costs, be subject to penalties, have our approvals and permits revoked or suffer a disruption in our operations, any of which could adversely affect our business. In case we fail to comply with these requirements, or a regulator alleges non-compliance with these requirements, we may be subject to penalties and proceedings may be initiated against us. The introduction of additional government control or newly implemented laws and regulations, depending on the nature and extent thereof and our ability to make corresponding adjustments, may adversely affect our business, results of operations and financial conditions. These laws and regulations and the way in which they are implemented and enforced may change from time to time and there can be no assurance that future legislative or regulatory changes will not have an adverse effect on our business, financial condition, cash flows and results of operations. - 26. The success of our business and operations are dependent upon certain quality accreditations which are valid for a limited time period. An inability to renew such accreditations in a timely manner, or at all, may adversely affect our business and prospects. Our Khopoli and Mahad manufacturing facilities in Maharashtra is certified by ISO 9001:2015, ISO45001:2018 and ISO 14001:2015 from Bureau Veritas. For further details, please see “Our Business –Manufacturing Facilities” on page288. Receipt of certifications and accreditations under the standards of quality is important for the success and wide acceptability of our products. To ensure continued accreditation with such agencies, we must ensure consistency and maintain the quality of our products and our manufacturing processes. If we fail to comply with the requirements for applicable quality standards, or if we are otherwise unable to obtain or renew such quality accreditations in the future, in a timely manner, or at all, our reputation, business and prospects may be adversely affected. - 27. We are susceptible to product liability claims, which may require substantial expenditure and may adversely affect our reputation and if successful, could require us to pay substantial sums. Our business inherently exposes us to potential product liability claims, and the severity and timing of such claims are unpredictable. Presently, our insurance policies, do not cover the product liability claims. We face the risk of loss resulting from, and the adverse publicity associated with, product liability lawsuits, whether or not such claims are valid. While our products are extensively researched before being commercialized, any adverse effects caused by such products could adversely affect our business and reputation. We may also be subject to claims resulting from manufacturing defects or negligence in storage or handling, which may lead to the deterioration of our products, or from defects arising from deterioration in our quality controls. While we have not experienced any product liability claims in the past, product liability claims, regardless of their merits or the ultimate success of the defence against them, are expensive. Even unsuccessful product liability claims would likely require us to incur substantial amounts on litigation, divert our management’s time,adversely affect our goodwill and impair the marketability of our products. - 28. Our operations are dependent on continuous R&D to develop and commercialise new products and our inability to identify and understand evolving industry trends, technological advancements, customerpreferences and develop new products to meet our customers’ demands may adversely affect our business. For a company engaged in the manufacture of speciality chemicals, which includes complex chemistries, R&D is a necessary component of business and corporate success and growth. As of July 31, 2025, we had a portfolio of over 150 specialty chemical products which enables us to cater to existing and will enable us to cater to new customers and markets, and a pipeline of 40 products which are at various stages of development (out of which 9 have cleared pilot stage) which we expect will enable us to deepen our engagement with existing customers and garner new customers. Our success depends significantly on our ability to commercialize our new products. In order to remain competitive, we must develop, test and manufacture new products, which must meet regulatory standards and receive requisite regulatory approvals. We believe that our focus on product innovation through continuous research and development has been critical to the growth

amendments to our Memorandum and Articles of Association, the approval of a merger, amalgamation or sale of our assets and the approval of most other actions requiring the approval of our Shareholders. The interests of our Promoters may be different from or conflict with the interests of our other Shareholders. - 50. Certain sections of this Draft Red Herring Prospectus contain information from CARE Report which has been exclusively commissioned and paid for by our Company. Certain sections of this Draft Red Herring Prospectus include information based on, or derived from, the CARE Report or extracts of the CARE Report, which is not related to our Company, Directors or Promoters. We exclusively commissioned and paid for this report for the purpose of confirming our understanding of the industry in connection with the Offer. All such information in this Draft Red Herring Prospectus indicates the CARE Report as its source. Accordingly, any information in this Draft Red Herring Prospectus derived from, or based on, the CARE Report should be read taking into consideration the foregoing. Industry sources and publications are also prepared based on information as of specific dates and may no longer be current or reflect current trends. Industry sources and publications may also base their information on estimates, projections, forecasts and assumptions that may prove to be incorrect. While industry sources take due care and caution while preparing their reports, they do not guarantee the accuracy, adequacy or completeness of the data. Further, the CARE Report is not a recommendation to invest / disinvest in any company covered in the CARE Report. You should consult your own advisors and undertake an independent assessment of information in this Draft Red Herring Prospectus based on, or derived from, the CARE Report before making any investment decision regarding the Offer. - 51. We cannot assure payment of dividends on the Equity Shares in the future. Our ability to pay dividends in the future will depend upon our earnings, financial condition, cash flows and capital requirements. While our Company has declared dividends during Fiscal 2025, Fiscal 2024 and Fiscal 2023, our Company cannot assure you that it will be able to declare dividends, of any particular amount or with any frequency in the future. For further details, see the ‘Dividend Policy’ at page341.Our Company’s ability to pay dividends in the future will depend upon a variety of factors, including our profitability, general financial conditions, capital requirements, results of operations, contractual obligations including terms and conditions of the financing agreements executed by our Company with lenders, overall financial position, applicable Indian legal restrictions, our Company’s Articles of Association, and other factors considered relevant by the Board of Directors of our Company. Further, our Promoters and Promoter Group will continue to hold a substantial portion of our post-Offer paid-up Equity Share capital and may have a significant ability to control the payment and/or the rate of dividends. Further, our Company may or may not grant the benefit of a tax treaty (where applicable) to a non-resident shareholder for the purposes of deducting tax at source from such dividend. Investors should consult their own tax advisors about the consequences of investing or trading in the Equity Shares. - 52. Significant differences exist between Ind AS and other accounting principles, such as U.S. GAAP and IFRS, which may be material to the Restated Financial Information prepared and presented in accordance with SEBI ICDR Regulations contained in this Draft Red Herring Prospectus. We have not attempted to quantify the impact of U.S. GAAP or any other system of accounting principles on the financial data, prepared and presented in accordance with Ind AS for three month ended June 30, 2025, Fiscal 2025, Fiscal 2024, and Fiscal 2023 included in this Draft Red Herring Prospectus, nor do we provide a reconciliation of our financial statements to those of U.S. GAAP or any other accounting principles. U.S. GAAP differs in significant respects from Ind AS. Accordingly, the degree to which the Restated Financial Information included in this Draft Red Herring Prospectus will provide meaningful information is entirely dependent on the reader's level of familiarity with Ind AS and SEBI ICDR Regulations. Any reliance by persons not familiar with Indian accounting practices on the financial disclosures presented in this Draft Red Prospectus should accordingly be limited. Additionally, Ind AS differs in certain respects from IFRS and therefore financial statements prepared under Ind AS may be substantially different from financial statements prepared under IFRS. - 53. Certain non-GAAP financial measures and certain other statistical information relating to our operations and financial performance such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity have been included in this Draft Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.

This Draft Red Herring Prospectus includes certain non-GAAP ratios such as Operating EBITDA, Operating EBITDA margin, PAT margin, Adjusted RoAE, Adjusted RoCE and Net Debt to Equity (collectively “Non- GAAP Measures”), which are supplemental measures of our performance and liquidity and are not requiredby, or presented in accordance with, Ind AS, IFRS or US GAAP. Further, these Non-GAAP Measures are not a measurement of our financial performance or liquidity under Ind AS, IFRS or US GAAP and should not be considered in isolation, or as a substitute for financial information presented in Restated Financial Information, as prepared in accordance with Ind AS. There are significant limitations to using Non-GAAP Measures as measures of performance, including the lack of comparability of results of operations of different companies and different methods of calculating Non-GAAP Measures reported by different companies. - 54. Our Company proposes to utilize up to ₹ 600.00 million from the Net Proceeds to repay or prepay, in full or in part, all or certain outstanding borrowings availed by our Company. We may not be able to derive the expected benefits of the deployment of the Net Proceeds, in a timely manner, or at all. As of August 31, 2025, our total sanctioned and outstanding indebtedness (excluding accrued interest) was ₹ 4,541.00 million and ₹ 2,961.05 million, respectively. Our Company proposes to utilise an estimated amount of ₹ 600.00 million from the Net Proceeds towards full or partial repayment or pre-payment of certain borrowings availed by our Company. The details of the borrowings identified to be repaid/pre-paid using theNet Proceeds have been disclosed in ‘Objects of the Offer’ on page173. Our Company may avail further loans after the date of this Draft Red Herring Prospectus. We believe that such repayment/ pre-payment will help deleverage our Company, i.e. assist us in maintaining an optimal debt-equity ratio, reduce our debt servicing costs, improve our return on capital employed, and enable utilisation of our Company’s internal accruals for further investment in our Company’s business growth and expansion. Additionally, our Companybelieves that our capacity to leverage will improve our ability to raise further resources at competitive rates and additional funds/ capital in the future to fund potential business development opportunities and plans to grow and expand our business. However, we cannot assure you that the re-payment /pre-payment of such borrowings will generate the benefits that we expect. Further, given the nature of these borrowings and the terms of repayment or pre-payment, the aggregate outstanding amounts under these borrowings may vary from time to time and our Company may, in accordance with the relevant repayment schedule, repay or refinance some of our existing borrowings or avail of additional credit facilities. Further, the deployment of the Net Proceeds will also not be monitored by a monitoring agency. - 55. Any variation in the utilisation of proceeds from the Fresh Issue shall be subject to applicable law. The funding requirements and the deployment of the proceeds from the Fresh Issue are based on the current business plan, current conditions, internal management estimates and strategy of our Company, which may be subject to changes. Accordingly, prospective investors in the Offer will need to rely upon our management’s judgment with respect to the use of Net Proceeds. Various risks and uncertainties, such as economic trends and business requirements, competitive landscape, as well as general factors affecting our results of operations, financial condition and access to capital, may limit or delay our efforts to use the Net Proceeds to achieve profitable growth in our business. Thus, the use of the Net Proceeds for the purposes identified by our management may not result in actual growth of our business, increased profitability or an increase in the value of our business and your investment. Further, in accordance with Sections 13(8) and 27 of the Companies Act 2013, we cannot undertake any variation in the utilisation of the Net Proceeds without obtaining the shareholders’ approval through a special resolution. In the event of any such circumstances that require us to undertake variation in the disclosed utilisation of the Net Proceeds, we may not be able to obtain the shareholders’ approval in a timely manner, or at all. Any delay or inability in obtaining such shareholders’ approval may adversely affect our business or operations. However, we will have flexibility in utilizing the balance Net Proceeds, if any, for general corporate purposes, subject to such utilisation not exceeding 25% of the Gross Proceeds from the Fresh Issue in accordance with Regulation 7(2) of the SEBI ICDR Regulations. Additionally, our Promoters would be required to provide an exit opportunity to Shareholders who do not agree with our proposal to change the objects of the Offer or vary the terms of such contracts, at a price and manner as prescribed by applicable SEBI regulations. Additionally, the requirement on the Promoters to provide an exit opportunity to such dissenting shareholders may deter the Promoters from agreeing to the variation of the proposed utilisation of the Net Proceeds, even if such variation is in the interest of our Company. Further, we cannot assure you that the Promoters of our Company will have adequate resources at

their disposal at all times to enable them to provide an exit opportunity at the price prescribed by SEBI. In light of these factors, we may not be able to undertake variation of objects of the Issue to use any unutilized proceeds of the Offer, if any, or vary the terms of any contract referred to in this Draft Red Herring Prospectus, even if such variation is in the interest of our Company. This may restrict our Company’s ability to respond to any change in our business or financial condition by re-deploying the unutilised portion of Net Proceeds, if any, or varying the terms of contract, which may adversely affect our business and results of operations. Thus, we may not be able to utilise the proceeds from the Fresh Issue in this Offer in the manner set out in this Draft Red Herring Prospectus in a timely manner or at all. As a consequence of any increased expenditure, the actual deployment of funds may be higher than estimated. There is no assurance that the deployment ofthe Net Proceeds in the manner intended by us will result in any increase in the value of your investment. - 56. Our Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders are selling Equity Shares in the Offer for Sale and will receive proceeds as part of the Offer for Sale. The Offer includes an Offer for Sale of Equity Shares by the Selling Shareholders. The proceeds from the Offer for Sale will be paid to the Selling Shareholders, and we will not receive any suchproceeds. For further details, see “Objects of the Offer” and “Capital Structure” on pages173 and99, respectively. External Risk Factors - 57. Political, economic or other factors that are beyond our control may have an adverse effect on our business and results of operations. - - • high rates of inflation in India and in countries where we operate our business could increase our costs without proportionately increasing our revenue, and as such decrease our operating margins; - - • any slowdown in economic growth or financial instability in India and in countries where we operate our business; - - • any exchange rate fluctuations, the imposition of currency controls and restrictions on the right to convert or repatriate currency or export assets; - - • any scarcity of credit or other financing, resulting in an adverse impact on economic conditions and scarcity of financing for our expansions; - - • macroeconomic factors and central bank regulation, including in relation to interest rates movements which may in turn adversely impact our access to capital and increase our borrowing costs; - - • prevailing income conditions among consumers and corporates; - - • volatility in, and actual or perceived trends in trading activity on, the relevant market’s principalstock exchanges; - - • changes in existing laws and regulations in India and in countries where we operate our business; - - • political instability, terrorism or military conflict in the region or globally, including in various neighbouring countries; - - • occurrence of natural or man-made disasters; - - - - - - - - - - The Indian economy and capital markets are influenced by economic, political and market conditions in India and globally. Our Company is incorporated in India, and all of our assets and employees are located in India. As a result, we are dependent on prevailing economic conditions in India and our results of operations are affected by factors influencing the Indian economy as well as the economies of the regional markets in which we operate. Further, the following illustrative external risks may have an adverse impact on our business and results of operations, should any of them materialize:

by the adoption of a special resolution by holders of three-fourths of the equity shares voting on such resolution. However, if the law of the jurisdiction that you are in does not permit the exercise of such pre-emptive rights without us filing an offer document or registration statement with the applicable authority in such jurisdiction, you will be unable to exercise such pre-emptive rights, unless we make such a filing. If we elect not to file a registration statement, the new securities may be issued to a custodian, who may sell the securities for your benefit. The value such custodian receives on the sale of any such securities and the related transaction costs cannot be predicted. To the extent that you are unable to exercise pre- emptive rights granted in respect of our Equity Shares, your proportional interests in our Company would be diluted. - 80. QIBs and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Offer Closing Date. Pursuant to the SEBI ICDR Regulations, QIBs and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid. RIBs can revise or withdraw their Bids during the Bid/Offer Period. While our Company is required to complete Allotment pursuant to the Offer within such period as may be prescribed under applicable law, events affecting the Bidders’ decision to invest in the Equity Shares, including adverse changes in international or national monetary policy, financial, political or economic conditions, our business, results of operation or financial condition may arise between the date of submission of the Bid and Allotment. Our Company may complete the Allotment of the Equity Shares even if such events occur, and such events limit the Bidders’ ability to sell the Equity Shares Allotted pursuant to the Offer or cause the trading price of the Equity Shares to decline on listing. - 81. Investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Offer. The Equity Shares will be listed on the Stock Exchanges. Pursuant to applicable Indian laws, certain actions must be completed before the Equity Shares can be listed and trading in the Equity Shares may commence. After the Basis of Allotment is approved by the Designated Stock Exchange, the Company undertakes the Allotment and the demat account of the Allottees with depository participants in India are credited with the Equity Shares. The Allotment of Equity Shares in this Offer, the credit of such Equity Shares to the applicant’s demat account with depository participant and trading in the Equity Shares upon receipt of final listing and trading approvals from the Stock Exchanges is expected to complete within 3 working days of the Bid Closing Date (or such other period as prescribed under applicable laws). There could be a failure or delay in listing of the Equity Shares on the Stock Exchanges. Any failure or delay in obtaining the approval or otherwise commence trading in the Equity Shares would restrict investors’ ability to dispose of their Equity Shares. There can be no assurance that the Equity Shares will be credited to investors’ demat accounts, or that trading in the Equity Shares will commence, within the time periods as specified herein. We could also be required to pay interest at the applicable rates if allotment is not made, unblocking intimation/ refund intimation, as applicable are not dispatched or demat credits are not made to investors within the prescribed time periods. - 82. If security or industry analysts do not publish research or publish unfavourable or inaccurate research about the business of our Company, the price and trading volume of the Equity Shares may decline. The trading market for the Equity Shares may depend, in part, on the research and reports that securities or industry analysts publish about us or our business. We may be unable to sustain coverage by established and, or, prominent securities and industry analysts. If either none or only a limited number of securities or industry analysts maintain coverage of our Company, or if these securities or industry analysts are not widely respected within the general investment community, the trading price for our Equity Shares would be negatively impacted. In the event we obtain securities or industry analyst coverage, if one or more of the analysts downgrade our Equity Shares or publish inaccurate or unfavourable research about our business, our Equity Shares price may decline. If one or more of these analysts cease coverage of our Company or fail to publish reports on us regularly, demand for our Equity Shares could decrease, which might cause the price and trading volume of our Equity Shares to decline.

- - on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. For further details, see ‘Offer Structure’ and ‘Offer Procedure’ on pages492 and469 respectively. - (4) Subject to valid Bids being received at or above the Offer Price, under-subscription, if any, in any category would be allowed to be met with spill-over from any other category or combination of categories, as applicable, at the discretion of our Company, in consultation with the BRLM and the Designated Stock Exchange, subject to applicable law. Undersubscription, if any, in the QIB Portion would not be allowed to be met with spill-over from other categories or a combination of categories. In the event of under-subscription in the Offer, Allotment of valid Bids will be made in the first instance towards subscription of 90% of the Fresh Issue (Minimum Subscription), provided that post satisfaction of the Minimum Subscription, subject to receipt of any remaining valid Bids, (a) such number of Equity Shares will be Allotted towards the Fresh Issue such that 90% of the Fresh Issue is subscribed; (b) upon achieving (a), towards the Offered Shares pursuant to the Offer for Sale on a pro-rata basis in a manner proportionate to the respective portion of the Offered Shares of each Selling Shareholder; and (c) once Equity Shares are Allotted towards (a) and (b) any balance Equity Shares towards the balance 10% of the Fresh Issue portion. For further details, see ‘Offer Procedure’ on page469. - (5) Not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors of which (i) one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 0.20 millionand up to ₹ 1.00 million; and (ii) two third of the Non-Institutional Portion shall be available for allocation to Bidderswith an application size of more than ₹ 1.00 million provided that under-subscription in either of these two sub-categories of Non-Institutional Category specified in (i) and (ii), may be allocated to Bidders in the other sub-category of Non- Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. For further details, including in relation to grounds for rejection of Bids, see ‘Offer Structure’ and ‘OfferProcedure’ on pages492 and469, respectively. For further details of the terms of the Offer, see ‘Terms of theOffer’ on page461.

C N K & Associates LLP 3rd Floor, Mistry Bhavan, Dinshaw Vachha Road, Churchgate, Mumbai, India, 400020Telephone: 91 22 6623 0600 Email:[diwakar@cnkindia.com](mailto:diwakar@cnkindia.com) Contact Person: Diwakar Sapre Peer review number: 017169 Firm Registration number: 101961W/W-100036 Changes in the auditors Except as provide below: there has been no change in the Statutory Auditors of our Company during the last 3 years preceding the date of this Draft Red Herring Prospectus: *S.V. Shanbhag & Co. and C N K & Associates LLP were appointed as joint auditors on January 15, 2022. Registrar to the Offer KFin Technologies Limited 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 E-mail: prasol.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M. Murali Krishna SEBI registration no.: INR000000221 Banker(s) to the Offer Escrow Collection Bank [●] Public Offer Bank [●] Refund Bank [●] Sponsor Banks [●] Bankers to our Company

company secretary in respect of information certified by him, as included in this Draft Red Herring Prospectus; and such consent has not been withdrawn as on the date of this Draft Red Herring Prospectus. Monitoring Agency In accordance with Regulation 41 of the SEBI ICDR Regulations, since the size of the Fresh Issue is less than₹ 1,000 million, our Company is not required to and will not appoint a monitoring agency for this Issue. Forfurther details in relation to the proposed utilisation of the Net Proceeds, see “Objects of the Offer” on page173. Appraising Agency None of the objects of the Offer for which the Net Proceeds will be utilised have been appraised by any agency. Credit Rating As this is an offer of Equity Shares, there is no credit rating for the Offer. IPO Grading No credit rating agency registered with the SEBI has been appointed in respect of obtaining grading for the Offer. Debenture Trustees As this is an offer of Equity Shares, no debenture trustee has been appointed for the Offer. Green Shoe Option No green shoe option is contemplated under the Offer. Filing of the Offer Documents A copy of this Draft Red Herring Prospectus is being filed electronically through the SEBI intermediary portal at https://siportal.sebi.gov.in/intermediary/index.html, as required under Regulation 25(8) of the SEBI ICDR Regulations and in accordance with the SEBI Master Circular no. SEBI/HO/CFD/PoD-1/P/CIR/2024/0154 dated November 11, 2024 and has been emailed to SEBI at cfddil@sebi.gov.in, in accordance with theinstructions issued by the SEBI on March 27, 2020, in relation to “Easing of Operational Procedure –Division of Issues and Listing –CFD” and as specified in Regulation 25(8) of the SEBI ICDR Regulations. A copy of this Draft Red Herring Prospectus will also be filed with the SEBI at the following address: Securities and Exchange Board of India Corporate Finance Department, Division of Issues and Listing SEBI Bhavan Plot No. C4-A “G” Block Bandra Kurla Complex Bandra (East) Mumbai – 400 051 Maharashtra, India A copy of the Red Herring Prospectus, along with the material contracts and documents required to be filed under Section 32 of the Companies Act will be filed with the RoC and a copy of the Prospectus to be filed under Section 26 of the Companies Act will be filed with the RoC. Book Building Process Book building, in the context of the Offer, refers to the process of collection of Bids from investors on the basis of the Red Herring Prospectus and the Bid cum Application Forms (and the Revision Forms) within the Price Band, which will be decided by our Company in consultation with the BRLM, and if not disclosed in

the Red Herring Prospectus, will be advertised in all editions of [●], a widely circulated English national daily newspaper, all editions of [●] a widely circulated Hindi national daily newspaper, and [●] edition of [●], a widely circulated Marathi newspaper (Marathi being the regional language of Maharashtra where our Registered and Corporate Office is located), each with wide circulation, at least two Working Days prior to the Bid/Offer Opening Date and shall be made available to the Stock Exchanges for the purpose of uploading on their respective websites. The Offer Price shall be determined by our Company in consultation with the BRLM after the Bid/Offer Closing Date. For further details, see “Offer Procedure” on page469. All Bidders, except Anchor Investors, are mandatorily required to use the ASBA process for participating in the Offer by providing details of their respective ASBA Account in which the corresponding Bid Amount will be blocked by SCSBs. In addition to this, the RIBs may participate through the ASBA process by either (a) providing the details of their respective ASBA Account in which the corresponding Bid Amount will be blocked by the SCSBs; or (b) through the UPI Mechanism. Anchor Investors are not permitted to participate in the Offer through the ASBA process. In accordance with the SEBI ICDR Regulations, QIBs and Non-Institutional Bidders are not allowed to withdraw or lower the size of their Bids (in terms of the quantity of the Equity Shares or the Bid Amount) at any stage. RIBs Bidding in the Retail Portion can revise their Bids during the Bid/Offer Period and withdraw their Bids until the Bid/Offer Closing Date. Further, Anchor Investors cannot withdraw their Bids after the Anchor Investor Bidding Date. Except for Allocation to RIBs and the Anchor Investors, Allocation in the Offer will be on a proportionate basis. Allocation to the Anchor Investors will be on a discretionary basis. For allocation to the Non-Institutional Bidders, the following shall be followed: - a) One-third of the portion available to Non-Institutional Bidders shall be reserved for Bidders with application size of more than ₹200,000 and up to ₹1,000,000; - b) Two-thirds of the portion available to Non-Institutional Bidders shall be reserved for Bidders with application size of more than ₹1,000,000. Provided that the unsubscribed portion in either of the sub-categories specified under clauses (a) or (b), may be allocated to Bidders in the other sub-category of Non-Institutional Bidders. Each Bidder by submitting a Bid in the Offer, will be deemed to have acknowledged the above restrictions and the terms of the Offer. The Book Building Process under the SEBI ICDR Regulations and the Bidding Process are subject to change from time to time and Bidders are advised to make their own judgment about investment through this process prior to submitting a Bid in the Offer. Bidders should note that the Offer is also subject to obtaining (i) final approval of the RoC after the Prospectus is filed with the RoC; and (ii) final listing and trading approvals from the Stock Exchanges, which our Company shall apply for after Allotment. For further details on the method and procedure for Bidding, see “Offer Structure” and “Offer Procedure” onpages492 and469, respectively. Illustration of Book Building Process and Price Discovery Process For an illustration of the Book Building Process and the price discovery process, see “Offer Procedure” on page469, respectively. Underwriting Agreement The Underwriting Agreement has not been executed as on the date of this Draft Red Herring Prospectus. After the determination of the Offer Price, but prior to the filing of the Prospectus with the RoC, our Company and the Selling Shareholders will enter into an Underwriting Agreement with the Underwriters for the Equity Shares proposed to be offered through the Offer. Subject to applicable laws, extent of underwriting obligations and the Bids to be underwritten in the Offer shall be as per the Underwriting Agreement. It is proposed that

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Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electr

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Financials Reports Opens in 2 Days Prasol Chemicals IPO Financial Report Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electr

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Financials Reports Opens in 2 Days Prasol Chemicals IPO Financial Report Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electr

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Financials Reports Opens in 2 Days Prasol Chemicals IPO Financial Report Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electr

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Financials Reports Opens in 2 Days Prasol Chemicals IPO Financial Report Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electr

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. Limited (SME) Advance Technoforge Limited (SME) Propshop Events and Exhibitions Limited (SME) Silverstorm Parks and Resorts Limited (SME) Lohia Corp Limited (MainBoard) Indo Mim Limited (MainBoard) Xtranet Technologies Limited (MainBoard) Shree Balaji (Mala) Textiles Limited (SME) Cube Highways Trust Invit (MainBoard) Metalic Technoforge Limited (SME) Gulf Lloyds (India) Limited (SME) Caliber Mining and Logistics Limited (MainBoard) Sotefin Bharat Limited (SME) Alpine Texworld Limited (MainBoard) Sbi Funds Management Limited (MainBoard) Millworks Technologies Limited (SME) Laser Power & Infra Limited (MainBoard) Happy Steels Limited (SME) Devson Catalyst Limited (SME) Kusumgar Limited (MainBoard) IC Electricals Company Limited (SME) Knack Packaging Limited (MainBoard) Teja Engineering Industries Limited (SME) Sampark India Logistics Limited (SME) Atharva Poly-Plast Limited (SME) Seemax Resources Limited (SME) Vinit Mobile Limited (SME) Kratikal Tech Limited (SME) Adon Agro Commodities Limited (SME) Aastha Spintex Limited (MainBoard) Crazy Snacks Limited (SME) Csm Technologies Limited (MainBoard) Jivial Industries Limited (SME) Waterways Leisure Tourism Limited (MainBoard) Advit Jewels Limited (MainBoard) Shreedhar Spinners Limited (SME) Anubhav Plast Limited (SME) Turtlemint Fintech Solutions Limited (MainBoard) Avience Biomedicals Lmited (SME) Riyaasat Lifestyle Limited (SME) Liotech Industries Limited (SME) Leapfrog Engineering Services Limited (SME) Diksha Polymers Limited (SME) Clay Craft India Limited (SME) Horizon Reclaim (India) Limited (SME) Susan Electricals India Limited (SME) Utkal Speciality Industries India Limited (SME) Hexagon Nutrition Limited (MainBoard) GenxAI Analytics Limited (SME) Vahh Chemicals Limited (SME) UHM Vacation Limited (SME) CMR Green Technologies Limited (MainBoard) Merritronix Limited (SME) Aureate Tradde Limited (SME) SMR Jewels Limited (SME) Rajnandini Fashion India Limited (SME) Yaashvi Jewellers Limited (SME) M R Maniveni Foods Limited (SME) Bio Medica Laboratories Limited (SME) Q-Line Biotech Limited (SME) Autofurnish Limited (SME) Vegorama Punjabi Angithi Limited (SME) Harikanta Overseas Limited (SME) Teamtech Formwork Solutions Limited (SME) NFP Sampoorna Foods Limited (SME) Goldline Pharmaceutical Limited (SME) RFBL Flexi Pack Limited (SME) Simca Advertising Limited (SME) Recode Studios Limited (SME) Bagmane Prime Office REIT (MainBoard) Value 360 Communications Limited (SME) Onemi Technology (Kissht) Solutions Limited (MainBoard) Amba Auto Sales and Services Limited (SME) Adisoft Technologies Limited (SME) Mehul Telecom Limited (SME) Citius Transnet Investment Trust (MainBoard) Property Share Investment Trust - PropShare Celestia (MainBoard) Om Power Transmission Limited (MainBoard) Safety Controls & Devices Limited (SME) Emiac Technologies Limited (SME) Vivid Electromec

Home List of Mainboard IPOs Prasol Chemicals Limited IPO Peer Comparison Opens in 2 Days Prasol Chemicals IPO Peer Comparison Search IPO Veegaland Developers Limited (MAINBOARD Upcoming) Amtech Esters Limited (SME Upcoming) Karamtara Engineering Limited (MAINBOARD Upcoming) LCC Projects Limited (MAINBOARD Upcoming) Steamhouse India Ltd. (MAINBOARD Upcoming) Manipal Payment and Identity Solutions Limited (MAINBOARD Upcoming) Asset Reconstruction Company India Limited (MAINBOARD Upcoming) Vinod Texworld Limited (SME Upcoming) Rentomojo Limited (MAINBOARD Upcoming) Infrax Renewable Limited (SME Upcoming) Glass Wall Systems India Limited (MAINBOARD Upcoming) Prasol Chemicals Limited (MAINBOARD Upcoming) Kanohar Electricals Limited (MAINBOARD Upcoming) Pranav Construction Limited (MAINBOARD Upcoming) Apana Logistics Limited (SME Upcoming) Qualiance International Limited (SME Upcoming) Farm Peace Limited (SME Upcoming) Deepa Jewellers Limited (MAINBOARD Upcoming) Fly-Hi Maritime Travels Limited (SME Upcoming) Rays of Belief Limited (MAINBOARD Upcoming) Purple Style Labs Limited (MAINBOARD Upcoming) Shanti Inorganic Limited (SME Upcoming) Ashutosh Fibre Limited (SME Upcoming) Phychem Technologies Limited (SME Upcoming) Esds Software Solution Limited (MainBoard) Priority jewels Limited (MainBoard) Paluck Technologies Limited (SME) Complete Sports and Management India Limited (SME) Lumino Industries Limited (MainBoard) Kwick Forensic Solutions Limited (SME) Annu Projects Limited (MainBoard) Sumax Engineering Limited (SME) Abh Healthcare Limited (SME) Skyways Air Services Limited (MainBoard) Hytech Engineers Limited (MainBoard) Madhur Knit Crafts Limited (SME) Symbiotec Pharmalab Limited (MainBoard) Augmont Enterprises Limited (MainBoard) Tempsens Instruments (India) Limited (MainBoard) Gaja Alternative Asset Management Limited (MainBoard) Mopshop Distribution Limited (SME) Dhanwel Hybrid Seeds Limited (SME) Sunshine Pictures Limited (MainBoard) Shankesh Jewellers Limited (MainBoard) Lalithaa Jewellery Mart Limited (MainBoard) Horizon Industrial Parks Limited (MainBoard) Skytech Infinite Platform Limited (SME) ENS Enterprises Limited (SME) Technocrats Plasma Systems Limited (SME) Credent Connect N Care Limited (SME) Shiprocket Limited (MainBoard) Behari Lal Engineering Limited (MainBoard) Pramodini Medicare Limited (SME) Q&T Foods Limited (SME) Milky Mist Dairy Food Limited (MainBoard) Fascinate Textiles Limited (SME) Sham Foam Limited (SME) Molbio Diagnostics Limited (MainBoard) Dhoot Transmission Limited (MainBoard) Technocraft Ventures Limited (MainBoard) Leap India Limited (MainBoard) Optimystix Entertainment India Limited (SME) LAPL Automotive Limited (SME) Ardee Industries Limited (MainBoard) Aegeus Technologies Limited (SME) Anawil Wire and Engineering Limited (SME) Fusion Klassroom Edutech Limited (SME) G V Electricals Limited (SME) Juniper Green Energy Limited (MainBoard) Oneindig Technologies Limited (SME) MV Electrosystems Limited (MainBoard) Dhaval Packaging Limited (SME) H. R. Hygiene Products Limited (SME) Manipal Health Enterprises Limited (MainBoard) Poojaa Precision Engg. 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