The rapid growth of user-generated text across digital platforms has intensified the need for interpretable models capable of fine-grained text classification and explanation. Existing prototype-based models offer intuitive explanations but typically operate at coarse granularity (sentence or document level) and fail to address the multi-label nature of real-world text classification. We propose ProtoSiTex, a semi-interpretable framework designed for fine-grained multi-label text classification. ProtoSiTex employs a dual-phase alternate training strategy: an unsupervised prototype discovery phase that learns semantically coherent and diverse prototypes, and a supervised classification phase that maps these prototypes to class labels. A hierarchical loss function enforces consistency across subsentence, sentence, and document levels, enhancing interpretability and alignment. Unlike prior approaches, ProtoSiTex captures overlapping and conflicting semantics using adaptive prototypes and multi-head attention. We also introduce a benchmark dataset of hotel reviews annotated at the subsentence level with multiple labels. Experiments on this dataset and two public benchmarks (binary and multi-class) show that ProtoSiTex achieves state-of-the-art performance while delivering faithful, human-aligned explanations, establishing it as a robust solution for semi-interpretable multi-label text classification.