Prasol Chemicals IPO Day 2: GMP, subscription status. Should you subscribe?

The Prasol Chemicals IPO entered Day 2 of bidding after garnering 41% subscription on the first day. Priced at Rs 643–676 per share, the Rs 500 crore issue carries a grey market premium of Rs 30, implying around 4% upside. Anand Rathi has assigned a “Subscribe for Long Term” rating to the issue.