The cost band for the IPO has actually been set between Rs 233 and Rs 245 per share.

NDTV Profit News


Crizac Ltd., a provider of student recruitment solutions to education business, introduced its going public on July 2 to raise over Rs 850 crore.

The mainboard problem opened to a weak demand from investors on Wednesday. The IPO was subscribed just 46% on the very first day of bidding.

Despite the muted action so far, the grey market premium for the general public concern acquired on Wednesday.

Crizac IPO GMP Today

The current grey market premium (GMP) for the Crizac IPO was Rs 31 per share since 1:34 p.m. on July 3. The most recent GMP shows a listing price of Rs 276 apiece at a premium of 12.65%, compared to the upper limit of the rate band.

The GMP has more or less doubled since the IPO opened for subscription on Wednesday. It was Rs 21 on July 2 and later climbed up to Rs 32 before ending day 1 at Rs 39 per share.

Note: GMP does not represent official data and is based upon speculation.

Also Read: Crizac IPO: Should You Subscribe Or Not?

Silky Overseas To Pushpa Jewellers: Allotment Status For Five SME IPOs To Be Finalised Today, Details Here

About Crizac IPO

The Crizac IPO is a book-building concern worth Rs 860 crore. It consists of a completely offer-for-sale of 3.51 crore shares. The cost band for the IPO has been set between Rs 233 and Rs 245 per share.

Retail investors can take part in the IPO by bidding for a single lot size of 61 shares, requiring a financial investment of Rs 14,213. Small Non-Institutional Investors need to bid for 14 lots, totaling up to a financial investment of Rs 2,09,230. Big Non-Institutional Investors can take part by bidding for a minimum of 67 lots, amounting to a minimum investment of Rs 10,01,315.

Of the 3,51,02,039 shares on offer, 70,20,407 (20.00%) are designated to QIB, 52,65,306 (15.00%) to NII, 1,22,85,714 (35.00%) to RII and 1,05,30,612 (30.00%) to Anchor financiers.

Investors can purchase the IPO till July 4. The allotment of Crizac shares is proposed to be done on July 7. Successful bidders will get shares in their demat accounts on July 8 and refunds for non-allottees will be processed on the very same day.

Shares of Crizac are tentatively scheduled to be listed on the BSE and NSE on July 9.

Equirus Capital Pvt. is the book-running lead supervisor of the Crizac IPO. MUFG Intime India Pvt. is the registrar for the issue.

ALSO READ

Steamhouse India Files Confidential Draft IPO Papers; Aims To Raise As Much As Rs 700 Crore

Use Of Proceeds

The business will not get any funds from the IPO as it's entirely an offer-for-sale.

About Crizac Ltd.

. Crizac is a B2B education company. It is in the business of supplying student recruitment options to international organizations of college in nations such as the UK, Australia and Canada. It was included in 2011.

Disclaimer: Investments in going publics go through market risks. Please talk to monetary consultants and check out the red herring prospectus thoroughly before placing bids.