The rate band for the IPO has been set in between Rs 233 and Rs 245 per share.
NDTV Profit News
Crizac Ltd., a company of student recruitment options to education companies, introduced its initial public offering on July 2 to raise over Rs 850 crore.
The mainboard issue opened to a weak need from financiers on Wednesday. The IPO was subscribed only 46% on the first day of bidding.
Despite the muted response up until now, the grey market premium for the general public concern gained on Wednesday.
Crizac IPO GMP Today
The latest grey market premium (GMP) for the Crizac IPO was Rs 31 per share as of 1:34 p.m. on July 3. The current GMP suggests a listing price of Rs 276 apiece at a premium of 12.65%, compared to the upper limitation of the rate band.
The GMP has more or less doubled considering that the IPO opened for subscription on Wednesday. It was Rs 21 on July 2 and later reached Rs 32 before ending day 1 at Rs 39 per share.
Note: GMP does not represent main information and is based upon speculation.
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About Crizac IPO
The Crizac IPO is a book-building problem worth Rs 860 crore. It consists of an entirely offer-for-sale of 3.51 crore shares. The rate band for the IPO has actually been set in between Rs 233 and Rs 245 per share.
Retail financiers can get involved 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 require to bid for 14 lots, totaling up to an investment of Rs 2,09,230. Big Non-Institutional Investors can take part by bidding for at least 67 lots, amounting to a minimum financial investment of Rs 10,01,315.
Of the 3,51,02,039 shares available, 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 investors.
Investors can invest in the IPO till July 4. The allotment of Crizac shares is proposed to be done on July 7. Successful bidders will receive 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 set up to be listed on the BSE and NSE on July 9.
Equirus Capital Pvt. is the book-running lead manager of the Crizac IPO. MUFG Intime India Pvt. is the registrar for the issue.
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Use Of Proceeds
The company will not get any funds from the IPO as it's totally an offer-for-sale.
About Crizac Ltd.
. Crizac is a B2B education company. It is in business of providing student recruitment solutions to global organizations of higher education in nations such as the UK, Australia and Canada. It was included in 2011.
Disclaimer: Investments in going publics go through market risks. Please seek advice from monetary consultants and read the red herring prospectus completely before putting bids.
