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Also Read: Crizac IPO: should you Subscribe Or Not?
The cost band for the IPO has been set in between Rs 233 and Rs 245 per share.
NDTV Profit News
Crizac Ltd., a service provider of student recruitment solutions to education business, introduced its going public on July 2 to raise over Rs 850 crore.
The mainboard issue opened to a weak demand from financiers on Wednesday. The IPO was subscribed only 46% on the very first day of bidding.
Despite the soft action so far, the grey market premium for the general public problem acquired on Wednesday.
Crizac IPO GMP Today
The latest grey market premium (GMP) for the Crizac IPO was Rs 31 per share since 1:34 p.m. on July 3. The current GMP suggests a listing rate of Rs 276 apiece at a premium of 12.65%, compared to the ceiling of the price 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 climbed to Rs 32 before ending day 1 at Rs 39 per share.
Note: GMP does not represent official information and is based upon speculation.
Also Read: Crizac IPO: Should You Subscribe Or Not?
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About Crizac IPO
The Crizac IPO is a book-building concern 860 crore. It consists of an entirely offer-for-sale of 3.51 crore shares. The rate band for the IPO has been set in 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, needing an investment of Rs 14,213. Small Non-Institutional Investors need to bid for 14 lots, totaling up to an investment of Rs 2,09,230. Big Non-Institutional Investors can participate 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 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 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 receive shares in their demat accounts on July 8 and refunds for non-allottees will be processed on the same day.
Shares of Crizac are tentatively scheduled to be noted 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 concern.
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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 options to worldwide institutions of college in countries such as the UK, Australia and Canada. It was incorporated in 2011.
Disclaimer: Investments in going publics undergo market dangers. Please speak with monetary advisors and check out the red herring prospectus completely before placing quotes.