The rate band for the IPO has actually been set in between Rs 233 and Rs 245 per share.
NDTV Profit News
Crizac Ltd., a provider of trainee recruitment solutions to education business, released its initial public offering on July 2 to raise over Rs 850 crore.
The mainboard concern opened to a weak demand from financiers on Wednesday. The IPO was subscribed just 46% on the first day of bidding.
Despite the muted action up until now, the grey market premium for the general public issue gotten 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 most recent GMP indicates a listing rate of Rs 276 each at a premium of 12.65%, compared to the upper limitation of the rate band.
The GMP has more or less doubled because the IPO opened for subscription on Wednesday. It was Rs 21 on July 2 and later on reached Rs 32 before ending day 1 at Rs 39 per share.
Note: GMP does not represent main data and is based upon speculation.
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About Crizac IPO
The Crizac IPO is a book-building issue worth Rs 860 crore. It makes up a totally offer-for-sale of 3.51 crore shares. The price band for the IPO has been set 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, needing an investment of Rs 14,213. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,230. Big Non-Institutional Investors can participate by bidding for at least 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 assigned 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 scheduled to be noted 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 business will not get any funds from the IPO as it's completely an offer-for-sale.
About Crizac Ltd.
. Crizac is a B2B education company. It remains in business of offering student recruitment services to international institutions of college in countries such as the UK, Australia and Canada. It was integrated in 2011.
Disclaimer: Investments in preliminary public offerings go through market dangers. Please talk to monetary advisors and check out the red herring prospectus completely before placing quotes.
