Also Read: Crizac IPO: should you Subscribe Or Not?

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

NDTV Profit News

Crizac Ltd., a company of trainee recruitment solutions to education companies, launched its preliminary public offering 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 only 46% on the very first day of bidding.

Despite the soft action up until now, the grey market premium for the public problem gained on Wednesday.

Crizac IPO GMP Today

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

The GMP has more or less considering that 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 official data and is based on 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 worth Rs 860 crore. It makes up a completely offer-for-sale of 3.51 crore shares. The rate 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, needing 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 participate by bidding for a minimum of 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 financiers.

Investors can buy 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 arranged 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 concern.

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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 remains in the business of providing student recruitment services to global organizations of college in countries such as the UK, Australia and Canada. It was incorporated in 2011.

Disclaimer: Investments in going publics go through market risks. Please seek advice from with financial consultants and read the red herring prospectus thoroughly before positioning bids.