The rate band for the IPO has been set in between Rs 233 and Rs 245 per share.
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Crizac Ltd., a service provider of trainee recruitment to education business, launched its going public on July 2 to raise over Rs 850 crore.
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The mainboard issue opened to a weak need from investors on Wednesday. The IPO was subscribed just 46% on the first day of bidding.
Despite the soft response so far, the grey market premium for the public issue acquired on Wednesday.
Crizac IPO GMP Today
The most recent 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 indicates a listing cost 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 considering that the IPO opened for membership 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 official information 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 comprises a totally 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 need to bid for 14 lots, totaling up to a financial investment of Rs 2,09,230. Big Non-Institutional Investors can participate by bidding for a minimum of 67 lots, totaling up 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 investors.
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 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 problem.
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Use Of Proceeds
The business 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 remains in the organization of offering student recruitment solutions to international institutions of greater education in countries such as the UK, Australia and Canada. It was integrated in 2011.
Disclaimer: Investments in preliminary public offerings are subject to market risks. Please seek advice from financial advisors and read the red herring prospectus thoroughly before placing bids.