Also Read: Crizac IPO: should you Subscribe Or Not?
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The rate band for the IPO has actually been set between Rs 233 and Rs 245 per share.
NDTV Profit News
Crizac Ltd., a company of trainee recruitment options to education business, introduced its preliminary 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 response up until now, the grey market premium for the public issue 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 most recent GMP indicates a listing cost of Rs 276 apiece at a premium of 12.65%, compared to the upper limitation of the rate band.
The GMP has basically 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.
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 an entirely offer-for-sale of 3.51 crore shares. The cost band for the IPO has actually been set between Rs 233 and Rs 245 per share.
Retail financiers can take part in the IPO by bidding for a single lot size of 61 shares, requiring an 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 a minimum of 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 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 very same day.
Shares of Crizac are tentatively scheduled to be listed on the BSE and NSE on July 9.
Equirus Capital Pvt. is the book-running lead manager of the . 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 totally an offer-for-sale.
About Crizac Ltd.
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. Crizac is a B2B education business. It remains in business of offering student recruitment options to worldwide institutions of college in nations such as the UK, Australia and Canada. It was integrated in 2011.
Disclaimer: Investments in initial public offerings undergo market risks. Please seek advice from financial advisors and check out the red herring prospectus thoroughly before positioning bids.