Crizac IPO subscription: The initial public offering (IPO) of Crizac Limited, which closed for subscription today, July 4, saw a stellar response, amid high demand from qualified institutional buyers and positive views from top brokerages. The strong grey market premium (GMP) also drove investor interest in the Crizac IPO.
Crizac IPO Subscription Status
At the end of the three-day bidding process, Crizac IPO garnered 1,54,56,79,366 bids against 2,58,36,909 shares on offer, resulting in an oversubscription of 59.82 times.
The retail portion was booked 10.24 times while the non-institutional investor (NII) quota was subscribed 76.15 times. The qualified institutional buyers (QIB) segment received 134.35 times bids.
Crizac IPO GMP
Crizac IPO GMP was at ₹42 today, the highest over the last few days. At the current GMP and its issue price of ₹245, Crizac IPO shares could see a strong listing pop of 17.14%. The shares of Crizac IPO are slated to list on the mainboard indices — BSE and NSE — on July 9.
Crizac IPO Details
Crizac IPO bidding opened for bidding on July 2 and concluded today. Now, the investor focus will shift to the Crizac IPO allotment, which is expected to be finalised on Monday, July 7.
Crizac IPO, worth ₹860 crore, is entirely an offer for sale (OFS) of 3.51 crore shares. This means the company will not receive any proceeds from the sale of shares.
Crizac IPO was priced in the ₹233 to ₹245 apiece, with a minimum lot size of 61 shares. Equirus Capital Private Limited is the book-running lead manager of the Crizac IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.
Analysts largely recommended subscribing to Crizac IPO. The company is a B2B education platform that facilitates international student recruitment for higher education institutions worldwide.
At the upper band of Crizac’s IPO price – a P/E of 28x on FY25 earnings – appears reasonable, considering its growth momentum, operational scalability, and leadership in UK-bound student recruitment, said BP Wealth. Given its differentiated B2B positioning and strong financial profile, it recommended a ‘Subscribe’ rating for this issue.
Choice Broking, Canara Bank Securities, Nirmal Bang and SBICAP Securities have also suggested applying for the IPO.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
