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

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

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Crizac Ltd., a supplier of student recruitment options to education business, released its going public on July 2 to raise over Rs 850 crore.

The mainboard issue opened to a weak need from financiers on Wednesday. The IPO was subscribed only 46% on the first day of bidding.

Despite the muted reaction so far, 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 as of 1:34 p.m. on July 3. The current GMP indicates a listing cost of Rs 276 each 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 climbed up to Rs 32 before ending day 1 at Rs 39 per share.

Note: GMP does not represent main information 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 comprises an entirely offer-for-sale of 3.51 . 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 an investment of Rs 2,09,230. Big Non-Institutional Investors can get involved 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 deal, 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 allocation 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 exact same day.

Shares of Crizac are tentatively set up to be noted 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 issue.

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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 is in business of offering student recruitment solutions to global institutions of higher education in countries such as the UK, Australia and Canada. It was incorporated in 2011.

Disclaimer: Investments in initial public offerings are subject to market threats. Please talk to monetary consultants and read the red herring prospectus thoroughly before positioning bids.