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

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

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Crizac Ltd., a service provider of trainee recruitment services to education business, launched its initial public offering on July 2 to raise over Rs 850 crore.

The mainboard problem opened to a weak need from investors on Wednesday. The IPO was subscribed just 46% on the very first day of bidding.

Despite the soft reaction up until now, the grey market premium for the general public concern gotten 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 most recent GMP indicates a listing cost of Rs 276 each at a premium of 12.65%, compared to the ceiling of the cost band.

The GMP has more or less doubled since the IPO opened for membership on Wednesday. It was Rs 21 on July 2 and later on climbed up to Rs 32 before ending day 1 at Rs 39 per share.

Note: GMP does not represent main 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 consists of a completely offer-for-sale of 3.51 crore shares. The price band for the IPO has been set in between Rs 233 and Rs 245 per share.

Retail investors can get 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, amounting to a financial investment of Rs 2,09,230. Big Non-Institutional Investors can participate by bidding for at least 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 assigned 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 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 very same day.

Shares of Crizac are tentatively arranged to be noted 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 company will not get any funds from the IPO as it’s completely an offer-for-sale.

About Crizac Ltd.

. Crizac is a B2B education business. It remains in the organization of offering student recruitment options to worldwide organizations of greater education in countries such as the UK, Australia and Canada. It was included in 2011.

Disclaimer: Investments in going publics undergo market risks. Please seek advice from financial consultants and check out the red herring prospectus completely before positioning quotes.