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 solutions to education business, launched its going public on July 2 to raise over Rs 850 crore.

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

Despite the muted reaction up until now, the grey market for the general public problem acquired 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 current GMP shows a listing rate of Rs 276 apiece at a premium of 12.65%, compared to the ceiling of the rate band.

The GMP has more or less doubled considering that the IPO opened for subscription 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.
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About Crizac IPO

The Crizac IPO is a book-building concern worth Rs 860 crore. It consists of a totally offer-for-sale of 3.51 crore shares. The cost band for the IPO has been set in between Rs 233 and Rs 245 per share.
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Retail financiers can take part in the IPO by bidding for a single lot size of 61 shares, needing a financial 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 take part by bidding for a minimum of 67 lots, amounting to a minimum financial 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 investors.

Investors can buy 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 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 supervisor of the Crizac IPO. MUFG Intime India Pvt. is the registrar for the issue.

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