Crizac Shares Debut With Decent Gains As Stock Lists With 15% Premium On NSE

Crizac IPO Listing Date: Crizac Ltd shares made their debut on the NSE and BSE on July 9 with modest gains. Crizac shares listed on the NSE at Rs 281.05 apiece, up 15 per cent compared to the upper end of the public issue’s price band of Rs 245 apiece. The stock listed with a premium of 14.28 per cent on the BSE at Rs 280 apiece. The stock soon surged over 16 per cent compared to the issue price to trade at an early high of Rs 284.9 apiece on the NSE.

Crizac IPO Listing Price

Retail investors who were allotted at least one lot or 61 shares would have made a minimum profit of Rs 2,196 (Rs 281 - Rs 245 x 61) after the stock started trading on the exchange. After the stock began to trade, 75.69 lakh shares of the company changed hands on the NSE. The company's total market capitalisation stood at Rs 4,956.55 crore.

Crizac IPO: Details

The Crizac IPO was worth Rs 860 crore. The book-built issue consisted of an offer for sale of 3.51 crore shares. Crizac Ltd fixed the issue price for its IPO between Rs 233 and Rs 245 per share. The promoters of the company Pinky Agarwal and Manish Agarwal also pared their stake in the company in the OFS. After the completion of the issue, the stake of the two promoters reduced to 80.48 per cent.

Crizac IPO: Lot Size and Subscription

The minimum lot size for application for retail investors was fixed at 1 lot or 61 shares, which aggregated to an investment of Rs 14,213. Crizac IPO was booked 59.82 times across categories as the public issue received bids for 1,54,56,80,464 shares compared to 2,58,36,909 shares reserved for the bidders. Crizac IPO was subscribed 10.24 times by retail individual investors. The mainboard issue also saw strong investor interest from the Non-Institutional Investor (NII) category in which it was subscribed 76.15 times and the Qualified Institutional Buyers(QIBs) category where the issue was booked 134.35 times.

About Crizac Ltd

Crizac Ltd is engaged in providing B2B services to agents and global institutions of higher education. The company functions as a platform for connecting higher education institutions across the globe with international student recruitment solutions. The company operates in countries such as United Kingdom, Canada, the Republic of Ireland, Australia and New Zealand (ANZ).

At the time of writing Crizac share price traded at Rs 292.27 apiece on the NSE up by 3.99 per cent.