Education platform provider Crizac Ltd is set to launch its initial public offering (IPO) worth more than Rs 850 crore. The mainboard issue will open for subscription on July 2.

The company provides student recruitment solutions to international education institutions. Investors who want to bid in the IPO must check the following details before applying for the company’s shares.

Crizac IPO GMP Today

The grey market premium (GMP) for the Crizac IPO stood at nil as of 10:30 a.m. on July 1. It indicates a potentially flat listing for the offer. However, new trends could emerge as the issue opens for subscription. 

Note: GMP does not represent official data and is based on speculation.

Crizac IPO: Key Details

The Crizac IPO is a book-building issue of Rs 860 crores. The mainboard issue comprises entirely of an offer for sale of 3.51 crore shares.

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

Retail investors can invest in the IPO by bidding for a single lot size of 61 shares, requiring an investment of Rs 14,213.  Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,230. Big Non-Institutional Investors can participate by bidding for at least 67 lots. It will lead to an investment of Rs 10,01,315.

Investors can bid for shares in the IPO till July 4. The allotment of shares is expected to be done on July 7. Successful bidders will receive shares in their Demat accounts on July 8 and refunds for non-allottees will be done on the same day.

The IPO listing date has been tentatively scheduled for July 9. Shares of the company will be listed on the BSE and NSE.

A maximum of 50% of the net offer will be allocated to Qualified Institutional Buyers. At least 35% of the net offer is reserved for retail investors. A minimum of 15% of the net offer will be offered to Non-Institutional Investors.

Equirus Capital Pvt. is the book-running lead manager of the Crizac IPO. MUFG Intime India Pvt. is the registrar for the issue.

Use Of Proceeds

The company will not get any proceeds from the IPO as it’s entirely an offer-for-sale. 

About Crizac

Crizac Ltd. is a B2B education company that provides student recruitment solutions to international 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 risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.Crizac IPO is a book-building issue worth Rs 860 crore, comprising entirely an offer-for-sale (OFS) of 3.51 crore shares.  Read MoreIPOs 

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