IPO Watch: Crizac IPO Lists At 15% Premium - How Does Your Return Compare To The Grey Market Buzz?

Crizac shares opened strong on the stock exchanges on Wednesday, July 9, registering a healthy debut, but listing gains were a touch below market expectations.

Crizac made its debut on the NSE at Rs 281.05 per share, marking a 15% premium over its issue price of Rs 245. On the BSE, the shares opened slightly lower at Rs 280, still reflecting a 14.29% premium.

Crizac Share Price Today
As of 10:39 AM, the Crizac share price had surged further, trading at Rs 293.15 on both BSE and NSE. This marked an increase of Rs 13.15 (4.70%) on BSE and Rs 12.10 (4.31%) on NSE from the respective opening prices.

Crizac GMP Today 
As per market tracker website, prior to the listing, Crizac shares were trading in the grey market at a premium of Rs 40–42 per share, implying a listing gain of 16%–17%. However, the actual opening premium fell slightly short of these expectations, reflecting some cooling of sentiment despite the strong fundamentals.

IPO Oversubscribed Nearly 60 Times
The Crizac IPO, which ran from July 2 to July 4, drew massive interest from investors across categories:
Qualified Institutional Buyers (QIBs): 134.35x
Non-Institutional Investors (NIIs): 76.15x
Retail Individual Investors (RIIs): 10.24x

In total, the IPO was subscribed 59.82 times, with over 19.21 lakh applications received. The price band was set at ₹233–₹245, and the IPO consisted entirely of an offer-for-sale (OFS) of 3,51,02,040 equity shares, raising approximately ₹860 crore.

Crizac’s Business Model: A B2B Education Powerhouse
Incorporated in 2011 and headquartered in Kolkata, Crizac is a business-to-business (B2B) education platform that provides international student recruitment services to higher education institutions. The company primarily operates in the UK, Canada, Ireland, Australia, and New Zealand, helping connect global universities with education agents in India and other countries.

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