Crizac IPO Day 2: Check the Latest GMP, Price Band, Subscription Status And Key Details

The initial public offering (IPO) of Crizac Limited entered its second day of bidding on Thursday, with investor interest gradually picking up pace. The Rs 860 crore public issue, which opened on July 2, has seen steady traction from retail investors and non-institutional investors (NIIs), while institutional participation is still catching up.

The IPO is entirely an Offer for Sale (OFS), with no fresh issue of shares, comprising 3.51 crore equity shares being offloaded by existing shareholders.

Crizac IPO Day 2: Price Band and Share Allotment

Crizac’s IPO, which opened for subscription on July 2, is being offered in a price band of Rs 233 to Rs 245 per share, with a face value of Rs 2. Retail investors can apply for a minimum lot size of 61 shares, requiring an investment of Rs 14,213.

For non-institutional investors, the minimum bid for small NII (sNII) applicants is 14 lots, which amounts to 854 shares and requires an investment of Rs 2,09,230. Meanwhile, big NII (bNII) applicants must bid for a minimum of 67 lots, equivalent to 4,087 shares, amounting to Rs 10,01,315.

Equirus Capital Private Limited is acting as the lead manager for the Crizac IPO, while MUFG Intime India Private Limited (formerly Link Intime) has been appointed as the registrar to the issue.

Also Read: Crizac IPO: Check GMP, Subscription Status, Price Band, And Key Details | Republic World

Crizac IPO Day 2: Subscription Status

As of 10:50 AM on Wednesday, the IPO was subscribed 0.85 times overall. The retail investor portion was fully subscribed at 1.07 times, while the non-institutional investor (NII) segment stood at 1.38 times. However, the QIB portion remained largely unsubscribed at just 0.09 times.

Crizac IPO Day 2: Grey Market Premium

On Day 2, the grey market premium jumped sharply to Rs 39 per share, up from Rs 21 the previous day, signaling strong sentiment among unofficial market participants, as per a market tracking website. This implies a potential listing price of around Rs 284 per share—representing a premium of more than 15% over the upper price band.

Crizac IPO Day 2: Key Dates to Watch Out For

As per a market tracking website, the IPO window will remain open until Friday, July 4. Allotment of shares is expected to be finalized on July 7, with refunds processed by July 8. Successful applicants can expect shares to be credited to their demat accounts on the same day. The company is likely to debut on the NSE and BSE on July 9, as per a market tracking website.

About the Company

Crizac Limited, a B2B education platform facilitating international student recruitment for global higher education institutions, operates in the international education segment. Incorporated in 2011, it connects over 10,000 recruitment agents to universities in markets such as the UK, Canada, Australia, Ireland, and New Zealand through its B2B digital platform.

The company has witnessed strong financial growth in recent years. Its revenue grew from Rs 274 crore in FY23 to Rs 849 crore in FY25, registering a compound annual growth rate (CAGR) of 76%. Net profit also rose significantly to Rs 152 crore, with a robust margin of around 18%.

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