Crizac IPO Day 3: Check Final Day Subscription Status, GMP, And Key Details

As Crizac Ltd’s IPO concludes today, investor interest remains strong, with solid participation from retail and non-institutional investors pushing subscription levels sharply higher. According to data available on a market tracking website, the Rs 860 crore initial public offering has been subscribed over 4.8 times, with significant traction observed across key investor categories.

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 3: Price Band and Share Allotment

Crizac’s IPO is priced in the band of Rs 233 to Rs 245 per equity share, with a minimum lot size of 61 shares. At the upper end of the band, the entry-level investment comes to roughly Rs 14,945.

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 Day 2: Check the Latest GMP, Price Band, Subscription Status And Key Details | Republic World

Crizac IPO Day 3: Subscription Status

The offer has generated impressive retail participation, with that segment seeing oversubscription of around 3.8 times. Interest among non-institutional investors was even more striking, with the category subscribed over 13 times. However, institutional demand has remained somewhat muted, with qualified institutional buyers subscribing around 0.2 to 0.3 times as of the latest update, as per the market tracking website.

Crizac IPO Day 3: Grey Market Premium

Investor sentiment in the unofficial market continues to support optimism. Crizac IPO's last grey market premium (GMP) was Rs 32, as updated at 11:28 AM on July 4, 2025. With the IPO’s upper price band set at Rs 245, this translates to an estimated listing price of Rs 277. The expected per-share gain stands at 13.06%, offering a promising listing outlook for applicants eyeing short-term gains.

Crizac IPO Day 3: Key Dates to Look Out For

The IPO closes today, July 4. The 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, subject to regulatory approvals.

 About the Company

Crizac Ltd, based in Kolkata, operates as a B2B international student recruitment platform catering to educational institutions in the UK, Canada, Australia, Ireland, and New Zealand. The company claims to work with more than 10,000 student recruitment agents across its target geographies and has seen its revenue and profit grow at a healthy clip in recent years.

From Rs 274 crore in FY23, Crizac’s revenue rose to Rs 849 crore in FY25. Net profit climbed to Rs 152 crore in the same period, with the company maintaining a debt-free balance sheet.

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