Crizac IPO Listing: Strong Demand Sees Shares List at Over 14% Premium on BSE and NSE

Strategic Insights -

Crizac, a B2B education company, made its stock market debut today with shares listing at a premium of over 14% on both the BSE and NSE. The initial public offering (IPO) was an offer-for-sale (OFS) of 3.51 crore equity shares by the company's foreign partner, without a fresh issue component. The Rs 860 crore IPO saw strong demand from all categories of investors, with the overall subscription standing at 62.89 times.

Key Takeaways:

  • Crizac IPO listed at a premium of Rs 280 on the BSE, a gain of 14.29% over the issue price, and at Rs 281.05 on the NSE, a premium of 14.71%.
  • The IPO was entirely an offer-for-sale (OFS) of 3.51 crore equity shares by the company's foreign partner, with no fresh issue component.
  • The issue saw a strong response from all categories of investors, with the overall subscription standing at 62.89 times, including QIBs subscribing 141.27 times, NIIs 80.07 times, and retail portion 10.74 times.
  • The company raised Rs 258 crore from anchor investors on July 1 by allotting 1.05 crore shares at Rs 245 per share.
  • The anchor book saw participation from well-known institutions such as Societe Generale, Pinebridge Global Funds, and ICICI Prudential Mutual Fund, among others.
  • The IPO was managed by Equirus Capital as the lead book-running manager, with MUFG Intime India Private Limited as the registrar.
  • Crizac operates in the B2B education space, providing student recruitment solutions to higher education institutions in countries like the UK, Australia, Canada, Ireland, and New Zealand.

Statistics:

  • The Crizac IPO was subscribed 62.89 times, with QIBs subscribing 141.27 times, NIIs 80.07 times, and retail portion 10.74 times.
  • The company raised Rs 258 crore from anchor investors on July 1, with the anchor book allotting 1.05 crore shares at Rs 245 per share.
  • The IPO saw a strong response from all categories of investors, with the overall subscription numbers:

* QIBs: 141.27 times

* NIIs: 80.07 times

* Retail portion: 10.74 times

  • Crizac operates in 5 countries: UK, Australia, Canada, Ireland, and New Zealand.

Sources:

  • IE Online Media Services Pvt. Ltd., distributed by Contify.com