Crizac' initial public offering was subscribed 0.46 times or 46% on its first day of bidding on Wednesday.
The IPO will close on July 4. The price band for the IPO is set at Rs 233 to Rs 245 per share.
The proposed IPO is entirely an offer for sale worth up to Rs 860 crore, with no fresh issue component. The face value of each share is Rs 2. Investors can bid for a minimum of 61 shares, and then in multiples thereof. The promoters offloading their stake are Pinky Agarwal and Manish Agarwal.
Equirus Capital Pvt. and Anand Rathi Advisors Ltd. are the book-running lead managers to the issue. MUFG Intime India Pvt. is the registrar.
IPO Details
Issue opens: July 2.
Issue closes: July 4.
Anchor investor bidding: July 1.
Issue price band: Rs 233 to Rs 245.
Lot size: Minimum 61 shares and in multiples thereafter.
Total issue size: Rs 860 crore (3,51,02,040 shares).
Type: Offer for sale.
Tentative listing date: July 9.
Subscription Status: Day One
The issue has been subscribed 0.46 times or 46% as of 5 p.m.
Qualified institutional buyers: 0.09 or 9%
Non-institutional buyers: 0.62 or 62%.
Retail investors: 0.60 times or 60%.
Portion reserved for employees: Nil.
GMP
The grey market premium of the Crizac IPO is Rs 32 as of 5:30 p.m. on Wednesday, according to InvestorGain. This implies shares of the company will likely list at Rs 277 apiece, indicating a 13.06% premium to the upper end of the price band.
It should be noted that GMP, or grey market price, is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisers and read red herring prospectus thoroughly before placing bids.
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