Crizac IPO Subscribed Nearly 60 Times On Last Day Of Bidding
The subscription was led by qualified institutional buyers (134.35 times), followed by non-institutional buyers (76.15 times) and retail investors (10.24 times).
Crizac Ltd.'s initial public offering was subscribed 59.82 times on its last day of bidding on Friday.
The IPO has now closed for bidding. The price band for the IPO was Rs 233 to Rs 245 per share.
The proposed IPO was entirely an offer for sale worth up to Rs 860 crore, with no fresh issue component. The face value of each share was Rs 2. The promoters offloading their stake were 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 opened: 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.
Allotment Date: July 7.
Tentative listing date: July 9.
Crizac IPO Subscription Status: Day Three
The issue has been subscribed 59.82 times as of 7 p.m.
Qualified institutional buyers: 134.35 times.
Non-institutional buyers: 76.15 times.
Retail investors: 10.24 times.
Portion reserved for employees: Nil.
Crizac IPO: GMP
The grey market premium of the Crizac IPO is Rs 40 as of 6:33 p.m. on Friday, according to InvestorGain. This implies shares of the company will likely list at Rs 285 apiece, indicating a 16.33% 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.
