Crizac Raises Rs 258 Crore From Anchor Investors Prior To IPO Launch
The education platform will launch its initial public offering on Wednesday to raise up to Rs 860 crore.
Crizac Ltd. raised Rs 258 crore from anchor investors on Tuesday ahead of its initial public offering. The company allotted 1.05 crore shares at Rs 245 apiece to 19 anchor investors.
Shamyak Investment Pvt. got the highest allocation of 13.95%. Aryabhata Global Assets Funds Icav- Aryabhata India Funds got the second highest allotment of 10.84%. ICICI Prudential Flexicap Fund and Allianz Global Investors Fund-Allianz India Equity got 8.14% stake each in the company.
Three domestic mutual funds have applied through five schemes. ICICI Prudential, Bandhan Balanced and Motilal Oswal were among the fund houses in this category, the student recruitment solution provider said in an exchange filing.
The education platform will launch its IPO on Wednesday to raise up to Rs 860 crore. The company has set a price band of Rs 233-245 per share for its three-day IPO, which only comprises an offer for sale of 3.51 crore shares. The minimum application lot size is 61 shares.
The offer, which concludes on Friday, is set to list on the BSE and the National Stock Exchange. The IPO listing date has been tentatively scheduled for July 9.
The company will not receive any proceeds from the IPO as the issue consists only of OFS. The entire proceeds will be received by the promoters of the company.
Equirus Capital Pvt. is the book-running lead manager, while MUFG Intime India Pvt. is the registrar for the issue.
Crizac Ltd. is a B2B education company that provides student recruitment solutions to international institutions of higher education in countries, such as the UK, Australia and Canada. It was incorporated in 2011.
