Crizac IPO Listing: Crizac shares listed at ₹280 on BSE, which is ₹35 or about 14% higher than the issue price
Amidst market fluctuations, the IPO of Crizac Limited provided impressive returns to investors. The company's shares were listed in the stock market on Wednesday, July 9, and this day proved to be a profitable one for retail investors. Crizac's share listed on the NSE at a price of ₹281, which is ₹36 more than its issue price of ₹245. Meanwhile, it opened at ₹280 on the BSE.
Thus, Crizac shares gave a return of 14 to 15 percent on the first day itself. Investors made a profit of around ₹2200 per lot.
Details of Issue Price and Lot Size
The company had fixed the price band for its IPO at ₹233 to ₹245 per share. Retail investors had to bid for 61 shares for one lot. That is, an investment of ₹14,945 had to be made per lot. At the time of listing, if an investor was allotted shares and sold them at the listing, they made a net profit of about ₹2200 per lot.
Strong Participation from Investors
Crizac's IPO received a tremendous response from investors. According to NSE data, this IPO was subscribed a total of 59.82 times. Institutional investors, in particular, showed keen interest in it.
- The QIB category was subscribed 134.35 times
- The NII category was filled 76.15 times
- The retail investors' portion was subscribed 10.24 times
This tremendous response already indicated that the company's listing could be b.
IPO was entirely OFS
This public issue of Crizac was entirely an Offer for Sale (OFS). This means that the existing shareholders of the company sold some of their shares in the market, and the company did not directly receive any capital from it. The amount received through the IPO will go entirely to the investors who sold the shares.
A Glimpse of the Company's Business
Crizac Limited is a leading company associated with the education sector, providing global-level university and college consulting services. The company connects students in India with foreign universities. Along with this, Crizac also focuses on digital technology and innovation related to education.
The company's focus is not only on India but also on countries like the UK, Australia, the US, and Canada to get students admitted and provide career guidance. The ever-increasing demand in this sector creates a positive perception in the market regarding Crizac's future growth.
The Atmosphere Created Even Before the Issue Opened
Crizac's issue opened on July 2 and closed on July 4. In this three-day bidding process, investors of all categories showed great interest. Everyone, from institutional investors to retail traders, tried to take advantage of this opportunity. The heavy subscription made it clear that a sharp jump could be seen in the share at the time of listing.
Crizac's Performance in a Weak Market
The market started slow on the day of listing. Both Sensex and Nifty saw a slight decline in early trading. Despite this, Crizac's shares started well and lived up to the expectations of investors. This shows investors that any IPO can perform better even in a weak market based on good fundamentals and popularity.
Company's Position
Although the company did not get any new capital from this IPO, its brand value and market exposure definitely increased with the listing. The company will now do business with more transparency and can strengthen its existing service model.
Listing is a milestone for Crizac, which promises investors better corporate governance, business expansion, and global positioning in the coming time.
Crizac's Important Role in the Market
Looking at the initial figures and listing performance, it can be said that Crizac's IPO was not only oversubscribed but also lived up to the expectations of the investors. Its role will be important in the company's future plans and direction of expansion.
Crizac's b entry on Dalal Street has proved that if the company's model is reliable and investors see possibilities, then the IPO, whether small or large, leaves its mark in the market.
