Here’s a live snapshot of Day 2 (July 3) for Crizac Limited’s SME IPO, the Kolkata-based B2B education-services platform, with updates from NSE, Business Standard, Mint, NDTV, and ET Markets.
1. Subscription Status
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Overall subscription: ~1.01×
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2.61 crore bids vs. 2.58 crore shares offered.
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NIIs: 1.68× .
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Retail: 1.25×.
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QIBs: Weak at just 9%.
2. Grey Market Premium (GMP)
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GMP at ₹39, implying ~15.9% premium over the ₹245 upper band.
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Witnessed a steady rise: ₹21 → ₹32 → ₹39 over two days
3. IPO Structure & Timeline
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Offer for Sale (OFS) of ₹860 crore; no fresh capital issued.
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Price band: ₹233–245; lot size: 61 shares (~₹14,945).
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Anchor investors: ₹258 crore tied up before public issue
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Subscription closes: July 4; allotment by July 7; listing on July 9 on NSE/BSE.
4. Company Overview & Financials
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Business model: International student-recruitment services spanning 75+ countries.
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Revenue: ₹274 cr (FY23) → ₹849 cr (FY25): ~76% CAGR.
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Profit After Tax: ₹110 cr → ₹153 cr; EPS ~₹8.74, net margins ~18%, debt-free.
5. Analyst Views
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Geojit: Recommends a medium-to‑long-term hold.
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Deven Choksey Research: Rated “Neutral” .
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Canara Bank Securities: “Subscribe,” citing high RoNW (~30%) and scalability .
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Fynocrat Technologies: Valuation at ~28× P/E, ~8.5× P/B; moderate pricing.
Final Take
Crizac IPO Day 2 shows healthy market interest—led by retail and NIIs—with GMP surging. Strong financial growth, debt-free position, and positive analyst outlook make it attractive. Institutional caution and regulatory concerns remain important caveats. Best suited for investors eyeing medium‑term gains in the global education-tech space.
Read more on our website: Future Ready, your go-to platform for the best educational content and latest updates.
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