Crizac pre-market discovery price at 280 rupees, IPO at 245 rupees

Crizac pre-market discovery price at 280 rupees, IPO at 245 rupees

Crizac, a B2B education platform specializing in international student recruitment solutions, has seen significant investor interest in its upcoming Initial Public Offering (IPO). The company's pre-market discovery price was set at Rs 280 per share, while the IPO offer price is within the range of Rs 233 to Rs 245 per share.

The pre-market discovery price was determined based on market sentiments and the company's performance, which includes a consolidated net profit of Rs 152.93 crore and sales of Rs 849.49 crore for the twelve months ended on 31 March 2024 [4]. The IPO, which is solely an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal, has received bids for 154,56,79,488 shares against 2,58,36,909 shares on offer [3].

The IPO has been subscribed 59.82 times, with the Qualified Institutional Buyers (QIBs) category receiving 134.35 times subscription, Non-Institutional Investors (NIIs) 76.15 times, and Retail Individual Investors (RIIs) 10.24 times [1]. This strong demand indicates investor confidence in the company's growth prospects and business model.

Crizac's pre-market discovery price of Rs 280 per share was significantly higher than the IPO offer price range. This discrepancy could be attributed to several factors, including the company's strong financial performance, market expectations for future growth, and the limited availability of shares in the IPO. However, the IPO offer price remains attractive for investors seeking to participate in the company's growth.

References:
[1] https://www.business-standard.com/markets/capital-market-news/crizac-ipo-ends-with-59-82x-subscription-125070700336_1.html
[3] https://www.financialexpress.com/market/ipo-news-crizacs-rs-860-crorenbsp-ipo-gets-subscribed-59-82-times-3903429/
[4] https://www.business-standard.com/markets/capital-market-news/crizac-ipo-subscribed-2-75-times-125070300883_1.html