Mumbai29 minutes ago
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The IPO of Crizack Limited has been opened today i.e. from July 2. Investors will be able to bid till 4 July for this issue. On July 9, the company shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company wants to raise Rs 860 crore through this IPO.
3.51 crore shares will be sold in this IPO. This IPO will be completely offer for sale (offs). That is, the existing shareholders of the company (such as promoters, investors or other big shareholders) will introduce the public to sell the shares of the company with them. This means that the company is not issuing new shares to raise money, but already existing shares are being sold.
How much money can you spend minimum and maximum? Crizack Limited has fixed the price band of IPO ₹ 233 – 245. Retail investors can do bidding for minimum for 61 shares. If you apply for 1 lot for 1 lot at the rate of ₹ 245, the upper prize band of the IPO, then ₹ 14,945 will have to be invested for this.
At the same time, retail investors can apply for maximum 13 lots i.e. 793 shares. For this, investors will have to invest ₹ 1,94,285 according to the upper prize band.
35% of the issue reserved for retail investors The company has reserved 50% of the IPO for qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for non-institutional investors (NII).
What does the company do? Crizac Limited began in 2011 and the company makes connections between students and foreign universities wishing to study abroad. The company works as a student admission for universities in UK, Canada, Australia, New Zealand and Ireland.
What is IPO? When a company releases its shares for the common people for the first time, it is called an initial public offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
