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There’s a crackle in the air as Crizac’s IPO enters its second day of bidding. While the retail queue remains modest, the grey market is buzzing, with the premium more than doubling since yesterday. Investors are torn between early optimism and cautious fund flows—so what’s the real signal here?
What’s happening today
- IPO price band: Rs 233-245 per share, fully via offer-for-sale worth Rs 860 crore
- Grey market premium (GMP): Rs 39 today—up from Rs 21 on Day 1 and Rs 22–25 midday, a quick Rs 18 jump
- Day 2 subscription:
- Overall: 1.08x
- Retail: 1.32
- NII: 1.81x
- QIB: 0.1x
Why GMP is charging ahead
- Anchor investor backing: Rs 258 crore secured at Rs 245, indicating institutional faith
- Scalable, asset‑light model: Revenue up 76 per cent CAGR (FY23–25), PAT rising from Rs 110 cr to Rs 153 cr; FY25 EPS Rs 8.74 with ROE nearly 36 per cent and ROCE at around 40 per cent.
- Global education tailwind: Rising international students; edge through tech-connected agent network
What this means for investors
- GMP spike to Rs 39 suggests strong listing-day expectations, but beware: Grey market trading is unregulated and sentiment-driven.
- Fundamentally, Crizac scores well: debt-free, high cash flows, strong margins—but valuation is full, and growth depends on international student mobility and regulatory environments in key markets.
About Crizac
Founded in 2011 and based in Kolkata, Crizac is a B2B education-tech platform that helps international students find seats at global universities. With operations across the UK, Canada, Ireland, Australia and New Zealand, it connects 10,000+ agents to over 170 institutions and processed 7.11 lakh applications in FY25
The bottom line
Today’s Rs 39 GMP reflects enthusiasm, but fundamental investors should monitor closing subscription data, QIB appetite, and regulatory factors before subscribing at Rs 245. If you believe in the long-term global education boom and Crizac’s model, this could be worth your attention—just don’t buy the hype blind.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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