Fri Jul 04 03:40:00 UTC 2025: Okay, here’s a summary and a news article based on the provided information:

**Summary:**

Crizac Limited launched its IPO on July 2, 2025, aiming to raise ₹860 crores through an offer for sale of 3.51 crore shares. The price band is ₹233-₹245 per share. The IPO closes on July 4, 2025, with allotment expected on July 7, 2025, and listing on BSE and NSE tentatively on July 9, 2025. Subscription on day 1 was tepid at 0.10 times overall. Equirus Capital and Anand Rathi are the lead managers. The company, a B2B education platform facilitating international student recruitment, will not receive any proceeds from the IPO, as it’s entirely an offer for sale by existing shareholders. Early grey market premium (GMP) suggests a potential listing price of ₹266, a premium of 8.57%.

**News Article:**

**Crizac Limited IPO Opens to Lukewarm Response, GMP Suggests Positive Listing**

**Mumbai, July 2, 2025** – Crizac Limited, a B2B education platform connecting agents and global institutions, launched its Initial Public Offering (IPO) today, July 2, 2025, seeking to raise ₹860 crores. The IPO, which is entirely an offer for sale (OFS) of 3.51 crore shares by existing shareholders, is priced between ₹233 and ₹245 per share. The bidding window will remain open until July 4, 2025.

Early subscription data reveals a tepid initial response. On Day 1, the IPO was subscribed only 0.10 times overall. Retail investors subscribed 0.16 times their quota, while Qualified Institutional Buyers (QIBs) showed minimal interest with 0.00 times subscription, and Non-Institutional Investors (NIIs) subscribed 0.06 times.

The allotment process is expected to be finalized on July 7, 2025, with the shares tentatively scheduled to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, July 9, 2025.

Equirus Capital Private Limited and Anand Rathi Advisors Limited are the book-running lead managers for the IPO, while MUFG Intime India Private Limited is the registrar.

Founded in 2011, Crizac Limited operates as a B2B education platform, connecting agents with institutions in countries like the UK, Canada, Ireland, Australia, and New Zealand. As of September 2024, the company has a network of approximately 7,900 agents and has processed over 5.95 lakh student applications. Notably, the company will not receive any proceeds from the IPO, as all funds will go to the selling shareholders.

Despite the slow initial subscription, the grey market premium (GMP) for Crizac Limited shares is currently at ₹21, according to Livemint, indicating a potential listing price of ₹266. This represents a premium of 8.57% over the upper end of the price band.

( *Disclaimer: Grey Market Premium (GMP) is an unauthenticated market indicator and should not be the sole basis for investment decisions. Investors are advised to conduct their own research before investing.*)

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