Crizac shares settled nearly 9 percent higher from its open price on the debut day at Rs 306 per share on the NSE. From the issue price, the stock settled 24.9 percent higher.
The shares listed at a healthy premium on the stock exchanges on Wednesday, July 9, following nearly 60 times subscription to its Rs 860-crore public issue in the primary market between July 2-4 at a price band of 233-245 per share.
Shares of the initial public offer (IPO) of student recruitment solutions provider Crizac Ltd were listed at Rs 281.05 per share on the NSE, a premium of 14.71 percent. On the BSE, the shares were listed at Rs 280 apiece, a premium of 14.29 percent. The total market capitalization of the company stood at Rs 5,379.84 crore.
The listing of the shares of Crizac was almost at par with the expectations in the grey market, which had priced in up to 17 percent listing gains.
Ahead of listing, the shares of the company were commanding a GMP of about 17 percent in the unregulated market. Investorgain quoted a GMP of Rs 41.5 for the shares of the company, indicating a listing gain of 16.94 percent.
The Kolkata-based firm is a B2B education platform for agents and global institutions, offering international student recruitment solutions to global institutions of higher education in the UK, Ireland, Canada, Australia and New Zealand.
Crizac share listing today: Should you buy, sell or hold?
Mahesh M. Ojha, AVP Research & Business Development at Hensex Securities, said "Post-listing, investors who were allotted shares can consider booking partial profits, while holding the remaining portion to benefit from any further upside."
"Long-term investors may continue holding, as Crizac has strong potential in the international education services segment. New investors should consider accumulating the stock on dips. In summary, the listing premium appears fundamentally supported and Crizac offers both short-term gains and long-term potential," he added.
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