Crizac shares jump nearly 26 pc in market debut trade

New Delhi, Jul 9 (PTI) Shares of student recruitment solutions provider Crizac Ltd on Wednesday ended with a premium of nearly 26 per cent against the issue price of Rs 245.

The stock made its market debut at Rs 280, a jump of 14.28 per cent from the issue price on the BSE. Later, it zoomed 25.69 per cent to Rs 307.95. Shares of the firm finally ended at Rs 307.45 apiece, up 25.48 per cent.

On the NSE, the stock started trading at Rs 281.05, a premium of 14.71 per cent. It ended at Rs 307.63, surging 25.56 per cent from the issue price.

The company's market valuation stood at Rs 5,379.84 crore.

The initial public offering of Crizac Ltd got subscribed 59.82 times on the closing day of bidding on Friday last week.

The Rs 860-crore initial share sale had a price band of Rs 233-245 per share.

The IPO was entirely an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal with no fresh issue component, as per the red herring prospectus.

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. PTI SUM SUM SHW