Crizac IPO Gets 4.72 Times Subscription Applications by Day 2
By Shishta Dutta | Updated at: Oct 13, 2025 12:20 PM IST
Mumbai, 4 July 2025: Crizac Limited’s ₹860-crore initial public offering (IPO) is witnessing investor demand on the final day of bidding, with total subscriptions reaching 4.72 times the offered shares by 11:00 AM. The surge is primarily fuelled by aggressive participation from non-institutional investors (NIIs) and retail buyers, even as Qualified Institutional Buyers (QIBs) begin ramping up their bids in the final stretch.
Crizac IPO Subscription Status
| Category | Shares Reserved | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 73,81,973 | 15,23,780 | 0.21 |
| Non-Institutional Investors (NIIs) | 55,36,481 | 7,17,14,894 | 12.95 |
| Retail Individual Investors (RIIs) | 1,29,18,455 | 4,86,07,057 | 3.76 |
| Total | 2,58,36,909 | 12,18,45,731 | 4.72 |
Non-Institutional Investors Drive the Momentum with Nearly 13x Subscription
A sharp upswing in demand from NIIs is powering the IPO’s overall momentum. The segment has already subscribed 12.95 times its allotted quota, with high-value bidders leading the charge.
NII Segment Subscription Status
| Sub-Category | Shares Bid For | Subscription (x) |
|---|---|---|
| NIIs (Bid > ₹10 lakh) | 5,08,58,750 | 13.78 |
| NIIs (Bid ₹2–10 lakh) | 2,08,56,144 | 11.30 |
The data indicates widespread interest across both high-ticket and mid-sized bids, suggesting that affluent individuals and larger retail entities are actively competing for a stake in the company.
Retail Investors Continue to Show Steady Enthusiasm
Retail Individual Investors (RIIs) have maintained strong momentum, subscribing 3.76 times their reserved portion. The majority of retail participation is through cut-off bids, reflecting confidence in the price discovery mechanism.
Retail Bid Details
| Bid Type | Shares Bid For |
|---|---|
| Cut-off Bids | 4,15,29,776 |
| Price Bids | 70,77,281 |
This indicates a clear willingness among retail investors to secure allocation even without bidding at a specific price, reinforcing their optimism about the IPO’s valuation.
Qualified Institutional Buyers Begin to Increase Participation
Although institutional subscription remains relatively low, activity from QIBs is gradually picking up pace, with 21% of the quota now subscribed. This participation is expected to increase further by the end of the bidding window at 7:00 PM.
QIB Bid Breakdown:
- Foreign Institutional Investors (FIIs): 6.36 lakh shares
- Banks/Insurance/Financial Institutions: 19,764 shares
- Others (NBFCs, AIFs, etc.): 8.67 lakh shares
Institutional investors often bid in the latter part of the day, and this emerging traction suggests a potentially strong finish in this segment.
Overall Bidding Trends Indicate High Confidence in Crizac’s Prospects
With hours still remaining before the 7:00 PM deadline, investor sentiment remains bullish. The strong show across NII and retail segments, coupled with late-day institutional interest, positions Crizac Limited’s IPO for a robust close, setting the stage for what could be a high-profile market debut.
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