Crizac IPO Sees Robust Demand from HNIs and Retail Investors
By Shishta Dutta | Updated at: Oct 14, 2025 02:15 PM IST
Mumbai, 3 July 2025: Crizac Limited’s ₹860-crore initial public offering (IPO) has witnessed remarkable interest from non-institutional and retail investors, with the issue being fully subscribed by the second day of bidding. As of 4:15 PM, the IPO received an overall subscription of 2.89 times, showcasing the strong appetite among individual investors. However, qualified institutional buyers (QIBs) have yet to show significant engagement, keeping the final outcome closely watched.
HNIs Drive Momentum with Subscriptions Nearly Six Times Higher Than Allocation
High net-worth individuals (HNIs) emerged as the strongest contributors to Crizac’s IPO subscription numbers. By Day 2, the non-institutional investor (NII) segment had been subscribed 6.61 times, signalling high conviction from both large and mid-sized investors.
Breakdown of NII Participation
| Category | Shares Reserved | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 70,20,407 | 11,12,762 | 0.16 |
| Non-Institutional Investors (NIIs) | 52,65,306 | 3,48,01,842 | 6.61 |
| Retail Individual Investors (RIIs) | 1,22,85,714 | 3,51,03,243 | 2.86 |
| Total | 2,45,71,427 | 7,10,17,847 | 2.89 |
Retail Bidders Show Strong Confidence in IPO Pricing
Retail individual investors (RIIs) also turned out in large numbers, contributing to a 2.86x subscription of their allotted quota.
Crizac IPO Subscription Status (As of 5:47 PM, 3 July 2025)
| Sub-Category | Shares Bid For | Subscription (x) |
|---|---|---|
| NIIs (Bid > ₹10 lakh) | 1,26,52,010 | 7.21 |
| NIIs (Bid ₹2–10 lakh) | 2,21,49,832 | 6.31 |
All Eyes on Final Day as IPO Crosses Full Subscription Milestone Early
The IPO’s early success has already ensured full subscription, thanks to the overwhelming participation from individual investors. The focus now shifts to the last day of bidding, where institutional buyers could provide the final boost to elevate overall subscription figures and set a strong benchmark for listing.
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