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What is the story about?
Shares of B2B education platform Crizac Ltd. are expected to remain in focus on Thursday, January 8, as the company's six-month shareholder lock-in comes to an end.
Around 104.9 million shares, or nearly 60% of the company's total outstanding equity, will become eligible for trading on Thursday, according to Nuvama Alternative and Quantitative Research.
Based on Wednesday's closing price, the value of shares that will free up for trade once the lock-in ends is about ₹2,885 crore.
It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market. They only become eligible to be traded.
Crizac Ltd., incorporated in 2011, operates as a B2B education platform focused on international student recruitment solutions for higher education institutions across the United Kingdom, Canada, the Republic of Ireland, Australia and New Zealand.
The company helps universities expand their global reach by sourcing student applications from more than 75 countries through an extensive network of agents.
In an interaction with CNBC-TV18 last year, the management said it plans to add adjacent services such as student loans and housing to its platform, citing that there is negligible incremental investment required to introduce new offerings.
The company is also looking to expand into additional geographies, including the US, Ireland and Dubai.
Based on the September quarter shareholding pattern, promoters of Crizac had a 79.94% stake in the company, which is marginally higher than the Minimum Public Shareholding norms of 75%.
Among public shareholders, Mutual Funds have close to 1% stake in the company, while FPIs had close to 4% holdings. Close to 60,000 small retail shareholders, or those with authorized share capital of up to ₹2 lakh had a 7.6% stake in Crizac as of September 30.
Shares of Crizac Ltd. ended 0.36% lower on Wednesday at ₹275. The stock is trading about 12% above its issue price of ₹245.
Around 104.9 million shares, or nearly 60% of the company's total outstanding equity, will become eligible for trading on Thursday, according to Nuvama Alternative and Quantitative Research.
Based on Wednesday's closing price, the value of shares that will free up for trade once the lock-in ends is about ₹2,885 crore.
It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market. They only become eligible to be traded.
Crizac Ltd., incorporated in 2011, operates as a B2B education platform focused on international student recruitment solutions for higher education institutions across the United Kingdom, Canada, the Republic of Ireland, Australia and New Zealand.
The company helps universities expand their global reach by sourcing student applications from more than 75 countries through an extensive network of agents.
In an interaction with CNBC-TV18 last year, the management said it plans to add adjacent services such as student loans and housing to its platform, citing that there is negligible incremental investment required to introduce new offerings.
The company is also looking to expand into additional geographies, including the US, Ireland and Dubai.
Based on the September quarter shareholding pattern, promoters of Crizac had a 79.94% stake in the company, which is marginally higher than the Minimum Public Shareholding norms of 75%.
Among public shareholders, Mutual Funds have close to 1% stake in the company, while FPIs had close to 4% holdings. Close to 60,000 small retail shareholders, or those with authorized share capital of up to ₹2 lakh had a 7.6% stake in Crizac as of September 30.
Shares of Crizac Ltd. ended 0.36% lower on Wednesday at ₹275. The stock is trading about 12% above its issue price of ₹245.
