SEBI RETURNS DRAFT IPO DOCUMENTS OF RECRUITMENT SOLUTION PROVIDER CRIZAC

Sebi has returned the draft documents of student recruitment solution provider Crizac Ltd, which was looking to float Rs 1,000 crore Initial Public Offering (IPO), an update with the markets regulator showed on Monday. The move might delay the Kolkata-based company's initial share-sale. The proposed IPO was entirely an Offer For Sale (OFS) by promoters, Pinky Agarwal and Manish Agarwal, with no fresh issue component.

The OFS consists of the sale of equity shares worth Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal. The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in April.

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