What does the cryptic crossword clue "Greyish binder distributed around university (5)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Greyish binder distributed around university (5)

Guardian Cryptic #28896 | 24 Across | 2022-10-24

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I haven't cracked this one yet — but the brilliant team at Fifteensquared have:

U in TAPE

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