Crizac IPO Opens On July 2: Price Band Set at Rs 233–Rs 245, Key Dates, Issue Details, & Financial Highlights

Crizac Ltd, a leading B2B education platform specializing in international student recruitment, is all set to launch its Initial Public Offering (IPO) from July 2 to July 4, 2025. The company has fixed the IPO price band between Rs 233 and Rs 245 per equity share, with a face value of Rs 2 per share of the IPO.

This upcoming IPO has garnered attention from both retail and institutional investors due to Crizac's strong business model, international reach, and growing financial performance. However, Grey Market Premium(GMP) is 0 as of today.

Crizac IPO Details:

The Crizac IPO is a book-built issue worth Rs 860 crore with 100% Offer for Sale (OFS), where 3.51 crore shares will be sold by existing shareholders. The IPO has been priced in a band of Rs 233 to Rs 245 per equity share, with each share having a face value of Rs 2. Investors can bid in a lot size of 61 shares and in multiples thereafter.

Promoters Pinky Agarwal and Manish Agarwal will be selling shares worth Rs 723 crore and Rs 137 crore as part of the offer, according to the red herring prospectus (RHP) filed on Wednesday, June 25. Crizac Ltd will not receive any proceeds from the IPO; the funds will go directly to the selling shareholders.

Up to 50% of the shares are reserved for Qualified Institutional Buyers (QIBs), at least 15% are set aside for Non-Institutional Investors (NIIs), and at least 35% are meant for retail investors. This ensures that a wide range of investors have the chance to take part in the IPO.

Equirus Capital Private Limited and Anand Rathi Securities Limited are the main managers handling the Crizac IPO process. MUFG Intime India Private Limited (also known as Link Intime) is in charge of managing the IPO registration and related work.

Crizac IPO: Important Dates:

Anchor investors can place their bids on July 1, 2025. The IPO will open for public subscription on July 2 and close on July 4. The allotment of shares will be finalised on July 7, and refunds will be processed on July 8, along with the credit of shares to investors' demat accounts.

Crizac's shares are expected to be listed on the BSE and NSE on July 9, 2025. For anchor investors, 50% of their allotted shares will be locked in for 30 days, while the remaining 50% will be locked for 90 days after the allotment.

About Crizac Ltd:

Crizac ltd, founded in 2011, is a B2B education platform that helps international universities recruit students through a network of global agents. The company works with institutions in the UK, Canada, Ireland, Australia, and New Zealand.

The company works with 173+ international higher education institutions, including the University of Birmingham, Nottingham Trent University, Aston University, and Swansea University.

As of September 2024, Crizac had around 10,362 registered agents, with 3,948 active agents-over 2,200 based in India, and the rest across 39 other countries.The company also has a team of 329 employees and 10 consultants experienced in international education.

Financial Performance:

Crizac has shown strong financial growth in recent years. In FY24, the company reported a revenue of Rs 634.87 crore, which increased to Rs 849.49 crore in FY25 - a growth of 33.7%. Its net profit also rose from Rs 118.90 crore in FY24 to Rs 152.93 crore in FY25, marking a 28.6% increase.

Over the period from FY23 to FY25, the company's revenue grew at a compound annual growth rate (CAGR) of 34.02%, while profit after tax (PAT) grew at a CAGR of 16.78%. If the IPO is fully subscribed at the highest price band, Crizac's market valuation is expected to reach around Rs 4,287 crore.

Crizac IPO - Peers:

Its listed competitors include IndiaMart InterMesh Ltd, which has a price-to-earnings (P/E) ratio of 27.18, and IDP Education Ltd, with a P/E of 7.86. What makes Crizac different is its technology-driven platform, strong global presence, and especially its strong recruitment connections between India and the UK, which give it a competitive edge in the market.