Crizac's IPO opens on July 2; price band fixed at Rs 233-245

Economic Times

15 hours ago

Crizac Ltd's maiden IPO opens on July 2 and closes on July 4, 2025, with a price band of Rs 233–245 per share of face value Rs 2. The fully offer-for-sale issue totals Rs 723 crore, including Rs 137 crore from Pinky Agarwal and Manish Agarwal. Investors can bid for at least 61 shares and in multiples thereafter.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Crizac's initial public offering (IPO) will open for subscription on Wednesday, July 2, 2025, and close on Friday, July 4, 2025. Investors can bid for a minimum of 61 equity shares and in multiples of 61 shares thereafter. The company has fixed a price band of Rs 233 to Rs 245 per equity share, each with a face value of Rs 2, for its maiden public issue.The IPO is entirely an offer for sale, comprising equity shares aggregating to Rs 723 crore, including shares worth Rs 137 crore being sold by Pinky Agarwal and Manish Agarwal, respectively.Also Read | JioBlackRock Broking receives SEBI approval to commence brokerage business Equirus Capital Private Limited and Anand Rathi Advisors Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar to the issue.The offer is being made through the book-building process, wherein not more than 50% of the net offer shall be allocated on a proportionate basis to qualified institutional buyers, not less than 15% shall be allocated to non-institutional investors, and not less than 35% shall be allocated to retail individual bidders.Crizac Ltd is a B2B education platform serving agents and global institutions of higher education, offering international student recruitment solutions to institutions in the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ).Over the past three fiscal years, the company has processed more than 7.11 lakh student applications while collaborating with over 173 global institutions of higher education, primarily in the United Kingdom, the Republic of Ireland, Canada, and the USA. It has 2,237 active agents in India and approximately 1,711 active agents across more than 39 countries overseas, including the United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada, and Egypt.Also Read | Wakefit Innovations files DRHP with SEBI, plans to raise Rs 468 crore via fresh issue Some of the global institutions of higher education that Crizac has worked with include the University of Birmingham, University of Surrey, University of Sunderland, Nottingham Trent University, University of Greenwich, University of West London, University of Portsmouth, De Montfort University, Glasgow Caledonian University, Aston University, University of Dundee, Dundalk Institute of Technology, Coventry University, and Swansea University.The company is based in India, with co-primary operations in London, United Kingdom. Additionally, it has consultants in several countries, including Cameroon, China, Ghana, and Kenya. As of March 31, 2025, it had a team of 368 employees and 12 consultants.Crizac's revenue from operations rose 33.81%, from Rs 634.87 crore in Fiscal 2024 to Rs 849.49 crore in Fiscal 2025, driven by higher revenue from its education consultancy services due to increased commissions from universities. Profit after tax grew by 28.62%, rising from Rs 118.90 crore in Fiscal 2024 to Rs 152.93 crore in Fiscal 2025.