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Mint
09-07-2025
- Business
- Mint
Crizac makes strong debut, lists at ₹281.05 on NSE, up 14.71% from IPO price
Crizac IPO listing: Shares of Crizac made a strong debut on the bourses on Wednesday, July 9, listing at ₹ 281.05 on NSE, a premium of 14.71 percent from its IPO price of ₹ 245. Meanwhile, on BSE, it listed at ₹ 280, up 14.29 percent from issue price. The initial public offering (IPO), with a total issue size of ₹ 860 crore, was open for bidding from July 2 to July 4. The offering received a healthy overall response from investors, closing with a subscription of 62.89 times. During the three-day subscription window, the IPO garnered bids for 1.54 crore shares against the 2.45 crore shares available. The retail investor category led the enthusiasm, subscribing 10.74 times their allotted quota. The non-institutional investor (NII) segment also showed strong participation, with a 80.07 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was fully booked as well, receiving bids 141.27 times the shares reserved. The IPO is entirely an offer-for-sale (OFS) aimed at raising ₹ 860 crore by promoters Pinky Agarwal and Manish Agarwal. The total issue size stood at 3.51 crore shares. The minimum application size was 61 shares, implying a minimum investment of ₹ 14,213 lakh from retail investors. Crizac will not receive any proceeds from the issue and entire proceeds shall go to the selling shareholders. The IPO also raised ₹ 258 crore from anchor investors on Tuesday, July 1, 2025. Equirus Capital Private Limited is the book-running lead manager of the IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar. Founded in 2011, Crizac Limited operates as a B2B education platform that facilitates international student recruitment for global institutions of higher education. The company primarily connects education agents with institutions across key destinations including the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ). Crizac leverages a proprietary technology platform that enables registered agents worldwide to source student applications for global academic institutions. Over the years, the company has built a robust global presence, sourcing applications from students in more than 75 countries. As per data for the six-month period ending September 30, 2024, and for the financial years ended March 31, 2024, 2023, and 2022, Crizac processed more than 5.95 lakh student applications. These applications were submitted to over 135 higher education institutions around the world, underscoring the scale and efficiency of its recruitment network.
Mint
09-07-2025
- Business
- Mint
Crizac makes strong debut, lists at ₹281.05 on NSE, up 14.71% from IPO price
Crizac IPO listing: Shares of Crizac made a strong debut on the bourses on Wednesday, July 9, listing at ₹ 281.05 on NSE, a premium of 14.71 percent from its IPO price of ₹ 245. Meanwhile, on BSE, it listed at ₹ 280, up 14.29 percent from issue price. The initial public offering (IPO), with a total issue size of ₹ 860 crore, was open for bidding from July 2 to July 4. The offering received a healthy overall response from investors, closing with a subscription of 62.89 times. During the three-day subscription window, the IPO garnered bids for 1.54 crore shares against the 2.45 crore shares available. The retail investor category led the enthusiasm, subscribing 10.74 times their allotted quota. The non-institutional investor (NII) segment also showed strong participation, with a 80.07 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was fully booked as well, receiving bids 141.27 times the shares reserved. The IPO is entirely an offer-for-sale (OFS) aimed at raising ₹ 860 crore by promoters Pinky Agarwal and Manish Agarwal. The total issue size stood at 3.51 crore shares. The minimum application size was 61 shares, implying a minimum investment of ₹ 14,213 lakh from retail investors. Crizac will not receive any proceeds from the issue and entire proceeds shall go to the selling shareholders. The IPO also raised ₹ 258 crore from anchor investors on Tuesday, July 1, 2025. Equirus Capital Private Limited is the book-running lead manager of the IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar. Founded in 2011, Crizac Limited operates as a B2B education platform that facilitates international student recruitment for global institutions of higher education. The company primarily connects education agents with institutions across key destinations including the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ). Crizac leverages a proprietary technology platform that enables registered agents worldwide to source student applications for global academic institutions. Over the years, the company has built a robust global presence, sourcing applications from students in more than 75 countries. As per data for the six-month period ending September 30, 2024, and for the financial years ended March 31, 2024, 2023, and 2022, Crizac processed more than 5.95 lakh student applications. These applications were submitted to over 135 higher education institutions around the world, underscoring the scale and efficiency of its recruitment network. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
04-07-2025
- Business
- Mint
Crizac IPO booked nearly 60x at end of Day 3. Check subscription status, GMP and other details
Crizac IPO subscription: The initial public offering (IPO) of Crizac Limited, which closed for subscription today, July 4, saw a stellar response, amid high demand from qualified institutional buyers and positive views from top brokerages. The strong grey market premium (GMP) also drove investor interest in the Crizac IPO. At the end of the three-day bidding process, Crizac IPO garnered 1,54,56,79,366 bids against 2,58,36,909 shares on offer, resulting in an oversubscription of 59.82 times. The retail portion was booked 10.24 times while the non-institutional investor (NII) quota was subscribed 76.15 times. The qualified institutional buyers (QIB) segment received 134.35 times bids. Crizac IPO GMP was at ₹ 42 today, the highest over the last few days. At the current GMP and its issue price of ₹ 245, Crizac IPO shares could see a strong listing pop of 17.14%. The shares of Crizac IPO are slated to list on the mainboard indices — BSE and NSE — on July 9. Crizac IPO bidding opened for bidding on July 2 and concluded today. Now, the investor focus will shift to the Crizac IPO allotment, which is expected to be finalised on Monday, July 7. Crizac IPO, worth ₹ 860 crore, is entirely an offer for sale (OFS) of 3.51 crore shares. This means the company will not receive any proceeds from the sale of shares. Crizac IPO was priced in the ₹ 233 to ₹ 245 apiece, with a minimum lot size of 61 shares. Equirus Capital Private Limited is the book-running lead manager of the Crizac IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. Analysts largely recommended subscribing to Crizac IPO. The company is a B2B education platform that facilitates international student recruitment for higher education institutions worldwide. At the upper band of Crizac's IPO price - a P/E of 28x on FY25 earnings - appears reasonable, considering its growth momentum, operational scalability, and leadership in UK-bound student recruitment, said BP Wealth. Given its differentiated B2B positioning and strong financial profile, it recommended a 'Subscribe' rating for this issue. Choice Broking, Canara Bank Securities, Nirmal Bang and SBICAP Securities have also suggested applying for the IPO. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
