The Crizac IPO is scheduled to open for subscription on July 2, 2025, and will close on July 4, 2025. The basis of allotment is expected to be finalized on Monday, July 7, 2025, with refunds and credit of shares to Demat accounts to take place on July 8, 2025. The Crizac IPO is proposed to be listed on both the BSE and NSE, with a tentative listing date set for Wednesday, July 9, 2025.
Crizac IPO is a book-built issue with a total offer size of ₹860 crores, entirely comprising an Offer for Sale (OFS) of 3.51 crore shares. The price band is fixed between ₹233 to ₹245 per share. The IPO has a retail quota of 35%, Qualified Institutional Buyers (QIB) quota of 50%, and High Net-worth Individuals (HNI) quota of 15%.
Retail investors can apply for a minimum lot size of 61 shares, requiring an investment of ₹14,213 at the lower price band. However, to improve allotment chances in an oversubscription scenario, it is advisable to apply at the cutoff price, which amounts to ₹14,945. For small non-institutional investors (sNII), the minimum lot size is 14 lots (854 shares) worth ₹2,09,230, while for big non-institutional investors (bNII), it is 67 lots (4,087 shares) worth ₹10,01,315.
Crizac has demonstrated strong financial growth, with revenues rising to ₹884.78 crores in FY 2025 from ₹658.62 crores in FY 2024. The profit also increased to ₹152.93 crores in FY 2025, compared to ₹117.92 crores in the previous year. Given the consistent revenue and profit growth, Crizac IPO appears to be a strong candidate for long-term investment. Investors seeking stable financials and future potential may consider applying in this IPO.
Overview of Contents
About Crizac IPO
Crizac Limited, founded in 2011, is a fast-growing B2B education platform that helps international students connect with global institutions for higher education. The company operates mainly in countries like the UK, Canada, Ireland, Australia, and New Zealand.
As of September 2024, Crizac had around 7,900 registered agents worldwide, with 2,532 of them actively sending student applications—1,524 from India and 1,008 from over 25 countries such as the UK, Nigeria, Bangladesh, Nepal, Sri Lanka, and others. In FY24 alone, Crizac processed over 5.95 lakh student applications and partnered with more than 135 global institutions.
The company uses its own technology platform to manage these processes. With a team of 329 employees and 10 experienced consultants across countries like Cameroon, China, Ghana, and Kenya, Crizac is steadily expanding its reach in the international student recruitment space.
Crizac IPO Overview
| IPO Details | Information |
|---|---|
| Face Value | ₹2 per equity share |
| Price Band | ₹233 to ₹245 per share |
| Lot Size | 61 shares per lot |
| Minimum Investment (Retail) | ₹14,213 – ₹14,945 (approx) |
| Issue Size | Approx ₹860 crores |
| Total Shares Offered | 3,51,02,040 equity shares |
| Fresh Issue | Approx ₹860 crores |
| Offer Type | Offer for Sale (OFS) |
| Issue Type | Book Building IPO |
| Listing Exchanges | BSE and NSE |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
| Pre-Issue Shareholding | 17,49,82,500 shares |
| Post-Issue Shareholding | 17,49,82,500 shares |
Crizac IPO GMP
- To Updated Soon
Crizac IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Crizac IPO Dates
| Event | Date (Day) |
|---|---|
| IPO Open Date | July 2, 2025 (Wednesday) |
| IPO Close Date | July 4, 2025 (Friday) |
| Basis of Allotment | July 7, 2025 (Monday) |
| Refunds Initiation | July 8, 2025 (Tuesday) |
| Credit to Demat Account | July 8, 2025 (Tuesday) |
| IPO Listing Date | July 9, 2025 (Wednesday) |
Crizac IPO Lot Size
| pplication | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 61 | ₹14,945 |
| Retail Maximum | 13 | 793 | ₹1,94,285 |
| S-HNI Minimum | 14 | 854 | ₹2,09,230 |
| B-HNI Minimum | 67 | 4,087 | ₹10,01,315 |
Crizac IPO Promoter Holding
The promoters of Crizac Limited are Dr. Vikash Agarwal, Pinky Agarwal, and Manish Agarwal. Before the IPO, the promoter holding in the company is 100%. Since the IPO is a complete offer for sale, the promoter shareholding will reduce after the issue, but the exact post-issue holding is not disclosed yet.
Crizac IPO Review
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Crizac IPO Financial Performance
Crizac Limited has shown strong financial growth over the years. From FY 2024 to FY 2025, the company’s revenue grew by 16%, while profit after tax (PAT) rose by 29%, reflecting a healthy business performance. The company has maintained minimal debt and steadily improved its net worth, highlighting a solid financial foundation.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr) | 879.62 | 592.91 | 304.99 |
| Revenue (₹ Cr) | 884.78 | 763.44 | 517.85 |
| Profit After Tax (₹ Cr) | 152.93 | 118.90 | 112.14 |
| EBITDA (₹ Cr) | 212.82 | 72.64 | 107.29 |
| Net Worth (₹ Cr) | 505.71 | 341.81 | 221.37 |
| Total Borrowing (₹ Cr) | 0.08 | 0.08 | 0.08 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Indiamart Intermesh Ltd | 91.84 | 27.18 | 25.20 | 363.43 | 1388.34 Cr. |
| IDP Education Ltd (AUD) | 0.48 | 7.86 | 25.51 | 1.88 | 103.73 Cr. |
Crizac IPO Valuation – FY2025
| KPI | Value |
|---|---|
| ROE | 30.38% |
| ROCE | – |
| EBITDA Margin | 25.05% |
| PAT Margin | 17.28% |
| Debt to Equity Ratio | – |
| Earnings Per Share (EPS) | ₹8.74 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 30.24% |
| Net Asset Value (NAV) | ₹28.90 |
Crizac IPO Registrar
MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- Equirus Capital Private Limited
- Anand Rathi Securities Limited
Company Address
Crizac Limited
Wing A, 3 rd Floor, Constantia Building,
11, Dr. U.N. Brahmachari Street,
Shakespeare Sarani,
Kolkata, West Bengal, 700017
Phone: +91 33 3544 1515
Email: [email protected]
Website: http://www.crizac.com/
Crizac IPO FAQs
What is Crizac IPO?
Crizac IPO is a mainboard initial public offering (IPO) through which the company aims to raise approximately ₹860 crores via a complete Offer for Sale (OFS). The shares will be listed on BSE and NSE.
What are the Crizac IPO open and close dates?
The Crizac IPO opens on July 2, 2025 (Wednesday) and closes on July 4, 2025 (Friday).
What is the price band and lot size for Crizac IPO?
The price band is set at ₹233 to ₹245 per share, and the minimum lot size is 61 shares. Retail investors need to invest around ₹14,213 to ₹14,945 depending on the price.
Who are the promoters of Crizac Limited?
The promoters are Dr. Vikash Agarwal, Pinky Agarwal, and Manish Agarwal. Their pre-issue holding is 100%, which will reduce post-listing.
What is the business of Crizac Limited?
Crizac Limited is a B2B education platform founded in 2011. It offers international student recruitment solutions and has processed over 5.95 lakh applications from 75+ countries, working with 135+ global institutions.