Price band set at ₹233/- to ₹245/- per Equity Share
Mumbai : Crizac Limited has fixed the price band of ₹233/- to ₹245/- per Equity Share of face value ₹2/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Wednesday, July 2, 2025, for subscription and close on Friday, July 4, 2025. Investors can bid for a minimum of 61 Equity Shares and in multiples of 61 Equity Shares thereafter.
The IPO is entirely an offer for sale up to equity shares aggregating to Rs 723 crore and Rs 137 crore by Pinky Agarwal and Manish Agarwal respectively.
Crizac Ltd is a B2B education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education in United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ). During the last three fiscals, it has processed over 7.11 lakh student applications while working with over 173 global institutions of higher education primarily in United Kingdom, Republic of Ireland, Canada and USA. It has 2,237 Active Agents in India and around 1,711 Active Agents in over 39 countries overseas including United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada and Egypt.
Some of the global institutions of higher education that Crizac has worked with includes 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.
Crizac is based in India with co-primary operations in London, United Kingdom. In addition, it has consultants in multiple countries including Cameroon, China, Ghana, and Kenya. As on March 31, 2025, it had a team of 368 employees and 12 consultants.
Crizac’s revenue from operations increased 33.81% from Rs 634.87 crore in Fiscal 2024 to Rs 849.49 crore in Fiscal 2025, due to an increase in the revenue from its education consultancy services as a result of increase in commission from universities. Profit after tax increased by 28.62% from ₹ 118.90 crore in Fiscal 2024 to ₹ 152.93 crore in Fiscal 2025.
Equirus Capital Private Limited, and Anand Rathi Advisors Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders.
Issue Size of the IPO based on the upper and lower end of the price band
| Offer for Sale | |
| Lower Band (@ Rs 233) | Rs 860 crore |
| Upper Band (@ Rs 245) | Rs 860 crore |
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