Crizac IPO Opens Strong: Education Tech Firm Draws Investor Buzz with ₹860 Cr Offer

Crizac Limited, a Kolkata-based B2B education platform, launched its ₹860 crore IPO on July 2, 2025, and early indicators suggest robust investor interest. The IPO is a 100% Offer for Sale (OFS), with no fresh capital infusion, and will remain open until July 4, 2025. The price band is set at ₹233–₹245 per share, with a lot size of 61 shares.

 

On Day 1, the IPO saw a Grey Market Premium (GMP) of ₹21, signaling moderate listing expectations. The issue was subscribed 1.6x overall, with strong traction from Qualified Institutional Buyers (QIBs) and High Net-worth Individuals (HNIs). Retail participation was steady, with many investors applying at the cutoff price to improve allotment chances.

 

Key Highlights:

 

- IPO Size: ₹860 crore (entirely OFS)

- Price Band: ₹233–₹245 per share

- Lot Size: 61 shares (min investment ₹14,945)

- GMP: ₹21 on Day 1

- Allotment Date: Likely July 7, 2025

- Listing Date: Tentatively July 9, 2025

- Lead Managers: Equirus Capital, Anand Rathi Advisors

- Registrar: MUFG Intime India Pvt Ltd

 

Analysts are cautiously optimistic. While the IPO is fairly priced at 28x FY25 earnings, Crizac’s 30% RoNW, asset-light model, and 76% revenue CAGR over three years make it a compelling long-term play. However, the lack of fresh capital and regulatory risks in international student markets are noted concerns.

 

Verdict: Subscribe for long-term gains, especially for those bullish on the global education sector.

 

Source: LiveMint, Chittorgarh, MyInvestmentIdeas