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Crizac’s Rs 860 Crore IPO Opens July 2: Education-Tech Firm Eyes Strong Market Debut

Updated: June 27, 2025 15:15

Image Source : Global Prime News
Crizac Ltd, a Kolkata-based B2B education platform specializing in international student recruitment, is set to launch its highly anticipated initial public offering on July 2, 2025. With a price band fixed at Rs 233 to Rs 245 per equity share, the IPO is entirely an offer for sale by existing promoters and shareholders, aiming to raise Rs 860 crore. The issue will close on July 4, with anchor investor bidding opening a day earlier on July 1.
 
Key Highlights from the IPO Announcement
 
- The IPO is a pure offer for sale, with no fresh issue component  
- Promoters Pinky Agarwal and Manish Agarwal will offload shares worth Rs 723 crore and Rs 137 crore respectively  
- Investors can bid for a minimum of 61 equity shares and in multiples thereafter  
- The company will not receive any proceeds from the issue  
- Shares are expected to be listed on the BSE and NSE on July 9  
 
Company Profile and Business Model
 
Founded in 2011, Crizac operates as a B2B platform connecting global higher education institutions with student recruitment agents. It facilitates international student enrolments across the UK, Ireland, Canada, Australia, and New Zealand.
 
- Crizac processed over 7.11 lakh student applications in FY25 from more than 75 countries  
- The company has partnerships with over 173 global institutions of higher education  
- Its proprietary tech platform supports a network of 10,362 registered agents, with 3,948 actively engaged in FY25  
- Crizac’s core strength lies in student recruitment from India to the UK, supported by long-standing institutional ties  
 
Financial Performance Snapshot
 
- Revenue from operations in FY25 stood at Rs 849.49 crore, up from Rs 634.87 crore in FY24  
- Net profit rose to Rs 152.93 crore in FY25, compared to Rs 118.90 crore the previous year  
- At the upper end of the price band, Crizac’s market capitalization is estimated at Rs 4,287 crore  
 
IPO Structure and Timeline
 
- Anchor investor bidding: July 1, 2025  
- Public subscription window: July 2 to July 4, 2025  
- Basis of allotment: July 7  
- Refunds and demat credit: July 8  
- Listing date: July 9  
 
- Equirus Capital and Anand Rathi Advisors are the book-running lead managers  
- MUFG Intime India is the registrar to the issue  
 
Why This IPO Matters
 
Crizac’s IPO comes at a time when global student mobility is rebounding post-pandemic, and Indian outbound education demand is surging. The company’s tech-enabled, agent-driven model positions it uniquely in the international education value chain. While the IPO is a pure OFS, the listing is expected to enhance brand visibility and provide liquidity to early investors.
 
Sources: Economic Times, Moneycontrol, Rediff, MSN India, Goodreturns, IPO Watch, PTI

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