IPO

Crizac Limited IPO

Mainboard

Internet & Catalogue Retail

Listed On: Jul 9, 2025 at ₹ 281.05(NSE)

₹ 14945 /61 Shares

Check Allotment

02 Jul, 2025

Open Date

04 Jul, 2025

Close Date

07 Jul, 2025

Allotment Date

09 Jul, 2025

Listing Date
Price Summary

Last Closing

280.65 (14.55%)

52 Week High

387.95

52 Week Low

275.00

Last Update

9-Oct-2025 3:30 PM
Crizac Limited IPO Issue Details
  • Issue Price ₹233-245 per equity share
  • Face Value ₹2 Per Equity Share
  • Total Issue Size 3,51,02,040 shares(aggregating up to ₹860 crore)
  • Offer For Sale 3,51,02,040 shares(aggregating up to ₹860 crore)
  • Listing at BSE, NSE
  • List Price 281.05(NSE)
  • Listing Date 2025-07-09
  • Lead Manager Equirus Capital Private Limited
    Anand Rathi Securities Limited
  • Registrar MUFG Intime India Private Limited (Link Intime)
Market Lot Size

Investors can bid for a minimum of 61 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)161₹14,945
Retail(max)13793₹1,94,285
SHNI(min) 14854₹2,09,230
SHNI(max) 664,026₹9,86,370
BHNI(min) 674,087₹10,01,315
Crizac Limited IPO Reservation

Crizac Limited IPO offers total NA shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,NA (NA%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares OfferedNA (NA%)
QIB Shares OfferedNA (NA%)
NII (HNI) Shares OfferedNA (NA%)
bNII < ₹10LNA (NA%)
sNII < ₹10LNA (NA%)
Retail Shares OfferedNA (NA%)
Total Shares OfferedNA (NA%)
Crizac Limited IPO Documents
DRHP
RHP
ANCHOR
Crizac Limited IPO Details


Crizac Limited IPO is a book-built issue of ₹860 crores, The total issue size is ₹860 crores. The IPO of Crizac Limited is priced at ₹233-245 per equity share, which has a face value of ₹2 Per Equity Share each, IPO bidding starts from Jul 2, 2025 and ends on Jul 4, 2025. The allotment for Crizac Limited IPO will be finalized on Jul 7, 2025. Crizac Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jul 9, 2025. The company shall list its equity shares on the BSE, NSE. MUFG Intime India Private Limited (Link Intime) is the registrar of the issue.

Retail investors can bid for a minimum of 61 shares, extendable to 14,945. S-HNIs will be able to bid for 854 shares at ₹2,09,230, while B-HNIs can also apply for a bid of 4,087 shares at ₹10,01,315. The book-running lead manager for the IPO is/are Equirus Capital Private Limited, Anand Rathi Securities Limited.

The total issue ₹860 crore and having Offer for Sale (OFS) of 3,51,02,040 shares to mop up ₹860 crore.

The Crizac Limited IPO sets its price band at 233-245 for each share. A single application for Crizac Limited IPO must contain at least 61 shares. Sentiment investors need to invest a minimum of 61 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,945 In order to participate in the sNII, investors must purchase at least 14 lots of 854 shares for ₹2,09,230, while the bNII requires 67 lots of 4,087 shares for an investment of ₹10,01,315.

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Crizac Limited IPO Subscription Analysis And Details
Retail
10.24x
QIB
134.35x
NII
76.15x
bNII
88.40x
sNII
51.67x
Total
59.82x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved70,20,40752,65,306
35,10,204    17,55,102		1,22,85,7142,45,71,427
Day 1 02-07-25 05:00 PM
0.09 x0.62
0.56 x   0.73 x		0.60 x0.46 x
Day 2 03-07-25 05:00 PM
0.15 x6.28
6.00 x   6.85 x		2.72 x2.75 x
Day 3 04-07-25 05:00 PM
134.35 x76.15
88.40 x   51.67 x		10.24 x59.82 x
Total No of Applications
19,21,365
Subscription on the basis of Applications
Retail:8.68x BHNI:17.0x SHNI:50.0x
Crizac Limited Valuations
EPS Pre IPO ₹8.74/-
EPS Post IPO ₹8.74/-
P/E Pre IPO 28.03
P/E Post IPO 28.03
ROE 30.24%
ROCE 40.03%
RoNW 30.24%
PAT Margin 17.28%
Price to Book Value 8.48
Crizac Limited Company Financials
In Crs.
In Cr.
31-Mar-2531-Mar-2431-Mar-23
Assets879.62592.91304.99
Revenue884.78763.44517.85
Profit After Tax152.93118.90112.14
Net Worth505.71341.81221.37
Total Borrowing0.080.080.08
About Crizac Limited Company

Established in 2011, Crizac Limited is a B2B education platform for global institutions of higher learning and agents of higher education which provides international student recruitment services to global institutions of higher learning in the United Kingdom, Republic of Ireland, Canada, Australia and New Zealand (ANZ).

During the 6 months ended September 30, 2024 and Fiscals March 31, 2024, March 31, 2023 and March 31, 2022, the company received applications for admission to global institutions of higher learning from more than 75 countries through our agents worldwide who are listed on our company-owned technology platform.

The company processed more than 5.95 lakh student applications during collaboration with more than 135 global institutions of higher learning.

As of September, 2024, the company have approximately 7,900 agents across the world who are registered on the company's proprietary technology platform and as of Fiscal 2024, we have 2,532 active agents (i.e., agents from whom the Company has received applications during Fiscal 2024) (Active Agents) consisting of 1,524 Active Agents in India and approximately 40% Active Agents i.e., 1,008 Active Agents in more than 25 countries abroad including United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada and Egypt.

The firm has consultants in several nations, such as Cameroon, China, Ghana, and Kenya. As of September 30, 2024, the firm had 329 employees and 10 experienced consultants working in the global educational sector.

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Crizac Limited - Promoter(s)

Dr. Vikash Agarwal

Pinky Agarwal

Manish Agarwal

Pre Issue Share Holding : N/A%

Post Issue Share Holding : N/A%

Crizac Limited IPO - Issue Objectives
1

The company will not receive any proceeds of the Offer for Sale by the Selling Shareholders.

Crizac Limited IPO - Anchor Investors

Crizac IPO to debut on July 2: Institutional investors buy Rs 258 crore shares through anchor book.

Marquee institutions such as Allianz Global Investors, Pinebridge Global Fund, Societe Generale, and LC Pharos Multi Strategy Fund joined anchor book of the B2B education platform providing cross-border international student recruitment solutions to global higher education institutions in United Kingdom, Canada, Republic of Ireland, Australia and New Zealand.

ICICI Prudential Mutual Fund, Shamyak Investment, Bandhan Mutual Fund, 360 ONE Equity Opportunity Fund, Carnelian Bharat Amritkaal Fund, Kotak Mahindra Life Insurance Company, and Axis Max Life Insurance, among others also invested in the company through anchor book.

Crizac Limited IPO - Peers Comparison
P/B RatioP/E RatioRoNWRevenue(in Cr.)
Crizac LimitedN/A28.7630.38%849
Indiamart IntermeshN/A27.1825.20%1,388
IEL EducationN/A7.8625.20%103
Strength
Processed over 7.11 lakh student applications across 173 global institutions.
Operates with 10,362 registered agents, including 3,948 active agents globally.
Strong presence in the UK education space with long-term partnerships.
Weakness
Over 95% of revenue in Fiscal 2025 came from the UK market.
Loss of key institutions may affect business and financial stability.
Visa policy changes in major countries may disrupt student enrolments.
Geopolitical tensions may reduce student inflow to partnered countries.
Contact Details

Crizac Limited

Wing A, 3 rd Floor, Constantia Building, 11, Dr. U.N. Brahmachari Street, Shakespeare Sarani, Kolkata, West Bengal, 700017

+91 33 3544 1515

compliance@crizac.com

http://www.crizac.com/

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

crizac.ipo@linkintime.co.in

https://in.mpms.mufg.com/Initial_Offer/public-issues.html