Crizac IPO listing: Shares of Crizac made a strong debut on the bourses on Wednesday, July 9, listing at ₹281.05 on NSE, a premium of 14.71 percent from its IPO price of ₹245. Meanwhile, on BSE, it listed at ₹280, up 14.29 percent from issue price.
The initial public offering (IPO), with a total issue size of ₹860 crore, was open for bidding from July 2 to July 4. The offering received a healthy overall response from investors, closing with a subscription of 62.89 times.
During the three-day subscription window, the IPO garnered bids for 1.54 crore shares against the 2.45 crore shares available. The retail investor category led the enthusiasm, subscribing 10.74 times their allotted quota. The non-institutional investor (NII) segment also showed strong participation, with a 80.07 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was fully booked as well, receiving bids 141.27 times the shares reserved.
About the IPO
The IPO is entirely an offer-for-sale (OFS) aimed at raising ₹860 crore by promoters Pinky Agarwal and Manish Agarwal. The total issue size stood at 3.51 crore shares. The minimum application size was 61 shares, implying a minimum investment of ₹14,213 lakh from retail investors.
Crizac will not receive any proceeds from the issue and entire proceeds shall go to the selling shareholders.
The IPO also raised ₹258 crore from anchor investors on Tuesday, July 1, 2025.
Equirus Capital Private Limited is the book-running lead manager of the IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar.
About the Company
Founded in 2011, Crizac Limited operates as a B2B education platform that facilitates international student recruitment for global institutions of higher education. The company primarily connects education agents with institutions across key destinations including the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ).
Crizac leverages a proprietary technology platform that enables registered agents worldwide to source student applications for global academic institutions. Over the years, the company has built a robust global presence, sourcing applications from students in more than 75 countries.
As per data for the six-month period ending September 30, 2024, and for the financial years ended March 31, 2024, 2023, and 2022, Crizac processed more than 5.95 lakh student applications. These applications were submitted to over 135 higher education institutions around the world, underscoring the scale and efficiency of its recruitment network.
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