Crizac IPO: The initial public offering (IPO) of Crizac Limited opened on 2 July 2025 and will remain open until 4 July 2025. So, the Indian primary market investors have just one day to apply for the public issue, which aims to generate net proceeds of ₹860 crore, entirely reserved for the offer for sale (OFS). The Kolkata-based education company has declared the Crizac IPO price band at ₹233 to ₹245 per equity share. Looking at the Crizac IPO subscription status, the book-building issue has received a decent response from investors. The company shares have also been trading at a premium in the grey market. According to market observers, shares of the company are trading at a premium of ₹39 in the grey market today.
Crizac IPO GMP today
As mentioned above, today, Crizac IPO GMP (Grey Market Premium) is ₹39, ₹18 higher than on Wednesday and Thursday, when it was ₹21. Market observers said the rise in Crizac’s IPO GMP is a good sign as the secondary market has remained subdued throughout the week. They noted that a strong investor response could be the reason for the rise today.
Crizac IPO subscription status
After the end of bidding on day 2, the public offer had been subscribed 2.75 times, the retail portion 2.72 times, the NII segment 6.28 times, and the QIB portion 0.15 times.
Crizac IPO review
Advising investors to apply for this initial offer of the B2B education company, Choice Broking says, “At a higher price band, the company is demanding a valuation of a P/E of 28.0x (based on FY25 EPS of Rs. 8.7) and EV/Sales of 4.8x, which seems to be reasonably valued. Its strong track record, profitability without external funding, and value-added services like university office management ensure long-term partner stickiness. With a large, diverse student pool and growing expansion into high-potential markets like the U.S., Crizac is well-positioned for sustainable growth. In a competitive space alongside players like IDP, ApplyBoard, and Leap Scholar, Crizac offers a differentiated, credible, and proven model. Therefore, we recommend a “SUBSCRIBE” rating for the issue.”
Nirmal Bang has also assigned a ‘subscribe’ tag to the public issue, saying, “Crizag is a well-established player in the student enrollment space, especially in the UK and Canada, backed by its proprietary technological platform. The company plans to foray into the US and other prominent markets with a wider range of services. Revenues/ EBIDTA of the Co have grown at a CAGR of 33%/41% during FY23-25. Co has a negative working capital and asset-light model and would benefit from the growing thrust for global higher education amongst the young population, amidst huge digitisation demand. IPO at higher price band seems fully priced at 28x its FY25 earnings; however, the Co’s niche international education focus and higher ROE provide cushion, and we recommend ‘Subscribe’ to the issue for long-term perspective.”
In addition, SMIFS, BP Equities (BP Wealth), Canara Bank Securities, Cholamangalam Securities, and SBI Capital Securities have assigned the public issue a ‘buy’ tag.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
