Crizac IPO Key Details: A Complete Investor Guide

The Crizac IPO is one of the most awaited public offers of 2025. Scheduled to open on July 2, 2025, this ₹860 crore IPO has generated significant attention among retail and institutional investors alike. Crizac, a fast-growing B2B EdTech company, is poised to make a splash in the capital market with its strong financials and global footprint.

If you’re planning to invest, here’s a detailed look at the Crizac IPO key details, including issue size, grey market premium (GMP), financial performance, risks, strengths, and more. Let’s dive into the top 10 things every investor should know.

1. Crizac IPO Schedule and Important Dates

The IPO will remain open for subscription from July 2 to July 4, 2025. Here’s the complete timeline:

• IPO Open Date: July 2, 2025
• IPO Close Date: July 4, 2025
• Allotment Finalization: July 7, 2025
• Demat Credit: July 8, 2025
• Listing Date: July 9, 2025
• Stock Exchanges: NSE and BSE

2. Issue Size and Offer Structure

Crizac IPO is a pure Offer for Sale (OFS), amounting to ₹860 crore, with no fresh issue component. This means the proceeds will go entirely to existing shareholders selling their stakes.

• Pinky Agarwal will offload shares worth ₹723 crore
• Manish Agarwal will sell shares worth ₹137 crore
• Crizac itself will not receive any capital infusion from this IPO

3. Price Band, Face Value, and Lot Size

• Price Band: ₹233 to ₹245 per share
• Face Value: ₹2 per equity share
• Lot Size: 61 shares per lot
• Minimum Investment: ₹14,945 (at upper band)

Retail investors can apply for one or more lots based on availability and category quota.

4. Crizac’s Business Model Explained

Crizac operates in the cross-border B2B student recruitment space, connecting education agents with foreign institutions. Their tech-driven platform allows education consultants to place students in top universities across:

• United Kingdom (UK)
• Australia
• Canada
• Ireland
• New Zealand

In FY25, Crizac processed over 7 lakh applications and partnered with 173+ universities globally. The platform is asset-light, scalable, and digitally enabled—making it well-suited for long-term growth.

5. Crizac IPO GMP (Grey Market Premium)

As of July 1, Crizac IPO GMP is ₹0, indicating a neutral sentiment in the unofficial grey market.

While GMP isn’t a guaranteed predictor, it provides insight into short-term interest. A flat GMP could change post subscription response and anchor book performance.

6. Financial Performance Snapshot

Crizac has demonstrated solid growth in the last two financial years:

This consistent performance highlights Crizac’s operational efficiency and high-margin business model.

7. Valuation and Peer Comparison

At the upper price band of ₹245, Crizac’s market capitalization is approx. ₹4,287 crore.

Key Peers:

• IndiaMART InterMESH: India’s top B2B marketplace
• IDP Education: A major global player in student recruitment

Compared to its peers, Crizac’s revenue and profitability growth are competitive, especially given its niche and international exposure.

8. Investor Reservation Quota

Crizac IPO follows the standard reservation pattern:

• QIB (Qualified Institutional Buyers): Up to 50%
• NII (High Net-Worth Investors): Minimum 15%
• Retail Investors: Minimum 35%

This allocation offers ample room for retail participation, especially for those applying within the ₹15,000 bracket.

9. Strengths and Risks to Consider

Key Strengths:

• Strong revenue and profit growth YoY
• Scalable, tech-first business model
• Global presence across 5+ countries
• High-margin and asset-light operations

Key Risks:

• Heavily dependent on student visa policies and geopolitical stability
• IPO is a 100% OFS, so Crizac will not receive any capital to reinvest in business growth
• Competitive threats from existing players in EdTech and education consultancy

Investors should weigh these aspects carefully while deciding their bid strategy.

10. Lead Managers and Registrar Details

• Lead Book Running Managers (BRLMs):
  • Equirus Capital
  • Anand Rathi Advisors
• Registrar to the Issue:
  • Link Intime India Pvt Ltd

These institutions will manage the IPO process including allotment, refunds, and listing compliance

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