Leading brokerage firms recommend ‘subscribe’, highlight the company’s strong presence in student enrolments, particularly in the UK and Canada
MUMBAI, July 2 (The CONNECT)- The Initial Public Offering of B2B education firm Crizac Limited was subscribed 46% on the first day of bidding.
The issue received bids of 1,17,61,654 shares against the offered 2,58,36,909 equity shares, at a price band of ₹233-245, according to the data available on the stock exchanges.
Retail Portion and Non-Institutional Investors Portion were subscribed 0.6 times and 0.62 times respectively, whereas Qualified Institutional Buyer Portion subscribed 0.09 times. The issue will close on Thursday, July 4, 2025.
Crizac Ltd raised Rs 258 crores from anchor investors yesterday. Some of the marquee Institutions that participated in the anchor includes Shamyak Investment Private Limited (Enam Group led by Akash Bhansali), Aryabhata India Fund (Abaccus Group led by Sunil Singhania), Societe Generale, Pinebridge Global Funds, ICICI Prudential MF, Allianz Global Investors Fund, Carnelian Bharat Amritkaal Fund, 360 One Equity Opportunity Fund, Motilal Oswal MF, Bandhan MF, Axis Max Life Insurance and Kotak Mahindra Life Insurance.
Leading brokerage firms like Nirmal Bang, SBI Securities, SMIFS, Chola Securities, Arihant Capital, Choice Securities, Ventura Securities, Canara Bank Securities, BP Wealth, Geojit Securities, Marwadi Financial Services have given a “Subscribe” rating to the issue highlighting the company’s strong presence in student enrolments, particularly in the UK and Canada. Backed by its proprietary technology platform and strong relationships with renowned global institutions, the company has successfully diversified across geographies. It now plans to foray into the US market and expand into B2C ancillary services, which is expected to drive future growth and improve margins. The company follows an asset-light, negative working capital model and is well-positioned to benefit from the growing global demand for higher education among digitally native youth.
