Retail Portion and Non-Institutional Investors Portion were subscribed 10.24 times and 76.15 times respectively
MUMBAI, July 4 (The CONNECT)- The Initial Public Offering of B2B education platform Crizac Limited was subscribed 59.82 times on the final day of bidding.
The issue received bids of 1,54,56,72,839 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 10.24 times and 76.15 times respectively, whereas Qualified Institutional Buyer Portion was subscribed 134.35 times.
Equirus Capital Private Limited, and Anand Rathi Advisors Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
Company Information
Crizac Ltd is a B2B education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education in United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ). During the last three fiscals, it has processed over 7.11 lakh student applications while working with over 173 global institutions of higher education primarily in United Kingdom, Republic of Ireland, Canada and USA. It has 2,237 Active Agents in India and around 1,711 Active Agents in over 39 countries overseas including United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada and Egypt.
Some of the global institutions of higher education that Crizac has worked with includes University of Birmingham, University of Surrey, University of Sunderland, Nottingham Trent University, University of Greenwich, University of West London, University of Portsmouth, De Montfort University, Glasgow Caledonian University, Aston University, University of Dundee, Dundalk Institute of Technology, Coventry University and Swansea University.
Crizac is based in India with co-primary operations in London, United Kingdom. In addition, it has consultants in multiple countries including Cameroon, China, Ghana, and Kenya. As on March 31, 2025, it had a team of 368 employees and 12 consultants.
Crizac’s revenue from operations increased 33.81% from Rs 634.87 crore in Fiscal 2024 to Rs 849.49 crore in Fiscal 2025, due to an increase in the revenue from its education consultancy services as a result of increase in commission from universities. Profit after tax increased by 28.62% from ₹ 118.90 crore in Fiscal 2024 to ₹ 152.93 crore in Fiscal 2025.
