Company processed more than 5.95 lakh student applications and collaborated with over 135 global universities.
MUMBAI, Mar 11 (The CONNECT)- Kolkata-based student recruitment solution provider Crizac Limited has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), for its initial public offering (IPO).
Crizac Limited is a B2B education platforms 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).
The IPO, with a face value of Rs 2 per equity share, is entirely an offer for sale of up to Rs 1,000 crore by the promoter selling shareholders.
The offer for sale consists of the sale of equity shares of up to Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal. The offer includes a reservation for subscription by eligible employees.
The offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net offer shall be available for allocation to non-institutional investors, and not less than 35% of the net offer shall be available for allocation to retail individual investors.
Crizac Limited facilitated enrolment applications from over 75 countries through its registered agents on its technology platform.
It processed more than 5.95 lakh student applications and collaborated with over 135 global universities. As of September 30, 2024, the company had over 7,900 registered agents globally, including 2,532 active agents in Fiscal 2024, with a significant presence in India and various countries like the United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Kenya, Vietnam, Canada, and Egypt.
With a base in India. It also has co-primary operations in London, United Kingdom. In addition to extensive operations and employees in India, it has consultants in multiple countries including Cameroon, China, Ghana, and Kenya.
The company collaborates with prestigious institutions such as the 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.
Equirus Capital Private Limited and Anand Rathi Advisors Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar of the issue.
