Crizac IPO: Check IPO Date, Live Subscription and Key Details
Crizac Ltd. is a leading B2B (business-to-business) education platform providing international student recruitment solutions to global institutions of higher education. The company connects agents with universities in key study-abroad destinations such as the United Kingdom (UK), Canada, the Republic of Ireland, Australia, and New Zealand. In Fiscal 2025, Crizac sourced applications for enrollment from over 75 countries and processed more than 7.11 lakh student applications in collaboration with over 173 global institutions.
Min Investment
₹14945
Price Range
₹233.00-245.00
Issue Size
₹860.00 Cr
IPO Type
Mainboard
Key Metrics
Check Live GMP
Face Value
₹2
EPS
8.74
P/E Ratio
28.03
RoNW
30.24%
ROE
30.24%
Timeline
IPO Opens
2 Jul
IPO Closes
4 Jul
Allotment
7 Jul
Listing
9 Jul
IPO Objectives
- The company will not receive any proceeds of the Offer for Sale by the Selling Shareholders. The primary objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges, which is expected to enhance the company's visibility and brand recognition. Listing will also provide liquidity to the existing shareholders and create a public market for the company's shares in India.
Strengths
- One of the leading providers of international recruitment solutions with significant experience in the education sector (established 2011).
- Strong network effect: The proprietary technology platform connects a large pool of 10,362 registered agents (with 3,948 active agents in FY25) with over 173 global institutions, creating a self-reinforcing value proposition.
- Strong relationship with a global network of institutions of higher education, including long-standing relationships with over 20 of its top 30 global institutional partners.
- Wide-ranging network of educational agents for sourcing students for recruitment from over 75 countries.
- Scalable proprietary technology platform that streamlines the entire application and admission process, including applications, document submission, and tracking.
Weaknesses
- Pure Offer for Sale (OFS) IPO: The company will not receive any proceeds from the IPO, as all funds will go to the selling shareholders. This means no fresh capital will be infused into the company for business growth.
- Revenue concentration: Heavy dependency on a limited number of global institutions (top 3 institutions contributed 53% of revenue in FY25) and geographical concentration (95% of revenue from UK in FY25) poses a significant risk to revenue stability.
- High reliance on agents: The business is highly dependent on its network of agents, and the loss of any key agents could adversely impact operations and financial performance.
- Regulatory and visa policy changes: The business is highly sensitive to changes in international student visa regulations and education policies in key destination countries (e.g., recent caps on international student enrollments in Canada and changes in UK policies), which can directly impact student mobility and, consequently, Crizac's revenue.
- Non-exclusive agreements with agents: Crizac works with agents on a non-exclusive basis, meaning agents can also collaborate directly with global institutions or Crizac's competitors, limiting the platform's lock-in effect for agents.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 879.62 | 592.91 | 304.99 |
| Revenue (₹ Cr.) | 884.78 | 763.44 | 517.85 |
| PAT (₹ Cr.) | 152.93 | 118.9 | 112.14 |
| Net Worth (₹ Cr.) | 505.71 | 341.81 | 221.37 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.09x | 0.16x | 141.27x |
| NII | 0.65x | 6.61x | 80.03x |
| S-HNI | 0.77x | 7.21x | 54.18x |
| B-HNI | 0.59x | 6.31x | 92.95x |
| RII | 0.63x | 2.86x | 10.60x |
| Total | 0.48x | 2.89x | 62.81x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 70,20,407 | 99,17,49,956 | 24,297.87 |
| NII | 52,65,306 | 42,13,61,587 | 10,323.36 |
| Small NII | 17,55,102 | 9,50,95,096 | 2,329.83 |
| Big NII | 35,10,204 | 32,62,66,491 | 7,993.53 |
| RII | 1,22,85,714 | 13,01,82,113 | 3,189.46 |
| Total | 2,45,71,427 | 1,54,32,93,656 | 37,810.69 |
Company Details
- Wing A, 3rd Floor, Constantia Building, 11, Dr. U.N. Brahmachari Street, Shakespeare Sarani, Kolkata, West Bengal-700017, India
- +91 33 3544 1515
- compliance@crizac.com
- http://www.crizac.com/
Registrar Details
- MUFG Intime India Private Limited (Link Intime)
- +91-22-4918 6270
- crizac.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html