Crizac IPO to open on July 2; check price band, issue size, lot size, latest GMP and more

Crizac has announced its initial public offering (IPO) with a price band set between Rs 233-245 per share. The subscription will open on July 2 and close on July 4, with anchor investors allowed to participate starting July 1. Crizac is aiming for a market capitalisation of approximately Rs 4,287 crore at the upper price band. This strategic move is expected to attract significant investor interest.

The IPO is structured as a pure offer for sale (OFS), amounting to Rs 860 crore. Existing promoters and shareholders, Pinky Agarwal and Manish Agarwal, are offloading shares worth Rs 723 crore and Rs 137 crore, respectively. This sale reflects their confidence in the company's future growth. There was not much active in the grey market for Crizac shares, suggests is zero grey market premium (GMP).

Equirus Capital and Anand Rathi Advisors are the lead managers for this issue. The allotment basis is scheduled for July 7, with refunds and equity credit set for July 8. Crizac's shares will be listed on the stock exchanges on July 9, marking a significant milestone in the company's journey.

Crizac operates as a B2B education platform, specialising in international student recruitment for higher educational institutions across several countries, including the UK and Canada. The company boasts a strong foothold in student recruitment from India to the UK, supported by partnerships with British institutions. This strategic positioning enhances its competitive edge.

In the fiscal year 2025, Crizac processed over 7.11 lakh student applications from more than 75 countries. The company reported a revenue increase to Rs 849.49 crore, up from Rs 634.87 crore the previous year, with net profits rising from Rs 118.90 crore to Rs 152.93 crore. These figures underscore the company's robust financial health.

Crizac's extensive network includes approximately 10,362 registered agents, with 3,948 actively engaged during FY25. This network spans several countries, contributing significantly to its operations and growth. The diverse agent network is pivotal to its global expansion strategy.