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Know This About the Crizac IPO Before the Bell Rings.

While the global education market is anticipated to reach USD 7.4 trillion, the number of Indians studying abroad is estimated to be  25,00,000 by 2030. Backed by this growth prospect, Crizac Limited, a B2B international student recruitment provider, is set to launch its IPO.

The lead managers of the Crizac IPO are Anand Rathi Advisors Limited and Equirus Capital Private Limited. The registrar for the Crizac Limited IPO is MUFG Intime India Private Limited.

Check out its RHP for more details.

Note: For 50% of the shares, the anchor lock-in period expires 30 days following the actual allocation, and for the remaining part, it ends 90 days later.

Crizac IPO Review: Company Profile

Understanding the Crizac IPO details is incomplete without taking a keen look at the company profile, which might unveil operational highlights.


Particulars

Description

Business mode

B2B

Incorporation

3 January 2011

Clients

Higher education institutions in Canada, New Zealand, the United Kingdom, Australia, etc.

Service

Student recruitment portal

Target countries

Sourced applications from more than 75 countries

Student applications

7.11 lakh (FY25, FY24 and FY23)

Registered agents

10,362 (as of 31 March 2025)

Popular institutions

University of Surrey, Nottingham Trent University, University of Sunderland, University of Birmingham, etc.

Competitors

Indiamart Intermesh Ltd and IDP Education Ltd. 


Everything about the Crizac IPO subscription status

This section covers the highlights of the Crizac IPO issue date, size, price and much more. It would help further analysis of key financials and the Crizac Limited IPO GMP later in this blog.

  • Crizac IPO Date

The timeline of the Crizac Limited IPO is discussed here.


Particulars

Date

Opening for Subscription

2 July 2025

Last Date to Apply

4 July 2025

UPI Approval Cut-off

4 July 2025 (5 PM)

Allotment

7 July 2025

Commencement of refunds

8 July 2025

Crediting the shares

8 July 2025

Listing on the exchange

9 July 2025

Last Day for Mandate

19 July 2025


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  • Crizac IPO price and size

The issue size of the Crizac IPO is discussed here.

Particulars

Amount (₹ million)

Fresh issue

Not Applicable

Offer for sale

8,600.00

Total issue

8,600.00


  • Objectives of the offer

The objectives of the Crizac Limited IPO can aid in understanding the capital justification of the issue.


The funds from the IPO would be directed to the investors who are aiming to liquidate because it is an offer for sale. The company won’t get access to the funds for utilisation.


The table below provides a breakdown of the offer.


Shareholder

Type

Amount (₹ million)

Pinky Agarwal

Promoter selling shareholder

7,230.00

Manish Agarwal

Promoter selling shareholder

1,370.00


  • Other takeaways from the Crizac IPO

Some other key highlights of the Crizac IPO lot size and the Crizac IPO share price are as follows.


Particulars

Description

Face Value

₹2

Price Range

₹233 to ₹245

Lot Size

61 (₹14945)

Listed at

BSE and NSE


  • Categorisation of different investors

Along with the Crizac share price, investors must explore the particulars of different investor categories.


Particulars

QIB

NIB

RIB

Allotment

Maximum 50% of the offer

At least 15% of the offer

At least 35% of the offer

Minimum bid

Undisclosed

₹0.20 million

Undisclosed

Maximum bid

Should not exceed the offer size and applicable law

Should not exceed the offer size and applicable law

₹0.20 million

Key Financials

The table below shows the key fiscal measures that acted as a basis for the issue price.


Particulars

2025 (₹ million)

2024 (₹ million)

2023 (₹ million)

Revenue from operations 

8,494.91

5,300.52

2,740.98

Cost of service 

5,992.38

3,441.83

1,138.83

EBITDA 

2,128.22

716.59

1,047.80

PAT

1,529.33

1,179.21

1,101.09

EPS (Basic and Diluted ₹)

8.74

6.79

6.41


Ratios & Metrics


Particulars

2025

2024

2023

Revenue growth (%)

60.27

93.38

128.28

EBITDA Margin (%)

25.05

13.52

38.23

PAT Margin (%)

17.28

17.90

34.52

ROE (%)

30.38

34.74

50.06

Net working capital (in days)

(1.80)

26.07

(0.29)

Student Applications Processed

2,75,897

2,62,502

1,72,939

Active Agents

3,948

2,532 

1,819 

Institutions catered to in the period

173

124

111


Crizac IPO GMP

Let us explore the Crizac IPO GMP today, that is 2 July 2025. The IPO opened in the Grey Market Area at a premium of ₹21.

Strengths and Risks of Crizac Limited IPO

Discussed below are the advantages and disadvantages of Crizac Limited and its IPO.


Strengths


  • Key B2B player is a growing and historically strong abroad education segment.

  • A massive client base of popular institutes.

  • Wide agent base driving business.

  • Experienced promoters with domain expertise.


Risks


  • Heavily dependent on limited global institutions. The top 5 institutions contributed 60.28% of revenue in 2025,

  • Business model driven by agents. Moreover, out of 10,362 registered agents, 3,948 were active agents.

  • Geographical concentration in the UK. For instance, in 2025, 95.12% of the revenue was generated from the UK.

  • Geopolitical tensions and global trade unrest can hamper business.

Is the Crizac IPO worth the hype?

Optimum analysis of the Crizac IPO GMP price, financial statements, along with other IPO-related details, is necessary for decision-making. Though the abroad education drive has been consistently high in India, anti-immigration drives might pose a threat. However, recently, India has signed a free-trade agreement with the United Kingdom.


Is the Crizac IPO piquing your investor interest? Click here to apply!


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