Crizac Limited IPO GMP, Date, Price Band & Review

The IPO of Crizac Limited will be open to the general public on July 2, 2025 and the closing date is July 4, 2025. A clean offer for sale (OFS) of 35.1 million equity shares is being made in order to raise about 860 crores. A minimum lot size of 61 shares will be required, and the issue price range will be between 233 and 245 per share. On July 9, 2025, it is anticipated that the IPO shares will be listed on the BSE and NSE. The IPO allotment is broken down into 50 percent for Qualified Institutional Buyers (QIBs), 35 percent for retail and 15% for non-institutional investors.

Company Background

Crizac Limited is an educational platform that provides global student recruitment services and it was incorporated in 2011. It links agents and foreign higher education institutions mostly in the UK, Canada, Ireland, Australia and New Zealand. The company has been performing well financially and has registered revenue of 884.78 crore and net profit of 152.93 crore in FY25.

Operations & Product Range

Facility & Production:
Over 7,900 agents are registered on Crizac's unique platform, and 2,532 of them are working in India and over 25 other countries, including Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada, and Egypt. The company has managed more than 595,000 student applications in partnership with more than 135 institutions around the world. It has a lean workforce of 329 employees and 10 international consultants with presence in countries such as Cameroon, China, Ghana and Kenya.

Brands & Market Presence:
The positioning of the Crizac brand is as a global student recruitment solution provider, specializing in higher education institutions in major English-speaking countries. Its network of agents and platform is the backbone of its market presence, facilitating international student mobility and recruitment.

Revenue Channels

Crizac earns its revenue mainly through commissions and fees paid by educational institutions in the provision of student recruitment services. The company is expanding its agent network and the volume of student applications processed, which is leading to growth. It has experienced a growth of 35.3% in revenue, as its revenue rose to 884.78 crore in FY25 as compared to 658.62 crore in FY24 and its PAT margin is quite high at 17.28%.

Management & Shareholding

Promoters & Shareholding:
Dr. Vikash Agarwal, Pinky Agarwal, and Manish Agarwal are the promoters of Crizac. Promoters held a 100 percent stake before the IPO. In order to reduce their holdings, Pinky Agarwal and Manish Agarwal are selling 723 crore and 137 crore shares, respectively, following the IPO.

Board Members:
Dr. Vikash Agarwal, Mr. Manish Agarwal and Mrs. Pinky Agarwal are members of the board of Crizac Limited. Mr. Rakesh Kumar Agrawal, Mr. Anuj Saraswat and Ms. Payal Bafna are the Independent Directors. They jointly manage the strategic and governance roles of the company.