Bookbuilding IPO | ₹860 Cr | Listed at BSE, NSE | Wed, Jul 2, 2025 - Fri, Jul 4, 2025
Crizac IPO is a book build issue of ₹860.00 crores. The issue is entirely an offer for sale of 3.51 crore shares of ₹860.00 crore.
Crizac IPO bidding started from Jul 2, 2025 and ended on Jul 4, 2025. The allotment for Crizac IPO was finalized on Jul 7, 2025. The shares got listed on BSE, NSE on Jul 9, 2025.
Crizac IPO price band is set at ₹245 per share. The lot size for an application is 61. The minimum amount of investment required by an retail is ₹14,945 (61 shares) (based on upper price). The lot size investment for sNII is 14 lots (854 shares), amounting to ₹2,09,230, and for bNII, it is 67 lots (4,087 shares), amounting to ₹10,01,315.
Equirus Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Crizac IPO RHP for detailed Information.
IPO Open
Wed, Jul 2, 2025
IPO Close
Fri, Jul 4, 2025
Issue Price
₹245 per share
Market Cap (Pre-IPO)
₹4,287.07 Cr
| IPO Date | 2 to 4 Jul, 2025 |
| Listed on | Wed, Jul 9, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹233 to ₹245 |
| Issue Price | ₹245 per share |
| Lot Size | 61 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,51,02,040 shares (agg. up to ₹860 Cr) |
| Offer for Sale | 3,51,02,040 shares of ₹2 (agg. up to ₹860 Cr) |
| Share Holding Pre Issue | 17,49,82,500 shares |
| Share Holding Post Issue | 17,49,82,500 shares |
| BSE Script Code / NSE Symbol | 544439 / CRIZAC |
| ISIN | INE0S4R01014 |
Crizac IPO offers total 3,51,02,040 shares. Out of which 1,75,51,020 (50.00%) allocated to QIB, 70,20,408 (20.00%) allocated to QIB (Ex- Anchor), 52,65,306 (15.00%) allocated to NII 1,22,85,714 (35.00%) allocated to RII and 1,05,30,612 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,75,51,020 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,05,30,612 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 70,20,408 (20.00%) | NA |
| NII (HNI) Shares Offered | 52,65,306 (15.00%) | NA |
| − bNII > ₹10L | 35,10,204 (10.00%) | 4,110 |
| − sNII < ₹10L | 17,55,102 (5.00%) | 2,055 |
| Retail Shares Offered | 1,22,85,714 (35.00%) | 2,01,405 |
| Total Shares Offered | 3,51,02,040 (100.00%) |
Investors can bid for a minimum of 61 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 61 | ₹14,945 |
| Retail (Max) | 13 | 793 | ₹1,94,285 |
| S-HNI (Min) | 14 | 854 | ₹2,09,230 |
| S-HNI (Max) | 66 | 4,026 | ₹9,86,370 |
| B-HNI (Min) | 67 | 4,087 | ₹10,01,315 |
Crizac IPO raises ₹258.00 crore from anchor investors. Crizac IPO Anchor bid date is July 1, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jul 1, 2025 |
| Shares Offered | 1,05,30,612 |
| Anchor Portion (₹ Cr.) | 258.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Aug 5, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Oct 4, 2025 |
Incorporated in 2011, Crizac Limited is a B2B education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, the Republic of Ireland, Australia and New Zealand (ANZ).
For the 6 months ended September 30, 2024 and Fiscals March 31, 2024, March 31, 2023 and March 31, 2022, the company sourced applications for enrollment into global institutions of higher education from over 75 countries through our agents globally who are registered on our proprietary technology platform.
The company processed over 5.95 lakh student applications while working with over 135 global institutions of higher education.
As of September, 2024, the company have around 7,900 agents globally who are registered on the proprietary technology platform and during Fiscal 2024, we had 2,532 active agents (i.e., agents from whom the Company has received applications during Fiscal 2024) (Active Agents) comprising 1,524 Active Agents in India and around 40% Active Agents i.e., 1,008 Active Agents in over 25 countries overseas including United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada and Egypt.
The company has consultants in multiple countries, including Cameroon, China, Ghana, and Kenya. As of September 30, 2024, the company had a team of 329 employees and 10 consultants with extensive experience in the international educational landscape.
Crizac Ltd.'s revenue increased by 16% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 879.62 | 592.91 | 304.99 |
| Total Income | 884.78 | 763.44 | 517.85 |
| Profit After Tax | 152.93 | 118.90 | 112.14 |
| EBITDA | 212.82 | 72.64 | 107.29 |
| NET Worth | 505.71 | 341.81 | 221.37 |
| Total Borrowing | 0.08 | 0.08 | 0.08 |
| Amount in ₹ Crore | |||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 30.24% |
| ROCE | 40.03% |
| RoNW | 30.24% |
| PAT Margin | 17.28% |
| EBITDA Margin | 25.05% |
| Price to Book Value | 8.48 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.74 | 8.74 |
| P/E (x) | 28.03 | 28.03 |
| Promoter Holding | 100% | 79.94% |
| Market Cap | ₹4,287.07 Cr. |
The Crizac IPO is subscribed 62.89 times on July 4, 2025 5:04:33 PM (Day 3). The public issue subscribed 10.74 times in the retail category, 141.27 times in the QIB category, and 80.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 141.27 | 70,20,407 | 99,17,49,956 |
| NII | 80.07 | 52,65,306 | 42,15,96,010 |
| bNII (bids above ₹10L) | 92.95 | 35,10,204 | 32,62,66,491 |
| sNII (bids below ₹10L) | 54.32 | 17,55,102 | 9,53,29,519 |
| Retail | 10.74 | 1,22,85,714 | 13,19,57,274 |
| Total | 62.89 | 2,45,71,427 | 1,54,53,03,240 |
Total Application : 19,21,366
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission, as applicable) | 20.30 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer and fee payable to the Sponsor Bank for Bids made by RIBs. | 1.76 |
| 3 | Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.55 |
| 4 | Fees payable to Registrar to the Offer | 0.10 |
| 5 | Advertising and marketing expenses | 3.21 |
| 6 | Fee payable to auditors, consultants and market research firms | 1.26 |
| 7 | Other Expenses: Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses; Printing and distribution of stationery; Fees payable to legal counsel; Fees payable to other intermediaries, such as, ICA, practising company secretary, third-party research agency, etc; and Miscellaneous | 11.37 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹245.00 | ₹245.00 |
| Open | ₹280.00 | ₹281.05 |
| Low | ₹275.00 | ₹275.00 |
| High | ₹307.95 | ₹309.15 |
| Last Trade | ₹307.45 | ₹307.63 |
Lead Manager Reports
Crizac IPO is a main-board IPO of 3,51,02,040 equity shares of the face value of ₹2 aggregating up to ₹860 Crores. The issue is priced at ₹245 per share. The minimum order quantity is 61.
The IPO opens on Wed, Jul 2, 2025, and closes on Fri, Jul 4, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Crizac IPO using UPI as a payment gateway. Zerodha customers can apply in Crizac IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Crizac IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Crizac IPO opens on Wed, Jul 2, 2025 and closes on Fri, Jul 4, 2025.
Crizac IPO lot size is 61, and the minimum amount required for application is ₹14,945.
You can apply in Crizac IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Crizac IPO will be done on Monday, July 7, 2025, and the allotted shares will be credited to your demat account by Tue, Jul 8, 2025. Check the Crizac IPO allotment status.
The Crizac IPO listing date is on Wed, Jul 9, 2025.
