What is Crizac?
Founded in 2011, Kolkata-based Crizac is a B2B education-tech platform. It bridges the gap between global universities—particularly in the UK, Canada, Ireland, Australia, and New Zealand—and a massive network of 10,000+ agents across 75+ countries . The company facilitates streamlined application processing through its proprietary tech platform.
.png "crizac ipo gmp today")
---
📚 Table of Contents
- 💰 What is Crizac?
- 🔄 Scale & Reach
- 📈 Financial Highlights
- 📊 Strengths & Challenges
- 🪙 IPO Update: What You Need to Know
- 📝 Final Thoughts: Company + IPO
- ✔️ Should You Consider It?
- ❓ Frequently Asked Questions (FAQs)
Scale & Reach
- Alliances with 173+ institutions, including University of Birmingham and Nottingham Trent University .
- Processed over 711,000 student applications in FY 25 and engaged 3,948 active agents across the globe .
- Offices in India and co-primary operations in the UK, supported by consultants in markets like Cameroon, China, Ghana, and Kenya .
---
Financial Highlights
- Revenue leapt from ₹274 cr (FY23) to ₹849 cr (FY25)—a CAGR of ~33–76% depending on the period considered .
- PAT grew from ₹110 cr to ₹153 cr; FY 25 EPS stands at ₹8.74, with net margin near **18%** .
- Debt-free with robust cash flows (OCF ~₹188 cr in FY 25) and RoE of ~30% .
---
Strengths & Challenges
Strengths
- Asset-light, scalable model with global reach and deep institutional ties.
- Technology-driven platform streamlines operations.
- Strong profitability with zero leverage.
Challenges
- Entirely promoter sell-out (OFS); no fresh capital for expansion .
- Business dependent on a few key markets and institutions.
- Sensitive to visa and regulatory policies in core countries.
---
🪙 IPO Update: What You Need to Know
Key Details
| Key Details | |
|---|---|
| Opening Window | July 2–4, 2025 |
| Price Band | ₹233–245 per share (face value ₹2); minimum lot of 61 shares (~₹14,973) |
| Offer Size | ₹860 cr via OFS—₹723 cr by Pinky Agarwal and ₹137 cr by Manish Agarwal |
| Listing | Expected on July 9 on both BSE & NSE |
| Allocation Split | 50% QIB, 15% NII, 35% retail |
Market Appetite & GMP
- Day 1 subscription (midday): overall 19%, with retail at 30% and NIIs at 19%; QIBs almost nil at that point .
- Grey market premium (GMP) hovers around ₹20–30 (~9–12%)—higher earlier estimates suggested over ₹29–30 (~12%) .
Anchor Buys & Institutional Interest
Anchor investors subscribed to 1.05 crore shares at ₹245 each (≈₹258 cr raised) .
---
📝 Final Thoughts: Company + IPO
- Strong business model – scalable, tech-enabled, global operations, and solid financials.
- IPO is fully OFS – no fresh funds for growth, meaning promoters are cashing out.
- Valuation – At ₹245, the P/E is ~28× FY 25 earnings—reasonable compared to peer IndiaMART .
- Listing outlook – GMP indicates potential pricing upside, but grey markets aren’t always reliable.
- Risks – Pure OFS, regulatory dependencies, concentration risk, and limited global diversification.
---
✔️ Should You Consider It?
If you’re bullish on global education trends and Crizac’s model, consider a selective allocation. A small-to-medium application could offer listing gains and long-term exposure—keeping in mind the OFS strategy and policy risks.
❓ Frequently Asked Questions (FAQs)
1. What does Crizac do?
Crizac is a global B2B education-tech platform that connects students (through local education agents) with international universities, helping streamline application processing and enrollment through its technology.
2. When is the Crizac IPO open for subscription?
The IPO is open from July 2 to July 4, 2025.
3. What is the price band for the Crizac IPO?
The price band is set at ₹233 to ₹245 per share, with a face value of ₹2.
4. What is the minimum investment amount?
Retail investors need to apply for a minimum of 1 lot (61 shares), which amounts to ₹14,973 at the upper price band.
5. Is this a fresh issue or Offer for Sale (OFS)?
This IPO is a 100% Offer for Sale (OFS)—no fresh equity is being issued. Promoters are offloading part of their stake.
6. When will the Crizac IPO shares be listed?
The shares are expected to be listed on July 9, 2025 on both NSE and BSE.
7. What is Crizac’s Grey Market Premium (GMP)?
The GMP was reported to be between ₹20–30, suggesting moderate listing gains, but GMP is unofficial and can fluctuate daily.
8. How were Crizac’s financials in recent years?
In FY 25, Crizac reported:
Revenue: ₹849 crore
Net Profit: ₹153 crore
EPS: ₹8.74
Debt-free with strong margins (~18%)
9. Is Crizac IPO good for listing gains?
While GMP is positive, investors should assess risks—like complete OFS, policy dependence, and concentration in certain regions—before applying.
10. Where can I apply for the IPO?
You can apply via your broker’s IPO platform (like Zerodha, Upstox, Groww, ICICI Direct, etc.) or through net banking ASBA (e.g., HDFC, SBI, Axis).
.png)
.png)
