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Mumbai | Crizac Limited has announced the opening of its Initial Public Offering (IPO) on Wednesday, July 2, 2025. The three-day offering will close on Friday, July 4, 2025. The company has set a price band of ₹233 to ₹245 per equity share of face value ₹2 each.

The IPO is an entirely Offer for Sale (OFS) of equity shares aggregating to ₹860 crore. This includes ₹723 crore worth of shares offered by Pinky Agarwal and ₹137 crore by Manish Agarwal. The minimum bid lot is 61 equity shares and in multiples thereof.

Crizac Limited is a B2B education platform catering to international student recruitment needs of global institutions of higher education across the UK, Canada, Ireland, Australia, and New Zealand. Over the past three fiscal years, the company has processed more than 7.11 lakh student applications and currently partners with over 173 global institutions.

The company’s extensive agent network comprises 2,237 active agents in India and approximately 1,711 agents across 39 countries, including the UK, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Ghana, Kenya, Vietnam, and Canada. Its clientele includes reputed institutions such as the University of Birmingham, Nottingham Trent University, University of Greenwich, Coventry University, and Swansea University.

Crizac is headquartered in India with co-primary operations in London and a presence in countries like Cameroon, China, Ghana, and Kenya. As of March 31, 2025, the company had 368 employees and 12 consultants.

Financially, Crizac posted a 33.81% jump in revenue from operations — from ₹634.87 crore in FY24 to ₹849.49 crore in FY25 — driven by a rise in education consultancy revenues and commissions. Its profit after tax rose 28.62% year-on-year to ₹152.93 crore in FY25.

The offer is being made through the book-building route. Not more than 50% of the net offer will be allocated to qualified institutional buyers (QIBs), a minimum of 15% to non-institutional investors (NIIs), and at least 35% to retail individual investors.

Equirus Capital Private Limited and Anand Rathi Advisors Limited are the book-running lead managers to the issue, while MUFG Intime India Private Limited is the registrar.

IPO Details at a Glance:

• IPO Opens: July 2, 2025

• IPO Closes: July 4, 2025

• Price Band: ₹233 – ₹245 per share

• Face Value: ₹2 per share

• Offer Size: ₹860 crore (entirely OFS)

• Lot Size: 61 shares and in multiples thereof

• Book-Running Lead Managers: Equirus Capital, Anand Rathi Advisors

• Registrar: MUFG Intime India Pvt. Ltd.