Crizac IPO Hits D-Street on July 2: Full Details Of This Rs. 860 Cr Issue, Price Band, Key Dates & Expert View

Another mainline issue in the ongoing IPO season will hit the market this week. Crizac Ltd. is all prepared to open for public subscription on 2nd July and will close on July 4th. The Crizac IPO is an offer for sale worth Rs 860 crore, involving 3.51 crore equity shares. The company will not receive any fresh proceeds, as the issue is fully OFS.

Crizac IPO Price Band & Lot Size Details

The price band for the Crizac IPO has been fixed at Rs. 233 to Rs. 245 per share. Retail investors need to apply for a minimum of 61 shares, which amounts to Rs.14,213 at the lower band.

Crizac IPO Listing & Allotment Timeline

Once the bidding closes, the Crizac IPO allotment date is expected to be next Monday, July 7. The shares will be listed on both BSE and NSE on 9th July.

Crizac IPO Review: Should You Invest?

Brokerage house SBI Capital has given a "Subscribe" rating for the Crizac IPO. The brokerage firm stated, "The company has a strong presence in international higher education consultancy. Over the years, the company has diversified its sourcing by foraying into different geographies. At the upper price band of Rs 245, the issue is valued at a P/E multiple of 28x of its FY25 earnings on post-issue capital. While comparing the issue with its close peer, the IPO is fairly priced. We recommend investors to SUBSCRIBE to the issue at a cut-off price."

Financial Report

Crizac Ltd has shown strong financial growth in recent years. According to SBI Capital, the company posted a 76% CAGR in revenue, a 43% CAGR in EBITDA, and an 18% CAGR in profit after tax (PAT) over the past two years. For the Jan-March quarter in FY2025, the company reported Rs. 849 crore in revenue, Rs. 213 crore in EBITDA, and Rs. 153 crore in net profit.

Crizac Limited Business Details

Crizac Limited was incorporated in 2011, and it operates a B2B education technology platform connecting student recruitment agents and global universities. The company helps institutions from countries like the UK, Canada, Ireland, Australia, and New Zealand in recruiting international students. Crizac has processed over 5.95 lakh student applications for more than 135 global higher education institutions. With clients and partners in over 75 countries, the company relies heavily on its proprietary tech platform to manage the entire process.