Crizac IPO Description – Crizac is a B2B education platform specializing in international student recruitment solutions for global institutions of higher education, with a strong operational base in India and co-primary operations in London, UK. Since its inception in Fiscal 2011, Crizac has built a robust proprietary technology platform connecting over 10,362 registered agents across 75+ countries. In Fiscal 2025 alone, 3,948 agents were active, including 2,237 from India and 1,711 (43.33%) from countries such as the UK, Nigeria, Pakistan, and Vietnam.
The company’s strength lies in sourcing student applications from India into the United Kingdom, supported by long-standing relationships with 173+ global institutions, including the University of Birmingham, Coventry University, and Glasgow Caledonian University. From Fiscal 2023 to 2025, Crizac processed over 711,000 student applications. Its agent-centric recruitment model has enabled it to cater to rising global demand for international education.
With a team of 368 employees and 12 consultants spread across India, the UK, Cameroon, China, Ghana, and Kenya, Crizac offers bespoke recruitment strategies tailored to institutional goals. Between Fiscal 2015 and 2025, the company recorded a remarkable 100.18% CAGR in revenue from operations, reflecting its rapid and scalable business growth in the international education sector.
Promoters of Crizac – Dr. Vikash Agarwal, Pinky Agarwal, and Manish Agarwal
Table of Contents
Crizac IPO Details
| Crizac IPO Dates | 2 – 4 July 2025 |
| Crizac Issue Price | INR 233 – 245 per share |
| Fresh issue | Nil |
| Offer For Sale | INR 860 crore |
| Total IPO size | INR 860 crore |
| Minimum bid (lot size) | 61 shares (INR 14,945) |
| Face Value | INR 2 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Crizac Financial Performance
| FY 2023* | FY 2024 | FY 2025 | |
| Revenue | 274.10 | 530.05 | 849.49 |
| Expenses | 171.59 | 396.96 | 682.34 |
| Net income | 110.11 | 117.92 | 152.93 |
| Margin (%) | 40.17 | 22.25 | 18.00 |
* All Standalone Data
Crizac Offer News
Crizac Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue) | |
| EPS | 6.29 | 6.74 | 8.74 | 8.74 |
| PE Ratio | – | – | 26.66 – 28.03 | 26.66 – 28.03 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 50.06 | 34.74 | 30.38 |
| NAV | 12.57 | 19.40 | 28.76 |
| ROCE (%) | 67.74 | 54.92 | 40.03 |
| EBITDA (%) | 38.23 | 13.52 | 25.05 |
| Debt/Equity | 0.00 | 0.00 | 0.00 |
Crizac IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 8 July 2025 | 36 | – | 1,600 |
| 7 July 2025 | 40 | – | 1,900 |
| 5 July 2025 | 36 | – | 1,600 |
| 4 July 2025 | 30 | – | 1,200 |
| 3 July 2025 | 40 | – | 1,600 |
Crizac IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 73,81,973 | 55,36,481 | 1,29,18,455 | 2,58,36,909 |
| 4 Jul 2025 | 134.35 | 76.15 | 10.24 | 59.82 |
| 3 Jul 2025 | 0.15 | 6.28 | 2.72 | 2.75 |
| 2 Jul 2025 | 0.09 | 0.92 | 0.79 | 0.62 |
1,05,30,612 shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Crizac IPO Allotment Status
Crizac IPO allotment status is now available on MUFG Intime’s website. Click on the MUFG Intime IPO weblink to get allotment status.
Crizac – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Crizac | 28.03 | 8.74 | 30.38 | 28.76 | 849.49 |
| Indiamart Intermesh | 27.18 | 91.59 | 25.20 | 363.43 | 1,388.34 |
| IDP Education | 7.86 | 0.48 | 25.51 | 1.88 | 103.73 |
Crizac IPO Dates & Listing Performance
| IPO Opening Date | 2 July 2025 |
| IPO Closing Date | 4 July 2025 |
| Finalization of Basis of Allotment | 7 July 2025 |
| Initiation of refunds | 8 July 2025 |
| Transfer of shares to demat accounts | 8 July 2025 |
| Crizac IPO Listing Date | 9 July 2025 |
| Opening Price on NSE | INR 281.05 per share (up 14.71%) |
| Closing Price on NSE | INR 307.63 per share (up 25.56%) |
Crizac IPO Reviews – Subscribe or Avoid?
Angel One –
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Capital Market – Neutral
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Elite Wealth – May Apply
GCL Broking –
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GEPL Capital – Avoid
Hem Securities – Subscribe for listing gain
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz –
Indsec Securities –
Jainam Broking – Neutral
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SMC Global – 1.5/5
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Crizac Offer Lead Manager
EQUIRUS CAPITAL PRIVATE LIMITED
12th Floor, C Wing, Marathon Futurex,
N M Joshi Marg, Lower Parel,
Mumbai 400 013, Maharashtra
Phone: +91 22 4332 0734
Email: [email protected]
Website:www.equirus.com
Crizac Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com
Crizac Contact Details
CRIZAC LIMITED
Wing A, 3rd Floor, Constantia Building, 11,
Dr. U.N. Brahmachari Street, Shakespeare Sarani,
Kolkata, West Bengal, India – 700017
Phone: +91 33 3544 1515
Email: [email protected]
Website: www.crizac.com
Crizac IPO FAQs
How many shares in Crizac Issue are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Crizac Public Offer?
The best way to apply for Crizac’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Crizac IPO GMP today?
Crizac IPO GMP today is INR 36 per share.
What is Crizac kostak rate today?
Crizac kostak rate today is INR NA per application.
What is Crizac Subject to Sauda rate today?
Crizac Subject to Sauda rate today is INR 1,600 per application.