Crizac IPO Opens for Bidding at ₹860 Crore — Check GMP, Price Band, and Key Details Here

Crizac IPO Opens for Bidding at ₹860 Crore – GMP, Price Band, and Key Details You Need to Know

Crizac IPO: Public Issue Worth ₹860 Crore Now Open

The much-awaited Crizac IPO has officially opened for public subscription on July 2, 2025. This ₹860 crore issue is entirely an Offer-for-Sale (OFS), with promoters offloading 3.51 crore equity shares. The Crizac IPO price band has been fixed between ₹233 and ₹245 per equity share, and the bidding will remain open until July 4, 2025.

Crizac, a Kolkata-based B2B international education platform, connects global universities with student recruitment agents across over 75 countries. With robust financial growth and a scalable model, investor interest in the Crizac IPO is quickly gaining momentum.

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Crizac IPO Grey Market Premium (GMP) and Market Sentiment

As of today, the Crizac IPO GMP stands at ₹21, suggesting a positive outlook from grey market investors. While GMP is unofficial and speculative, it often reflects early demand trends. Given the current premium, market participants expect a decent listing pop if momentum continues.

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Crizac IPO Subscription Status on Day 1

On the first day of bidding, the Crizac IPO saw a modest response. By 12:03 PM:

• Overall Subscription: 0.12 times
• Retail Segment: 0.21 times
• Non-Institutional Investors (NII): 0.09 times

While these numbers are moderate, analysts expect an increase in bidding activity as the deadline approaches.

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Crizac IPO Company Profile and Business Model

Crizac is an asset-light, tech-driven B2B education platform helping universities recruit international students. The company primarily partners with institutions in the UK, Canada, Australia, Ireland, and New Zealand, but it is now working towards reducing reliance on any single country — especially the UK.

Crizac’s unique business model focuses on scalability, efficient tech platforms, and a global partner network, making it a strong candidate for investors interested in digital-first education businesses.

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Crizac IPO Details at a Glance

Here’s a quick overview of the Crizac IPO structure and key facts:

• IPO Size: ₹860 crore (OFS)
• Price Band: ₹233–₹245 per equity share
• Lot Size: 61 shares per lot
• IPO Open Date: July 2, 2025
• IPO Close Date: July 4, 2025
• Allotment Date: Tentatively July 5 or July 7, 2025
• Listing Date: Expected on July 9, 2025
• Registrar: MUFG Intime India Pvt. Ltd.
• Lead Managers: Equirus Capital & Anand Rathi Advisors

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Crizac IPO Financials: Strong Growth Across Metrics

Crizac has delivered a strong financial performance over the last three years:

• Revenue CAGR (FY23–FY25): 76%
• FY23 Revenue: ₹274 crore
• FY25 Revenue: ₹849 crore
• EBITDA CAGR: 43%
• FY25 EBITDA: ₹212 crore
• FY25 Net Profit: ₹137 crore (flat YoY)

The company’s Return on Net Worth (RoNW) stands at a healthy 30.38%, reflecting efficient capital usage. Such financial metrics enhance confidence in the Crizac IPO, especially for long-term investors.

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Crizac IPO Valuation: Fairly Priced or Expensive?

According to Gaurav Goel, Founder & Director at Fynocrat Technologies, the Crizac IPO is valued at a P/E of ~28x based on FY25 earnings and a Price-to-Book (P/BV) ratio of 8.52x. The company’s net asset value stands at ₹28.76 per share.

These figures indicate the IPO is moderately priced — neither aggressively undervalued nor overly expensive. While Crizac’s high RoNW and scalable model justify its valuation, the lack of fresh capital infusion and revenue concentration are noted as key limitations.

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Crizac IPO: Analyst Recommendations and Risks

Gaurav Goel’s View:

“Crizac is priced reasonably and has a solid business model, but limited near-term upside due to lack of fresh capital infusion. Still, it’s a promising long-term opportunity.”

Canara Bank Securities:

The firm has labeled the Crizac IPO as a ‘Subscribe for Long-Term’ opportunity. Their analysis highlights:

• Strong growth trajectory
• Extensive global university and agent network
• Financial metrics in line with listed peers
• Possible regulatory risks, especially in countries like Canada

The report underlines regulatory changes (like capped enrolments) as a potential risk to growth, a concern investors should factor into their decision.

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Crizac IPO: Should You Apply?

The Crizac IPO offers a rare play on the booming international education market. As Indian students continue to pursue global education, platforms like Crizac are well-positioned to benefit. The company’s tech-led approach, expanding global footprint, and solid financials make it a compelling option for growth investors.

However, investors should weigh the risks, including:

• Overdependence on certain geographies (especially the UK)
• Exposure to changing visa and immigration policies
• No fresh capital raised through the IPO
• Valuations already factoring in high growth expectations

Despite these, the overall consensus leans toward “Subscribe for long-term gains” if one can tolerate medium-term volatility.

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Crizac Listing and Allotment Dates

• Allotment Finalization: Likely on July 5, but could move to July 7 if delayed
• Listing Date: Tentatively set for July 9, 2025, on both NSE and BSE
• Refunds & Credits: Refunds expected around July 8, with demat credits on the same day

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Final Thoughts on the Crizac

The Crizac IPO presents an attractive opportunity for investors seeking exposure to the international education ecosystem. While not without its challenges, the company’s consistent performance, scalable operations, and moderate valuations make it a potential multibagger in the long run.

If you’re a long-term investor comfortable with moderate risk, the Crizac could be a worthwhile addition to your portfolio.

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