Crizac Limited
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Crizac Limited's has transitioned to a publicly listed entity following its IPO debut on Jul 09, 2025 at the NSE, BSE exchange. The public offering successfully raised 3,51,02,041 Shares, consisting of TBDin new capital and ₹860.00 Cr in existing shareholder sales.
The IPO featured a competitive price range of ₹233 to ₹245 and minimum application size of 61 shares. Market reception was evidenced through subscription activity between Jul 02, 2025 and Jul 04, 2025, reflecting investor appetite for the offering.
Allotment of shares was completed on Jul 07, 2025, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Crizac Limited, established in 2011, is a business-to-business education platform that connects student recruitment agents with universities and colleges in countries like the UK, Canada, Ireland, Australia, and New Zealand. The company helps international students apply to these institutions through a network of agents who use its own online platform. Between April 2022 and September 2024, Crizac helped process over 5.95 lakh student applications for more than 135 global institutions. These applications came from students in over 75 countries, submitted through agents registered on its platform. By September 2024, the company had around 7,900 registered agents worldwide, with 2,532 of them actively sending student applications during the financial year 2024. Out of these, 1,524 were based in India, and the remaining 40% (around 1,008 agents) were spread across more than 25 countries, including the UK, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Ghana, Kenya, Vietnam, Canada, and Egypt. Crizac also has consultants in countries like Cameroon, China, Ghana, and Kenya. As of September 30, 2024, the team included 329 employees and 10 consultants, all with strong experience in the international education sector
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Widespread Global Operations: Handled 7+ lakh student applications (FY23–FY25) from 75+ countries; partnered with 173+ institutes across UK, Ireland, Canada, ANZ, and USA.
- Strong Ties with Institutions: 20+ of top 30 partners linked for over 5 years; also provides services like marketing and managing admission offices.
- Large & Active Agent Network: 10,362+ registered and 3,948 active agents in 39+ countries; supports broad student outreach worldwide.
- High Dependency on Key Clients: Relies on a few major global institutions; losing any could affect revenue and growth.
- Heavy Reliance on Agents: Business depends on agents; reduced performance or loss of key ones may impact student applications.
- Relationship-Based Business Model: Success relies on strong long-term ties with institutions; weakening these could hurt future opportunities.
- Dr. Vikash Agarwal
- Pinky Agarwal
- Manish Agarwal
Crizac Limited
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