Crizac Limited came to market through an IPO that opened on 2 July 2025 and closed on 4 July 2025, and the shares listed on 9 July 2025 on BSE, NSE. The price band was ₹233 to ₹245 per share and one lot was 61 shares, so the minimum application was ₹14,945. The issue size was ₹860 crore. The whole issue was an offer for sale, so the proceeds went to the selling shareholders rather than the company.
MUFG Intime India Private Limited (Link Intime) was the registrar to the issue, and Equirus Capital Private Limited, Anand Rathi Securities Limited were the lead managers.
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Established in 2011, Crizac Limited is a B2B education platform for global institutions of higher learning and agents of higher education which provides international student recruitment services to global institutions of higher learning in the United Kingdom, Republic of Ireland, Canada, Australia and New Zealand (ANZ).
During the 6 months ended September 30, 2024 and Fiscals March 31, 2024, March 31, 2023 and March 31, 2022, the company received applications for admission to global institutions of higher learning from more than 75 countries through our agents worldwide who are listed on our company-owned technology platform. The company processed more than 5.95 lakh student applications during collaboration with more than 135 global institutions of higher learning.
As of September, 2024, the company have approximately 7,900 agents across the world who are registered on the company's proprietary technology platform and as of Fiscal 2024, we have 2,532 active agents (i.e., agents from whom the Company has received applications during Fiscal 2024) (Active Agents) consisting of 1,524 Active Agents in India and approximately 40% Active Agents i.e., 1,008 Active Agents in more than 25 countries abroad including United Kingdom, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Cameroon, Ghana, Kenya, Vietnam, Canada and Egypt.
The firm has consultants in several nations, such as Cameroon, China, Ghana, and Kenya. As of September 30, 2024, the firm had 329 employees and 10 experienced consultants working in the global educational sector.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Crizac IPO to debut on July 2: Institutional investors buy Rs 258 crore shares through anchor book. Marquee institutions such as Allianz Global Investors, Pinebridge Global Fund, Societe Generale, and LC Pharos Multi Strategy Fund joined anchor book of the B2B education platform providing cross-border international student recruitment solutions to global higher education institutions in United Kingdom, Canada, Republic of Ireland, Australia and New Zealand.
ICICI Prudential Mutual Fund, Shamyak Investment, Bandhan Mutual Fund, 360 ONE Equity Opportunity Fund, Carnelian Bharat Amritkaal Fund, Kotak Mahindra Life Insurance Company, and Axis Max Life Insurance, among others also invested in the company through anchor book.
Dr. Vikash Agarwal, Pinky Agarwal, Manish Agarwal.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Crizac IPO was a ₹860 crore book-built issue, made up entirely of an offer for sale. It was priced at ₹233–₹245 per share with a lot size of 61 shares (₹14,945). The IPO was open from July 2 to July 4, 2025. Shares listed on BSE and NSE on July 9, 2025 at ₹281.05, a 14.7% premium to the issue price of ₹245. MUFG Intime India Private Limited (Link Intime) is the registrar.
Equirus Capital Private Limited and Anand Rathi Securities Limited are the book running lead managers.
The price band of Crizac IPO is ₹233 to ₹245 per share.
The lot size of Crizac IPO is 61 shares.
The minimum investment for Crizac IPO is approximately ₹14,945 based on the upper price band.
The allotment date of Crizac IPO is Jul 7, 2025.
Crizac IPO's final recorded GMP before listing was ₹37 per share (a 15% premium over the ₹245 upper price band). The shares listed at ₹281.05. GMP is unofficial and does not forecast or guarantee the actual listing price.
Crizac IPO listed on Jul 9, 2025. It was issued at ₹281.05(NSE) and is currently around ₹144.00 as on 3-Nov-2026 3:30 PM, which is approximately -41.2% versus issue price. The 52-week high is ₹316.50.
You can check Crizac IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Crizac IPO allotment status on Rupix for quick and easy access.
₹233 to ₹245 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 61 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,945.
₹14,945, for one lot of 61 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 2 July 2025 and closed on 4 July 2025.
The basis of allotment was published on 7 July 2025 by MUFG Intime India Private Limited (Link Intime), and allotted shares were credited to demat accounts before listing.
The shares listed on 9 July 2025 on BSE, NSE.
The issue size was ₹860 crore. The offer for sale was 3,51,02,040 shares (aggregating up to ₹860 crore).