Crizac IPO: 4 key reasons why this public issue may be worth a look

The initial public offering (IPO) of B2B (business-to-business) education platform Crizac Limited is set to open on Wednesday, July 2, and will remain open until Friday, July 4. The ₹860.00 crore mainboard IPO is entirely an offer for sale (OFS) of 3.51 crore shares.

The price band of the Crizac IPO has been fixed at ₹233 to ₹245 per equity share. The company is expected to finalise the share allotment on Monday, July 7, and the stock will debut on the BSE and the NSE on Wednesday, July 9.

Crizac's profit has increased significantly over the last couple of years. The company's profit after tax (PAT) stood at ₹112.14 crore in FY23, which rose to ₹118.90 crore in FY24 and ₹152.93 crore in FY25.

Revenue from operations was ₹472.97 crore in FY23, ₹634.87 crore in FY24 and ₹849.49 crore in FY25.

"The business-to-business educational platform has posted growth in both its top and bottom lines from March 2023 to March 2025. The figures indicate a promising financial standing, making the IPO attractive to investors," said VLA Ambala, a SEBI-registered analyst and the co-founder of Stock Market Today.

Crizac is a B2B education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, the Republic of Ireland, Australia and New Zealand (ANZ).

It also provides services such as marketing, brand management and admission office management to select global institutions of higher education.

The company, according to its RHP, has a well-entrenched relationship with a global network of institutions of higher education across diverse disciplines.

India's healthy growth outlook, favourable demographic trends and rising middle-class income levels project a healthy growth outlook for the education sector.

Current trends indicate the growing enrolment ratio in higher education globally.

"There has been a remarkable surge in higher education enrolment over recent decades, from about 33 million in 1970 to 254 million in 2022. This expansion has been particularly pronounced in emerging economies where rising middle-class populations are seeking to improve their prospects through education," the company highlighted in its RHP (red herring prospectus).

Experts point out that the issue is priced at a P/BV of 8.52 based on its NAV of ₹28.76 as of December 31, 2024, as well as on post-IPO NAV.

While the issue appears to be slightly overvalued, experts believe one can consider buying it for the long term due to the company's growth potential.

Ambala highlighted that while the company's business is in demand, the current global tensions may impact its operations, as it primarily provides student recruitment services to universities and colleges in Canada, the UK, Australia, the Republic of Ireland, and New Zealand.

"I would advise allocating only a moderate amount of funds for medium- to long-term investments, as the listing may not meet expectations and could lead to only marginal gains. Considering all factors, I recommend subscribing to the Crizac IPO with a view of holding for a minimum of two to three years,” said Ambala.

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.

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