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Crizac IPO: Kolkata-based B2B education platform Crizac will launch its Rs 860-crore initial public offering (IPO) on July 2, 2025. The company aims to raise Rs 860 crore through the sale of 3.51 crore shares, which is entirely an offer for sale (OFS).

Founded in 2011, Crizac helps students from over 75 countries apply to universities in the UK, Canada, Ireland, Australia, and New Zealand. As of March 2025, the company had over 10,000 agents onboard.

Crizac acts as a middleman between education agents and global universities:

Before investing here are several concerns about the company:

Crizac works with over 170 global institutions, including University of Birmingham and University of Greenwich. It offers marketing and admission services, helping institutions build a presence in new markets.

The company has over 10,000 agents registered from 75 countries. Nearly 4,000 were active in FY25 and helped recruit students from diverse regions including Nigeria, Sri Lanka, and Vietnam.

Crizac’s proprietary platform supports seamless agent-university interaction. It ranks agents based on application quality and conversion rates, and processes only eligible student profiles.

According to SBI Securities' analysts, the edtech platform holds a strong position in international higher education consultancy, supported by a broadening geographic reach and solid partnerships with renowned global institutions. These relationships are expected to sustain the company’s growth in student recruitment.

The firm plans to further diversify by expanding into the US market and introducing B2C ancillary services, such as student loans and visa assistance, that could boost both revenue and margins in the coming years, the brokerage said.

At the upper price band of Rs 245, the IPO is valued at a P/E of 28x on FY25 earnings post-issue, which the brokerage considers fairly priced compared to industry peers. SBI Securities recommends investors subscribe to the IPO at the cut-off price.

The company has fixed the price band between Rs 233 and Rs 245 per share. The total issue size stands at Rs 860 crore with a lot size of 61 shares and in multiples thereof.

Post-issue, the company’s market capitalization is expected to range between Rs 4,077 crore and Rs 4,287 crore.

The Book Running Lead Managers for the issue are Equirus Capital and Anand Rathi, while the registrar to the issue is MUFG Intime India Pvt Ltd.

(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)

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