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  3. Crizac IPO
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Crizac

MAINBOARDListed
MAINBOARDListed

IPO Timeline

Issue open date

2 Jul 2025

Issue close date

4 Jul 2025

UPI mandate deadline

4 Jul 2025

Allotment finalization

7 Jul 2025

Refund initiation

8 Jul 2025

Share credit

8 Jul 2025

Listing date

9 Jul 2025

Mandate end date

19 Jul 2025

Lock-in end date for anchor investors (50%)

6 Aug 2025

Lock-in end date for anchor investors (remaining)

5 Oct 2025

Grey Market Premium Trend

₹41.5
Current GMP
₹287
Est. Listing Price
16.9%
Est. Listing Gain
₹233 - ₹245
Price Band

GMP History

DateGMP (₹)Est. Listing Price (₹)Est. Listing Gain
8 Jul₹42₹28716.94%
7 Jul₹42₹28716.94%
6 Jul₹39₹28415.92%
5 Jul₹43₹28817.55%
4 Jul₹43₹28817.55%
3 Jul₹40₹28516.33%
2 Jul₹22₹2678.98%
1 Jul₹39₹28415.92%
30 Jun₹21₹2668.57%
29 Jun₹0₹2450.00%
28 Jun₹0₹2450.00%
27 Jun₹0₹2450.00%
26 Jun₹0₹2450.00%
25 Jun₹0₹2450.00%

Key Dates

Open
2 Jul 2025
Close
4 Jul 2025
Listing
9 Jul 2025

Quick Stats

Issue Size:860cr
Lot Size:61 shares

Issue Details

Issue Size:860cr
Face Value:₹2
Listing At:BSE & NSE

Reservation

50%
QIB
15%
NII
35%
Retail

Additional Resources

RHPRead(Opens in a new tab)
DRHPRead(Opens in a new tab)

About the Company

Operating since 2011, Crizac Limited functions as a B2B education platform providing international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia, and New Zealand. With co-primary operations in India and London, the company has established particular strength in student recruitment from India to the United Kingdom through strong institutional relationships. Crizac Limited operates through a proprietary technology platform supporting over 10,362 registered agents globally, with 3,948 active agents across over 39 countries. During fiscal 2025, the platform processed over 7.11 lakh student applications while collaborating with over 173 global institutions of higher education including University of Birmingham, University of Surrey, Nottingham Trent University, and Coventry University. With a team of 368 employees spanning multiple countries, the company has achieved significant growth with a CAGR of 100.18% in revenue from operations between fiscal 2015 and 2025. The platform enables students and parents to access world-class educational institutions while helping universities develop bespoke recruitment strategies.

Strengths

  • The company is a key B2B player in international student recruitment, especially India–UK.
  • Strong, long-term partnerships with 170+ global institutions, driving over 70% of revenue.
  • Extensive agent network with 3,900+ active agents in 39+ countries drives diverse student sourcing.
  • Scalable tech platform streamlines student applications and agent coordination.
  • Experienced promoters with deep domain expertise, supported by a skilled team and global advisory board.

Risks

  • High dependence on few institutions; loss of any may severely impact revenue.
  • Dependence on non-exclusive agents may impact business if they shift or disengage.
  • Loss or non-renewal of key institutional tie-ups may impact revenue and growth.
  • High geographic revenue concentration in the UK (95%+) poses risk from regional disruptions or policy changes.
  • Proforma financials are illustrative and may not reflect actual or future performance.
  • Visa or travel rule changes in key markets may hurt student flow and impact revenue.

Crizac IPO – Frequently Asked Questions

  • The price band for the Crizac IPO is set at ₹233 to ₹245 per share.
  • The Crizac IPO opens on July 2, 2025 and closes on July 4, 2025.
  • The tentative listing date for the Crizac IPO is July 9, 2025.
  • You can apply for the Crizac IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose Crizac, enter lot quantity and UPI ID, then approve the mandate.
  • The lot size for the Crizac IPO is 61 shares. Investors must apply for at least one lot (i.e., 61 shares).