Crizac Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹245
Per ShareLot Size
61 Shares
Minimum Investment
₹14,945
Issue Size
₹860 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Crizac Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
79.94%
Issue Type
Book Building
ISIN
INE0S4R01014
About the Company
The Company is a B2B (Business to Business) education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education in United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ). Student recruitment solutions from India into the United Kingdom is its strength as a result of its strong relationships built over time with global institutions of higher education in the United Kingdom. The Company also works in close collaboration with global institutions of higher education, which has helped it in developing expertise and understanding of their recruitment preferences and develop bespoke strategies that reflect and highlight their unique goals and strengths.
Industry Overview
Increasing globalization, coupled with the pursuit of quality education and international exposure, has led to a surge in demand for studying abroad. Students and parents are increasingly recognizing the value of acquiring a global perspective, accessing world-class educational institutions, and experiencing diverse cultures. The global education market, valued at approximately USD 6 trillion in 2024, is projected to expand to around USD 7.4 trillion by 2030. Total Indian students pursuing higher education abroad increased to about an estimated 14,80,000 by 2023. The total number of Indian students studying abroad is expected to reach 25,00,000 by 2030 growing at a CAGR of 7.8% (2023-2030).
Company History
Crizac Limited was originally incorporated as `GA Educational Services Private Limited', at Kolkata as a private limited company under the provisions of Companies Act, 1956 and received a certificate of incorporation issued by the RoC, on January 03, 2011. Thereafter, pursuant to a special resolution passed by the shareholders of the Company passed in their meeting on March 24, 2012, the name of our Company was changed to `GA Solutions Private Limited', and a fresh certificate of incorporation dated May 16, 2012 was issued to the Company by the RoC. Subsequently, pursuant to a special resolution passed by the shareholders of the Company passed in their meeting on November 10, 2023, the name of the Company was changed to `Crizac Private Limited', and a fresh certificate of incorporation dated December 15, 2023, was issued to the Company by the RoC. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed by the shareholders of the Company passed in their meeting on December 27, 2023 and the name of the Company was changed to its present name `Crizac Limited' pursuant to a fresh certificate of incorporation issued by the RoC on February 13, 2024.
Products & Services
- The Company is a B2B education platform for agents and global institutions of higher education offering international student recruitment solutions to global institutions of higher education.
Growth Strategy
- Deepening and augmenting its agent network in India and globally.
- Expanding its geographic footprint with a particular focus on expanding its network of global institutions of higher education in Ireland, Canada and ANZ and establishing relationship with global institutions of higher education in the USA.
- Diversify its service offerings.
- Enhance its brand profile including its online presence and implement more efficient marketing strategies.
- Inorganic growth to foray into B2C (i.e., catering directly to the student population without an agent in between) business model
- Enhancing its proprietary technology platform.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of up to 35,102,040 equity shares of face value of Rs. 2 each (equity shares) of Crizac Limited (company) for cash at a price of Rs.245 per equity share (including a share premium of Rs.243 per equity share) (offer price) (offer) through an offer for sale of up to 35,102,040 equity shares aggregating up to Rs. 860.00 crores by the selling shareholders (offer for sale) comprising up to 55,91,836 equity shares aggregating up to Rs. 137.00 crores by Manish Agarwal and up to 29,510,204 equity shares aggregating up to Rs. 723.00 crores by Pinky Agarwal (each, the selling shareholder).The face value of the equity shares is Rs. 2 each and the offer price is 122.5 times the face value of the equity shares. the offer will constitute 20.06% of the post offer paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- One of the leading provider of international recruitment solutions with significant experience of catering to global institutions of higher education;
- Well entrenched relationship with global network of institutions of higher education across diverse disciplines;
- Wide ranging network of educational agents for sourcing students for recruitment.
- Scalable proprietary technology platform.
- Experienced Promoters supported by able professionals with strong domain expertise.
- The Company is heavily dependent on few global institutions of higher education for its revenue. Any loss of such global institutions of higher education may have an adverse impact on its business, results of operations and financial conditions.
- The company is heavily dependent on the service of its agents. Loss of any or all such agents may have an adverse impact on its business, results of operations and financial conditions.
- Its success depends on the company continued collaboration with global institutions of higher education. Its inability to maintain the company collaboration with such global institutions of higher education may have an adverse impact on its business, results of operations and financial conditions.
- Its source of revenue is concentrated to certain geographical locations and its inability to operate and grow the company's business in such countries may have an adverse effect on its business, financial condition, result of operation, cash flow and future business prospects.
- The global institutions of higher education with whom the company work have differing criteria to determine its eligibility to earn revenues from education consultancy services.