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Crizac IPO
59.14xsubscribed

Crizac IPO

Educational Institutions
listed
₹14,213Min. investment

Crizac Limited IPO Details

SectorEducational Institutions
Price range₹233 – ₹245
IPO type
Regular
Lot size61 shares
Issue size₹860Cr
Red Herring Prospectus
Read
Market cap
₹4,287CrHigher than sector avg
RevenueApr 2024 - Mar 2025
₹849CrHigher than sector avg
Growth rate3Y CAGR
76.00%

Crizac IPO Subscription Status

Date
QIB
NII
Retail
Total
02-Jul-25
0.09 times (X)
0.62 times (X)
0.6 times (X)
0.46 times (X)
03-Jul-25
0.15X
6.16X
2.73X
2.73X
04-Jul-25
134.35X
73.75X
9.91X
59.14X

As on 02-Jul-25, 5:30 PM

Crizac IPO Timeline

  1. Pre-apply
    30 Jun 2025
  2. Bid start
    2 Jul 2025
  3. Bid end
    4 Jul 2025
  4. Allotment
    7 Jul 2025
  5. Release of funds
    8 Jul 2025
  6. Demat transfer
    8 Jul 2025
  7. Listing
    9 Jul 2025

About Crizac Limited

Incorporated in 2011, Crizac Limited operates as a B2B education platform providing international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand. It has established a network with around 10,362 registered agents globally on its proprietary technology platform as of March 31, 2025. During FY25, they had 3,948 active agents, comprising 2,237 active agents in India and 1,711 active agents across over 39 countries.
The company processed 275,897 student applications during FY25, working with 173 global institutions of higher education. They source applications for enrolment from 75+ countries, with India contributing 165,541 applications, Asia (excluding India) contributing 85,376 applications, Africa contributing 22,091 applications, and others contributing 2,889 applications during FY25.
Crizac Limited plans to deepen and augment its agent network in India and globally, with particular focus on expanding into China, which along with India, accounts for close to 40% of total international higher education expenditure. They also intend to expand their agent network in countries across Asia (excluding India), Africa, and Latin America to improve the sourcing mix of applications across geographies.
The company processed over 7.11 lakh student applications, demonstrating its significant market presence in international student recruitment. The United Kingdom represents the dominant revenue source, contributing 95.1% of total revenue in FY25, followed by the Republic of Ireland, Canada, and others. Revenue from the top 3 global institutions accounts for 52.85% of total revenue, while the top 10 institutions contribute 70.56% of revenue in FY25.
The global education market presents a robust growth opportunity, valued at approximately $6 trillion in 2024 and projected to expand to $7.4 trillion by 2030, representing a CAGR of 3.5%. The higher education segment, which is Crizac's primary focus area, is expected to reach USD 2.4 trillion by 2030, increasing from $1.9 trillion in 2024 with a CAGR of 3.7%. The overseas education market demonstrates exceptional growth momentum, with international student spending projected to increase from $262 billion in 2023 to $420 billion by 2030, growing at a CAGR of 7%.
The number of internationally mobile students is expected to grow from 0.67 crore in 2023 to over 0.8 crore by 2030, representing a doubling from 2012 levels. India emerges as the largest source market for international students, with 0.15 crore students pursuing higher education abroad in 2023, expected to reach 0.25 crore by 2030 at a CAGR of 7.8%. Indian students' overseas education expenditure is projected to double from $61 billion in 2023 to $125 billion by 2030.
Now, Crizac Limited is launching its initial public offering (IPO), which is a complete offer for sale worth ₹860 crore. Its shares will be listed on the NSE and BSE.

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Strength and Weakness

Established global academic network

In FY25, 70.56% of revenue came from the top 10 global institutions, with strong ties across 173 universities in the UK, Canada, and Ireland. In FY25, it earned ₹849 crore from global higher education institutions, with ₹808.02 crore from the UK alone. The company processed 2.76 lakh student applications globally, led by India (165,541), ensuring scale and recurring revenue.

Extensive global agent network

As of FY25, the company had 10,362 registered agents and 3,948 active agents across 39 countries, including the UK, Canada, and Nigeria. Revenue from the top 10 agents alone stood at ₹84.38 crore (9.93% of operations), reflecting a strong, performance-driven partner ecosystem.

Leadership in India-UK student recruitment

With a 54.09% CAGR in Indian student inflow to the UK (from 19,935 in 2019 to 1.73 lakh in 2024), the company has built strong recruitment expertise and cultural understanding. India now accounts for 23% of all UK-bound international students, reflecting the company's leadership and scale in this corridor.

Strong global application sourcing capability

In FY25, the company processed 2.76 lakh student applications from over 75 countries, with India (1.65 lakh) and Asia ex-India (85,376) being key contributors. This wide sourcing footprint highlights its global reach and operational scalability in international student recruitment.

Robust proprietary tech platform

The company’s proprietary platform connects 10,362 registered agents and supports real-time tracking, automated agent ratings, and application veracity checks. This tech-driven model enhances efficiency, ensures data integrity, and streamlines student admissions to global institutions.

Objectives of Crizac Limited IPO

IPO is complete offer for sale
Proceeds to selling shareholders; company receives none
Listing on stock exchanges
The company wants to achieve the benefits of listing its shares on the stock exchange.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratio
This IPO₹849Cr76.00%₹152Cr₹4,287Cr28.03
This sector (avg.)₹52.68Cr----₹5.12Cr₹392.04Cr117.14
₹58.99Cr---₹7.06Cr₹2,207.31Cr318.19
₹470.87Cr----₹251.65Cr₹1,979.46Cr---
₹72.28Cr---₹25.56Cr₹416.48Cr18.94

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Crizac IPO Contact Details

Company NameCrizac Limited

How to apply for Crizac IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Crizac Limited IPO FAQs

Investors can apply for the Crizac IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Crizac IPO is 860 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Crizac IPO will be open between 2025-07-02 and 2025-07-04.
Crizac IPO allotment date is 2025-07-08. For Crizac IPO allotment status check, you can visit the website of the registrar of the IPO.
For Crizac IPO, the IPO registrar is MUFG Intime India Private Limited. You can check Crizac IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Crizac IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Crizac IPO lot size is 61 and minimum order quantity is 61.
Crizac IPO has set the price band for its IPO at 245 per equity share with a face value of 2.