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Mint
01-07-2025
- Business
- Mint
Crizac IPO opens tomorrow: GMP, issue details, 10 key things to know
Crizac IPO opens for subscription on tomorrow (Wednesday, July 2).Crizac is an educational platform focused on business-to-business services, targeting agents and international higher education institutions, and it provides global student recruitment services for universities and colleges in the UK, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ). In the financial year 2025, Crizac recorded a revenue of ₹ 849.49 crore, an increase from ₹ 634.87 crore in the previous year. The net profit rose to ₹ 152.93 crore, compared to ₹ 118.90 crore the year before. The company's publicly listed counterparts are Indiamart Intermesh Ltd (with a P/E ratio of 27.18) and IDP Education Ltd (with a P/E ratio of 7.86). Crizac IPO date: The IPO opens for subscription on Wednesday, July 2, and closes on Friday, July 4. Crizac IPO price band: The issue's price band has been fixed in the range of ₹ 233 to ₹ 245 per equity share of face value of ₹ 2. Crizac IPO lot size: The issue's lot size is 61 equity shares and in multiples of 61 equity shares thereafter. Anchor investors: The allocation to anchor investors for Crizac IPO is scheduled to take place today (Tuesday, July 1). Crizac IPO details: The IPO features a full offer for sale (OFS) totaling ₹ 860 crore from existing promoters and stakeholders. In this, Pinky Agarwal and Manish Agarwal are set to divest shares worth ₹ 723 crore and ₹ 137 crore, respectively. Crizac IPO objective: The company will not receive any proceeds of the Offer for Sale by the selling shareholders. Crizac IPO listing date and allotment details: The basis for the allotment of shares for the Crizac IPO is expected to be finalised on Monday, July 7. On Tuesday, July 8, the company will begin processing refunds, and shares will be credited to the demat accounts of allottees on the same day after the refunds. The Crizac share price is anticipated to be listed on the BSE and NSE on Wednesday, July 9. Crizac IPO reservation: Crizac IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Lead Manager and Registrar of Crizac IPO: Equirus Capital Private Limited serves as the book-running lead manager for the Crizac IPO, whereas MUFG Intime India Private Limited (Link Intime) acts as the registrar for this issue. Crizac IPO GMP today: Crizac IPO GMP today or grey market premium was ₹ 0, which meant shares were trading at their issue price of ₹ 245 with no premium or discount in the grey market according to 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Insider
05-06-2025
- Business
- Business Insider
IDP Education Ltd. (03F) was downgraded to a Hold Rating at Jarden
IDP Education Ltd. (03F – Research Report) received a Hold rating and a A$6.95 price target from Jarden analyst Elizabeth Miliatis yesterday. The company's shares closed last Monday at €4.04. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Miliatis covers the Financial sector, focusing on stocks such as Pinnacle Investment Management Group Limited, Platinum Asset Management Ltd, and GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh. According to TipRanks, Miliatis has an average return of 1.4% and a 61.96% success rate on recommended stocks. Currently, the analyst consensus on IDP Education Ltd. is a Moderate Buy with an average price target of €3.50, a -13.37% downside from current levels. In a report released yesterday, Morgan Stanley also downgraded the stock to a Hold with a A$4.25 price target.
Business Insider
04-06-2025
- Business
- Business Insider
Morgan Stanley downgrades IDP Education Ltd. (03F) to a Hold
In a report released today, Melinda Baxter from Morgan Stanley downgraded IDP Education Ltd. (03F – Research Report) to a Hold, with a price target of A$4.25. The company's shares closed last Monday at €4.04. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Baxter is an analyst with an average return of -9.4% and a 31.25% success rate. Baxter covers the Consumer Cyclical sector, focusing on stocks such as Wesfarmers Limited, Aristocrat Leisure , and IDP Education Ltd.. In addition to Morgan Stanley, IDP Education Ltd. also received a Hold from Morgans's Scott Murdoch CFA in a report issued today. However, yesterday, Macquarie maintained a Buy rating on IDP Education Ltd. (Frankfurt: 03F). Based on IDP Education Ltd.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €475.35 million and a net profit of €59.54 million. In comparison, last year the company earned a revenue of €577.41 million and had a net profit of €97.17 million
Business Insider
04-06-2025
- Business
- Business Insider
IDP Education Ltd. (03F) was downgraded to a Hold Rating at Ord Minnett
IDP Education Ltd. (03F – Research Report) received a Hold rating and an A$8.00 price target from Ord Minnett analyst today. The company's shares closed last Monday at €4.04. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In addition to Ord Minnett, IDP Education Ltd. also received a Hold from Morgans's Scott Murdoch CFA in a report issued today. However, yesterday, Macquarie maintained a Buy rating on IDP Education Ltd. (Frankfurt: 03F). The company has a one-year high of €10.50 and a one-year low of €4.04. Currently, IDP Education Ltd. has an average volume of 160.
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Business Standard
03-06-2025
- Business
- Business Standard
30% drop in student placements amid global visa crackdown? IDP rings alarm
Student placement company IDP Education Ltd expects student placements to drop by as much as 30% this financial year, while language testing volumes are forecast to slip by up to 20%. The company said on Tuesday that it would review its costs as a result. What's going on? 'While elections have now been held in all key destination markets, policy uncertainty and negative rhetoric continues, while economic uncertainty has increased,' said IDP. 'Governments in all key destination countries are currently seeking to temporarily reduce migration levels, and economic and geopolitical uncertainty has increased,' the statement added. IDP said this environment is making it harder for international students in the UK, Australia, Canada and the US. • In the UK, the Immigration Policy White Paper released on May 12, 2025, has raised concerns about further restrictions on student immigration • In Australia and Canada, policies remain tight, with further changes expected • In the US, the environment for international students has become more challenging, with visa rejections rising and new visa appointments paused UK adjusts student visa policies The UK still allows the Graduate Route, though dependants are no longer permitted on student visas. IDP reported a 9% drop in visa issuance compared to last year. The Immigration White Paper recommends higher salary thresholds and English language requirements for skilled worker visas, as well as a 6% levy on universities for enrolling international students. It also proposes reducing the Graduate Route from 24 months to 18 months. Australia places caps and raises fees In Australia, proposed permanent student caps were not passed, but visa processing has slowed as institutions reach their 80% 'soft cap' limits under Ministerial Direction 111. Visa fees rose from A$710 to A$1,600 in July 2024, with further increases on the table. The government has also limited onshore applications, meaning more students must apply offshore. Graduate visas now have an age cap of 35, down from 50. IDP said these changes have slowed offer turnaround times and affected enrolments. Canada cuts work permits and student caps In Canada, the Post-Graduation Work Permit (PGWP) has been restricted since November 2024 to students in high-demand occupations. Fast-track visa schemes such as the Student Direct Stream ended late last year. Spousal open work permits are now only available to partners of students in fields like medicine and engineering. IDP said visa issuance has plummeted by 65% in Canada this year, with a 10% cut in study permit numbers planned for 2025. US visa pauses and Chinese student revocations In the US, IDP said visa rejections have jumped sharply, and new visa appointments were halted temporarily on May 27, 2025, to allow for expanded social media checks. The US government has also revoked visas for some Chinese students linked to critical fields or with ties to the Chinese Communist Party. IDP noted a 27% drop in US visa issuance compared to the previous year. Key figures for the year so far, according to IDP: • Australia: visa issuance down 10% • United Kingdom: visa issuance down 9% • Canada: visa issuance down 65% • United States: visa issuance down 27% • Student placement volumes down 28-30% • Language testing volumes down 18-20% 'Challenging immigration conditions continue to weigh on demand,' IDP said. The bigger picture: Global education faces a crossroad Against this backdrop, Indian students are turning to new destinations like Germany, Ireland, New Zealand and Russia. India's education ministry data showed the number of Indian students in Germany rose 68% to 34,702 in 2024, up from 20,684 in 2022. New Zealand saw a 354% jump, from 1,605 to 7,297. Ireland saw a 49% rise, and Russia 59%.
