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Business Standard
10-07-2025
- Business
- Business Standard
Crizac gains 34% in two days of listing; Abakkus Asset buys 2.1% equity
Crizac share price registered an all-time high on BSE, at ₹334.15 per share, a day after listing on the bourses. The stock extended rally for the second session and was up nearly 34 per cent. At 11:07 AM, Crizac shares were up 7.72 per cent at ₹331.2 per share on the BSE. In comparison, the BSE Sensex was down 0.34 per cent at 83,248.68. The company's market capitalisation stood at ₹5,759.55 crore. The stock got listed at ₹281.05 per share and its initial public offer (IPO) issue price was at ₹245 per share. What led to rally in Crizac a day after listing? The buying on the counter came after ace investor Sunil Singhania's Abakkus Asset Manager bought 3.67 lakh shares (2.1 per cent stake) at ₹298.33 per share of the company on the National Stock Exchange (NSE). The transaction was worth ₹1,095,876,110. Abakkus is an asset management firm primarily investing in listed Indian equities. Crizac IPO listing Shares of education-related services provider Crizac made a positive debut on Dalal Street on Wednesday, following the completion of their initial public offering (IPO). Crizac shares listed at ₹280 per share, reflecting a premium of ₹35 or 14.29 per cent over the issue price of ₹245 per share. On the NSE, Crizac shares listed at a slightly higher premium of ₹36.05 or 14.71 per cent, at ₹281.05 per share. The public issue of Crizac comprised an entirely offer-for-sale (OFS) by Manish Agarwal and Pinky Agarwal, who divested up to 35.2 million equity shares, estimated to be valued at around ₹860 crore. Crizac IPO was open for subscription from July 2 to July 4, at a price band of ₹233–₹245 per equity share, with a lot size of 61 shares. The public issue garnered strong demand among investors, getting oversubscribed by 59.82 times. This was led by Qualified Institutional Buyers (QIBs), who oversubscribed the category reserved for them by a whopping 134.35 times, according to NSE data. About Crizac Crizac is based in India, with co-primary operations in London, United Kingdom. In addition to extensive operations and employees in India, it has consultants in multiple countries including Cameroon, China, Ghana, and Kenya. It is a B2B education platform for agents and global institutions of higher education, offering international student recruitment solutions to global institutions.
Mint
09-07-2025
- Business
- Mint
Crizac makes strong debut, lists at ₹281.05 on NSE, up 14.71% from IPO price
Crizac IPO listing: Shares of Crizac made a strong debut on the bourses on Wednesday, July 9, listing at ₹ 281.05 on NSE, a premium of 14.71 percent from its IPO price of ₹ 245. Meanwhile, on BSE, it listed at ₹ 280, up 14.29 percent from issue price. The initial public offering (IPO), with a total issue size of ₹ 860 crore, was open for bidding from July 2 to July 4. The offering received a healthy overall response from investors, closing with a subscription of 62.89 times. During the three-day subscription window, the IPO garnered bids for 1.54 crore shares against the 2.45 crore shares available. The retail investor category led the enthusiasm, subscribing 10.74 times their allotted quota. The non-institutional investor (NII) segment also showed strong participation, with a 80.07 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was fully booked as well, receiving bids 141.27 times the shares reserved. The IPO is entirely an offer-for-sale (OFS) aimed at raising ₹ 860 crore by promoters Pinky Agarwal and Manish Agarwal. The total issue size stood at 3.51 crore shares. The minimum application size was 61 shares, implying a minimum investment of ₹ 14,213 lakh from retail investors. Crizac will not receive any proceeds from the issue and entire proceeds shall go to the selling shareholders. The IPO also raised ₹ 258 crore from anchor investors on Tuesday, July 1, 2025. Equirus Capital Private Limited is the book-running lead manager of the IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar. Founded in 2011, Crizac Limited operates as a B2B education platform that facilitates international student recruitment for global institutions of higher education. The company primarily connects education agents with institutions across key destinations including the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ). Crizac leverages a proprietary technology platform that enables registered agents worldwide to source student applications for global academic institutions. Over the years, the company has built a robust global presence, sourcing applications from students in more than 75 countries. As per data for the six-month period ending September 30, 2024, and for the financial years ended March 31, 2024, 2023, and 2022, Crizac processed more than 5.95 lakh student applications. These applications were submitted to over 135 higher education institutions around the world, underscoring the scale and efficiency of its recruitment network.
Indian Express
09-07-2025
- Business
- Indian Express
Crizac shares jump nearly 15% in market debut trade
Shares of student recruitment solutions provider Crizac Ltd on Wednesday listed with a premium of nearly 15 per cent against the issue price of Rs 245. The stock made its market debut at Rs 280, a jump of 14.28 per cent from the issue price on the BSE. Later, it zoomed 20 per cent to Rs 294. At the NSE, it started trading at Rs 281.05, a premium of 14.71 per cent. The company's market valuation stood at Rs 5,144.49 crore during the morning trade. The initial public offering of Crizac Ltd got subscribed 59.82 times on the closing day of bidding on Friday last week. The Rs 860-crore initial share sale had a price band of Rs 233-245 per share. The IPO was entirely an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal with no fresh issue component, as per the red herring prospectus. The Kolkata-based firm is a B2B education platform for agents and global institutions, offering international student recruitment solutions to global institutions of higher education in the UK, Ireland, Canada, Australia, and New Zealand.
Business Standard
09-07-2025
- Business
- Business Standard
Crizac IPO jumps on debut
Shares of Crizac were currently trading at Rs 293.50 at 10:30 IST on the BSE, representing a premium of 19.80% compared with the issue price of Rs 245. The scrip was listed at Rs 280, exhibiting a premium of 12.5% to the issue price. So far, the stock has hit a high of 293.80 and a low of 275. On the BSE, over 22.24 lakh shares of the company were traded in the counter so far. The issue opened for bidding on 2 July 2025 and closed on 4 July 2025. The price band of the IPO was set between Rs 233 and 245 per share. An investor can bid for a minimum of 61 equity shares and in multiples thereof. The IPO was solely an offer for sale of 3,51,02,041 equity shares at the upper price band. Promoter Pinky Agarwal sold shares worth Rs 723 crore, while Manish Agarwal sold sell shares worth Rs 137 crore through the offer. Incorporated in 2011, Crizac is a B2B education platform that offers international student recruitment solutions to higher education institutions around the world. These institutions are located in the UK, Canada, Ireland, Australia, and New Zealand. The company works with over 10,000 registered agents and has processed more than 7.11 lakh student applications across over 75 countries, partnering with 173 global institutions. Crizac has a presence in Cameroon, China, Ghana, and Kenya. As of March 31, 2025, it has a team of 368 employees and 12 consultants. It operates two foreign subsidiaries, including Crizac UK, which was fully acquired in November 2023. Ahead of the IPO, Crizac on Tuesday, 1 July 2025, raised Rs 10 crore from anchor investors. The board allotted 4.08 lakh shares at Rs 245 each to 19 anchor investors. The firm reported a consolidated net profit of Rs 152.93 crore and sales of Rs 849.49 crore for the twelve months ended on 31 March 2025.
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Business Standard
09-07-2025
- Business
- Business Standard
Crizac shares list at 14% premium on bourse, miss IPO GMP forecast
Crizac IPO listing, Crizac share price: Shares of education-related services provider Crizac made a positive debut on Dalal Street on Wednesday, following the completion of their initial public offering (IPO). Crizac shares listed at ₹280 per share, reflecting a premium of ₹35 or 14.29 per cent over the issue price of ₹245 per share. On the National Stock Exchange (NSE), Crizac shares listed at a slightly higher premium of ₹36.05 or 14.71 per cent, at ₹281.05 per share. Crizac IPO listing came in slightly lower than the grey market estimates. Ahead of their debut, the unlisted shares were changing hands at around ₹286.50 each, implying a grey market premium (GMP) of ₹41.50 or approximately 16.94 per cent over the IPO issue price, according to sources tracking unofficial market activity. Crizac IPO details The public issue of Crizac comprised an entirely offer-for-sale (OFS) by Manish Agarwal and Pinky Agarwal, who divested up to 35.2 million equity shares, estimated to be valued at around ₹860 crore. Crizac IPO was open for subscription from July 2 to July 4, at a price band of ₹233–₹245 per equity share, with a lot size of 61 shares. The public issue garnered strong demand among investors, getting oversubscribed by 59.82 times. This was led by Qualified Institutional Buyers (QIBs), who oversubscribed the category reserved for them by a whopping 134.35 times, according to NSE data. The basis of allotment for Crizac IPO shares was finalised on July 7, with the company setting the issue price at ₹245 per share. Crizac, in its Red Herring Prospectus (RHP), said that it will not receive any proceeds from the public issue. "Each of the selling shareholders will be entitled to the respective proportion of the proceeds of the Offer for Sale after deducting their portion of the offer-related expenses and the applicable taxes thereon," the RHP reads. About Crizac Crizac is based in India, with co-primary operations in London, United Kingdom. In addition to extensive operations and employees in India, it has consultants in multiple countries including Cameroon, China, Ghana, and Kenya. It is a B2B education platform for agents and global institutions of higher education, offering international student recruitment solutions to global institutions.
