Crizac Listing (July 9): Shares list at nearly 15% premium after blockbuster IPO

Crizac, the B2B education platform specialising in international student recruitment, made its stock market debut on Wednesday, July 9, after closing one of the most successful IPOs in recent times. On the NSE, the shares debuted at a 14.71 per cent premium at Rs 28.05, while on BSE, shares were listed at Rs 280, a premium of 14.29 per cent.

The company had priced its IPO in the range of Rs 233 to Rs 245 per share, and the issue was open between July 2 and July 4.

Crizac IPO details and subscription status

Crizac launched its IPO to raise around Rs 860 crore through an offer for sale (OFS) by its promoters. The IPO was open for subscription from July 2 to July 4. The maiden public issue of the Kolkata-based education company was subscribed 63 times in total.

Crizac's IPO received bids for over 1.54 lakh crore shares against an offer size of 2.58 crore shares, according to data from the NSE. Retail investors booked their reserved portion over 10 times, while Non-Institutional Investors (NII) subscribed their quota more than 76 times. Qualified Institutional Buyers (QIB) subscribed their portion over 134 times.

What does Crizac do?

Incorporated in 2011, Crizac Limited is a B2B education platform that partners with agents and global institutions to offer international student recruitment solutions. The company operates in key higher education markets such as the United Kingdom, Canada, Ireland, Australia, and New Zealand (ANZ).

As of 30 September 2024, Crizac had sourced student applications from over 75 countries through its proprietary platform. It has processed more than 5.95 lakh applications and collaborates with over 135 global institutions of higher education.

Crizac is one of the few tech-enabled B2B education companies to go public in India. With a vast global network of over 10,000 registered agents and operations spanning the UK, Canada, Ireland, Australia, and New Zealand, the company connects prospective students from more than 75 countries with international universities.

In FY25, Crizac reported a total income of Rs 849.5 crore and a net profit of Rs 152.93 crore, delivering a robust EBITDA margin of 25 per cent