Crizac IPO Opens Today with Price Band of ₹233–245; Anchor Investors Infuse ₹258 Crore

Mumbai, July 2, 2025 – The initial public offering (IPO) of Crizac, a B2B education platform connecting agents and global higher education institutions, opened for subscription today at a price band of ₹233-₹245 per equity share.

₹860 Crore Offer for Sale by Promoters

The ₹860 crore public issue is entirely an offer for sale (OFS) by promoters Pinky Agarwal and Manish Agarwal. There is no fresh issue component in this IPO. Investors can place bids for a minimum of 61 equity shares and in multiples thereof. The issue will remain open for bidding until July 4.

Anchor Book Garners Strong Institutional Support

Ahead of the public issue, Crizac successfully raised ₹258 crore from anchor investors. A total of 1,05,30,612 shares were allotted at ₹245 per share. Key participants in the anchor round included:

• Societe Generale
• Pinebridge Global Funds
• Shamyak Investment (Enam Group)
• Aryabhata India Fund (Abakkus Group)
• ICICI Prudential MF
• Allianz Global Investors Fund
• Carnelian Bharat Amritkaal Fund
• 360 One Equity Opportunity Fund
• Motilal Oswal MF
• Bandhan MF
• Axis Max Life Insurance
• Kotak Mahindra Life Insurance

Issue Structure and Allotment

Crizac IPO follows the book-building route with the following quota allocation:

• Up to 50% for Qualified Institutional Buyers (QIBs)
• 15% for Non-Institutional Investors (NIIs)
• 35% for Retail Investors

Lead Managers

Equirus Capital and Anand Rathi Advisors are the book-running lead managers, while MUFG Intime India is acting as the registrar for the issue.

Crizac’s Global Footprint

Crizac, though based in India, has co-primary operations in London, UK, and consultants across various countries, including China, Ghana, Kenya, and Cameroon. As of March 31, 2025, the company employed 368 staff and 12 consultants.

The company has partnered with several global universities to streamline international admissions and outreach. Notable collaborations include University of Birmingham, University of Surrey, Coventry University, Swansea University, Aston University, University of Sunderland, Nottingham Trent University, University of Greenwich, University of West London, University of Portsmouth, De Montfort University, Glasgow Caledonian University, University of Dundee, and Dundalk Institute of Technology.

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