Crizac IPO

About the company

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.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   02 Jul 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   04 Jul 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   07 Jul 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   08 Jul 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   08 Jul 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   09 Jul 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.