Crizac Sets IPO for Global Expansion

On Friday, student recruitment solutions provider Crizac announced that it has set a price range of Rs 233-245 per equity share for its Rs 860-crore initial public offering (IPO). The IPO is scheduled to open for public subscription on July 2 and will close on July 4, with anchor investor bids accepted from July 1.

The IPO, consisting solely of an offer for sale (OFS) by Crizac's promoters Pinky Agarwal and Manish Agarwal, involves no new equity issuance. Pinky Agarwal's shares are valued at Rs 723 crore, while Manish Agarwal's are worth Rs 137 crore, according to the red herring prospectus filed on Wednesday.

The Kolkata-based company, known for catering to international student recruitment for institutions in the UK, Ireland, Canada, Australia, and New Zealand, reported revenues of Rs 849.49 crore and profits of Rs 152.93 crore for the fiscal year 2025. Following regulatory approvals, Crizac will list its shares on the BSE and NSE, with Equirus Capital and Anand Rathi Advisors as lead managers and MUFG Intime India as the IPO's registrar.

(With inputs from agencies.)