Crizac's IPO launches with ₹233-245 price band
Crizac, which helps students get into universities in the UK, Canada, Ireland, Australia, and New Zealand, just opened its ₹860 crore IPO.
Shares are priced between ₹233-₹245 each, with all proceeds going to founders Pinky and Manish Agarwal.
Crizac's IPO details
You can bid for Crizac's shares until Friday in lots of 61.
The offer is split: 50% for big institutional buyers, 15% for non-institutional investors, and 35% for retail folks.
Anchor investors have already picked up over 1 crore shares at ₹245 apiece—worth ₹258 crore.
Financials and revenue growth
Founded in 2011, Crizac connects over 10,000 agents from 75 countries to universities through its own platform.
The company's revenue shot up from ₹274 crore (FY23) to ₹849 crore (FY25), with profits also rising from ₹110 crore to ₹152 crore.
Valuation and issue details
Crizac runs debt-free with solid cash flow and an 18% net margin.
At the top price band, its valuation comes out to a P/E of 28x FY25 earnings.
Equirus Capital and Anand Rathi Advisors are managing the issue.